(UPDATE) RBC Capital Markets Comments Taken Out Of Context Regarding President Obama

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Update: We've spoken with several other conference participants who tell us the slide wasn't meant to demonstrate how RBC sees President Obama but rather reflect sellers' current thoughts on the fear of the White House raising long term capital gains taxes.

RBC said in a statement: "This [slide] is not representative of RBC's viewpoint. We do not condone this type of behavior; it is unacceptable and runs counter to our values and culture."
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Said thoughts were apparently shared at the Energy Capital Conference yesterday, by RBC Capital Markets director Craig Lande, via an interesting slide included the firm's presentation. It seems the Canadians (based in Houston) do not think much of our commander in chief. Participants may have gotten this impression due to the image of Obama depicted as the devil (I don't know though, maybe it was something else). According to an attendee, "There were a couple hundred people in the room-- everyone was shocked. It was really awkward."

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