Steve Schwarzman was “in the air” when Obama stepped onto the dais last night but he did read the State of the Union transcript, he told NBC’s Maria Bartiromo at Davos.”I thought some of it was really good” he said, and he liked that the speech was “business focused” (which he said represented a huge shift in the administration’s thinking) and really liked “the affirmation of the American dream” at the end.
He said he was disappointed that Obama didn’t come down as hard on the deficit but predicted the speech would get a good response from the business community.
“I was critical [of the president] because I felt things weren’t being done correctly. I think the last election shows the American people actually agreed in the same way. There has been so much responsiveness, and a drive to the centre and a recognition… that without a strong business community… we’re not going to be able to drive to create jobs.”
Schwarzman is still bullish on commercial real estate, and told Bartiromo, “we’re putting money continually in the hotel business.” He also said to be open-minded in the real estate sector and not just think about the opportunity to buy equity, but to buy up debt and convert it to equity.