Posted on 10/25/2012 5:09:12 AM PDT by Sir Napsalot
(Obama on Jay Leno)
"We passed Wall Street reform, which they fought tooth and nail. But what it did was is it made sure that they can't make some of these same reckless bets, they've got to keep more capital so that if they make a bad bet, taxpayers don't pick up the tab. ....
Look, these financial institutions are in to make money and that's why we need some smart regulations and this is an example of the difference in this campaign because my opponent says he wants to roll back all those regulations. These folks are not going to do it just out of a sense of guilt of what happened previously or because suddenly they feel charitable," Obama told Leno.
(Excerpt) Read more at realclearpolitics.com ...
Obama might, very possibly, run out of raw material to build so many strawmen during the last home stretch.
Obama thinks the American People will respect him going on Leno and sprouting his nonsense without any questions?
I do not understand this man.
Don’t banks have to make money in order to stay in business?? Other wise why bother.
I hate him
Not if you're a socialist. There are Democrats on record advocating nationalization of oil companies. Why not banks as well?
Whenever someone got a job promotion over my direct Manager (one of the best I ever saw), he had a simple statement: The higher the circus monkey climbs a pole, the more you see his ass.
Seems very appropriate when discussing this arrogant marxist.
I’m so sick of this stupidity, hypocrisy, and deception.
There are regulations out the kazoo, but when banks and investment companies skirt them, nothing is done. There is a revolving door from Wall St. into the White House and back.
It’s just like campaign finance laws. The very people who bend and break existing laws scream out for more and more laws.
Well, if we are going to bail them out, they do need monitoring.
Although I dislike his inferring that making money is bad.
Dodd Frank regulates everything except what caused the financial crisis. Simply an excuse to takeover wall st.
But the feral government never does anything for money.
Dodd Frank is not smart regulation, it is Centralized Gummit and Marxism.
Pray for America
We know he’d like to nationalize all banking functions, just like he did student loans. As with healthcare, his argument is that the private sector is inherently inefficient because profits are a cost that raise prices.
“Obama: Banks Are In To Make Money And That’s Why We Need To Regulate Them”
Oh, I’m sure they would operate as a public service if he would just talk sweet to them. Just how out of touch with reality is this man with almost four years of the presidency behind him?
Romney was right about the “kiss” given to the big banks so that they cannot fail. Romney was also right about the fact that Obama is killing small and regional banks.
Say what you want about Romney one thing is certain, the guy knows business.
Obama has set about to kill American business in so many ways many of them have not even been talked about.
>>> his argument is that the private sector is inherently inefficient because profits are a cost that raise prices.
Half right.
He thinks private sector, those people who run businesses are inherently less smart, because libs corner the market of Smarts. And all the smarts are in academia or in Dem camp.
That is why their argument has been all industries need them Intellectuals to watch over them all the time.
He thinks that too, perhaps, and certainly he thinks they are less noble.
But he has actually made the ‘profits add costs’ argument in student loans, healthcare, and insurance. Clearly that is his general economic view, from which he’d see it only moral to nationalize all commerce and production as soon and as rapidly as is politically possible.
Nationalizing the banks is very high on the Leftist to-do list. FDR had an opportunity and did not take it. Obama had another in 2009. They are highly peeved at some level that two of their all-time heroes failed to deliver.
The most inefficient private enterprise is infinately more efficient than any branch of government.
Obama certainly wouldn’t want reality to interfere with a good, self-serving theory!
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