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Obama makes inroads into America's wealthiest

Tue Oct 14, 2008 5:11pm EDT
 
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"Everybody believes that taxes are going up ... no matter who gets elected," said Timothy Vaill, chairman and chief executive of the wealth management arm of Boston Private Financial Holdings, a money-management firm.

Some wealthy foreign investors with big investments in the United States are unnerved by McCain's running-mate, Alaska governor and self-described 'hockey mom' Sarah Palin, said Charles Lowenhaupt, chairman of St. Louis-based Lowenhaupt Global Advisors, which advises ultra-high-net-worth families.

"The non-U.S. wealth-holders I've talked to, in India for example, were feeling very negative on Obama. And all of sudden the Palin thing has flipped that because as naive as Obama looked they think Palin looks more so," he said.

He said wealthy individuals in India are highly critical of Obama's willingness to strike against terrorists in Pakistan without approval from Islamabad.

"They would say 'oh, Obama is terrible.' I just kept running into that when I was there. But when McCain chose Palin, they said 'oh Palin.' They just don't understand the whole culture around her, the 'hockey mom' idea."

 
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