Posted on 05/03/2009 4:54:38 AM PDT by jersey117
Wall Street is not going to play as dominant a role in the economy, president says. WASHINGTON - Wall Street is not going to play as dominant a role in the economy as regulations reduce "some of the massive leveraging and the massive risk-taking that had become so common," President Barack Obama says.
(Excerpt) Read more at foxnews.com ...
Risk-taking is only a problem if the risk-taker is insulated from its consequences.
“Risk-taking is only a problem if the risk-taker is insulated from its consequences”
How true.
We are going to become a nation of 1/2% interest rate for everyone except the wealthy will get to buy financial vehicles which has little risk and great returns.
Welcome to the Proletariat.
What a clueless tool.
We’re so screwed...but, I feel a slight tremor under my feet. Joe and Jane Six-pack aren’t going to take much more. :)
I'm sure if you dig, most of the rest of them have done it, too. What's going on in America today is that if you're a Democrat who's ever been in a position of high influence, you go to the Wall Street banks, get a job there, get paid a huge amount of money for doing NOTHING, and Bob's your uncle, you're a rich man (or woman). Then you turn around and excoriate Wall Street for its greed and corruption.
I hate these people more every day. My "I hate liberals meter" is getting a bent needle.
....so government will now play the dominant role???
Call for REFORM in 2010 - 2012!!!!!!!!!!!!!!!!!!!!
“....We’re so screwed...but, I feel a slight tremor under my feet. Joe and Jane Six-pack aren’t going to take much more. :)...”
I wish I could agree with you...but these are the same voters who put Bill back into office a second time..as long at O plays the cass warfare card he will always get a bunch of folks to think he’s wonderful...
More info here:
http://www.freerepublic.com/focus/news/2215150/posts
Rahm Emanuel’s profitable stint at mortgage giant [Freddie Mac]
Better Wall Street than 0bama’s one way street to destroying the country.
WTF does Rahm Emanuel know about banking?Nothing nor does obama the financial failure team in action.
Can't people come up with enough solid evidence of fraud and corruption to send them to trial, convict them, remove them from office and JAIL these idiots for the rest of their lives?
The typical 0bama voter is not going to like this.
I’ve always said he was a communist.
OMG, you're right!! I had forgotten about that!
Do all us FReepers feel safer knowing that Obama believes that he (the government) can eliminate the risks in our lives?
Of course. The Kremlin Obama administration will be calling the shots going forward.
I'm not sure people have yet to understand that the Wall St vs Main St thing is all about conditioning them to hate corporations and free enterprise. They still think Big Pharma is screwing them and they still think Big Oil is screwing them or will in due course (yes, they totally ignore that as the price of oil dropped off a cliff so did gas). As long they continue to buy into this Big <blank> BS and continue to say, "there oughta be a law/the government has to do something about this," Obama and his ilk will be successful in destroying our system.
The brown clown has perpetrated one of the biggest cons the world has ever seen.
And we have four more years of this arrogant, leftist nonsense ahead of us...
Good one.
We're so screwed because any tremor you feel from the Six-packs will be too late. It's probably already too late. Shanikadinka Acorn and her man T-Dawg don't have investment portfolios so couldn't care less.
The way I see it it this:
GM will become Government Motors with two divisions - Fatsler, and Bucachev. They will require all employees to buy their worthless government built junk cars. By that, everyone will know who the employees are. GM will not be able to sustain themselves on their employees alone and eventually will cease to exist.
Look on the bright side. Most of those idiots on Wall Street contributed to this guys’s campaign. Serves them right. Too bad that we are stuck with him too!
Less Wall Street, more Lenin...
thus it was said by Chairman Obama from the commanding heights.
Translation: “Wall Street, you better cough up big for Democrats in 2010 and for me in 2012 if you want us to stay off your back.”
So I wonder how far the stock market will drop tomorrow on this announcement -- it seems like nearly every time Obama opens his mouth, the market tanks.
Wall Street will move to Switzerland or some other country not subject to Obama’s communist rules.
All of the jobs will also move out of the country.
This guy is more dangerous than Lenin, Stalin, Castro and Chavez!
Just wait until the constitution to eliminate term limits is changed to allow Obama to become President for life.
Now we know why Air Force 1 was terrorizing the Goldman Sacs building and all of Wall Street last week.
A ‘dry run’?
First, get control of the financial system.
Get control of industry.
Divide the classes. Teach those with less that the reason they have less is that the upper class is stealing from them.
That said, the idea of controlling Wall Street is the most stupid of Obummer, the Marxist's, ideas. Wall Street will move to London. As you know, London has already become the world's financial center for many things, primarily new issues because of the recent restrictive legislation in the US.
So Wall Street will move to London. The irony of that is that Wall Street and NY elected Obummer, the Marxist, and Wall Street is a cash cow to NY.
So both the Wall Street Whiz Kids and NY will get the kick in the ass they deserve.
Now that is our dream. But it is not reality. The reality is that what Obummber, the Marxists, says is always a complete 180 degrees from what he does.
Please note that Obummer, the Marxist, who campaigned on helping the little man has done nothing for the little man.
All of the billions that has been spent so far has been for the benefit of the Wall Street Whiz Kids, the big banks, etc.
The reason Warren Buffet and his likes think Obummer, the Marxist, is doing the right thing is that they have lost billions in the bubble's burst and they are desperate for bail out money.
Think about it. All of the big bucks have been spent on the very people Obummer, the Marxist, rants about being evil. His cabinet is staffed with people from those financial organizations. It is all smoke and mirrors to get the little man to vote for him, and like sheep they will.
The link is going to the comments section of the article. You might want to post the link to the article in the thread. Just a head’s up.
I agree with you, and think that it's time this ‘war’ was officially recognized by all involved in it, or affected by it. Like the war with Al Queda et. al., this ‘war’ has been ongoing for a long time, but we have just not officially recognized it. There are a lot of resentful, vengeful people out there who want to bring down those ‘uppity’ people who have more than them. They vote for this, and they have the MSM on their side. It's time to call it, and fight back.
Wall Street financed about 50% of this jerks run... do you think they will give to him again... One term marxist muzzie with big ears.
LLS
I hate to break it to you, Obuttboybama, but Wall Street IS the free economy. If Wall Street declines it can mean only one thing. Government grows. Its called communism.
Rahm made $19 MILLION during his short time on Wall Street. He wired the state bond deals and reaped the harvest.
And Asia...
Thanks! Sorry about that. Here’s a link to the actual story.
http://www.foxnews.com/politics/2009/05/03/obama-wall-street-play-dominant-role/
My neighbor actually said that. She thinks his big ears are too adorable......
Hmmm. Air Force one sending a message to Wall Street that he's in charge?
“Risk-taking is only a problem if the risk-taker is insulated from its consequences.”
At one time I believe infusing capital into a business was a risk/reward venture.
Is this guy a clueless idiot or just a shameless liar, or perhaps both?
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