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Is Obama Good for Business?

In the words of one consultant: "Business would have a seat at the table, but business wouldn't be able to buy all the chairs"
Is Obama Good for Business?
AFP/Jim Watson

On Sunday, Feb. 10, after he found out he'd won that day's Democratic Presidential caucuses in Maine, but before his appearance on CBS's 60 Minutes, Senator Barack Obama (D-Ill.) sat down at the keyboard of his computer to write an e-mail. Not to a media consultant or a delegate counter, but to banker Robert Wolf, CEO of UBS Americas (UBS). The two men exchanged notes about the Senate-passed economic stimulus package and that weekend's G-7 economic summit, Wolf says.

A banker as Obama's pen pal? Hard to believe, given the senator's liberal image. But in between rallies and airplane flights on the campaign trail, Obama has also taken time to consult on the economy with billionaire Warren Buffett, whose support of rolling back the Bush tax cuts Obama often cites in his stump speeches. Obama has also been in touch with former Federal Reserve Chairman Paul Volcker, who endorsed the freshman senator in January. "When I sat down with him, I found him to be unbelievably refreshing and smart and thoughtful," says Wolf, who first met Obama at the offices of financier George Soros. The UBS chief has gone on to raise more than $1 million for the Obama campaign.