Zell: Clinton, Obama partially to blame for economic woes

In an interview, the billionaire investor says the Democratic candidates are working to create a self-fulfilling prophecy about the economy.

Published February 27, 2008 2:51PM (EST)

We already knew that Democrats get blamed for supposedly stabbing U.S. troops in the back, which purportedly led to defeat in Vietnam, and the current situation in Iraq. But that, apparently, doesn't go far enough for Sam Zell, the billionaire who owns, among other things, newspapers like the Los Angeles Times and the Chicago Tribune, plus the Chicago Cubs. In an interview with CNBC, Zell suggested the Democratic presidential candidates were working to sour the U.S. economy for political gain.

"Obviously what we have going on is an attempt to create a self-fulfilling prophecy," Zell said. He continued:

We have two Democratic candidates who are vying with each other to describe the economic situation worse.

The reality is that if you live on Wall Street and you're in the credit markets the world couldn't be worse. If you're a farmer and you're getting $25 for your wheat, you're having a great time. If you're a CEO and you've got a balance sheet that's bullet-proof, you're in a great position. This whole thing is way out of control, way out of hand.

By Alex Koppelman

Alex Koppelman is a staff writer for Salon.

MORE FROM Alex Koppelman

Related Topics ------------------------------------------

2008 Elections Barack Obama Hillary Rodham Clinton War Room