Posted on 12/07/2010 2:22:45 AM PST by Scanian
For all of President Obama's rhetoric about "fat cat" investment bankers who gambled the country into economic decay, he sure seems to have a larger soft spot for big Wall Street than for average Americans.
After all, his latest push to "remedy" 9.8 percent unemployment for the masses is an extension of unemployment benefits. Meanwhile, his policies aren't just making Wall Streeters rich, as bonuses are expected to hit record highs this year. They're also likely
This divergence ought to be a big story -- but don't bet on it: The establishment media have been largely silent amid the multiple failings of Obamanomics. For two years now, most reporters have gone out of their way to blame the country's staggeringly high unemployment on the Bush policies that they claim led to the financial collapse and the broader collapse of the economy.
OK, Obama did inherit a mess -- but his policies to turn around the economy have utterly failed to deliver on promised outcomes. Remember the 8 percent unemployment rate we were supposed to get if we spent $800 billion on fiscal stimulus?
Actually, the CEOs I speak to say Obama made a bad economic situation even worse.
(Excerpt) Read more at nypost.com ...
Obamanomics=Poverty
Wall Street backs Obama because they have Obama to bail them out.
While they were in power, why didn’t the Dims repeal the law that prevents the “regular” people from getting rich in America ?
There must be such a law keeping the hardworking “middle class” down, right ? Isn’t that what justifies punishing the upper income folks with progressive taxes to redistribute their unfairly gotten gains back to the people who really deserve it ?
I hate to say it but Gasparino is right. Having worked on Wall Street in the ‘80s, I think today’s Wall Street does not represent real capitalism anymore. It is crony capitalism writ large where losses are nationalized and profits privatized.
Real capitalism does exist among hedge funds and tech firms, but the brokers and investment banks are playing a different game with Washington.
Why this assumption that he (Obama) doesn't know what he's doing?
bump
Gee, that used to be a good thing.
Most pundits prefer to accuse Zer0 of ignorance rather than call him dishonest and corrupt.
I really think he is a vile mix of all three.
Real wages (adjusted for inflation) in the USA have been flat since 1972. People that get paychecks have not improved their lives economically since 1972. 39 years of no improvement in the average Americans life economically. That is after the personal computer revolution, the internet revolution, robotic manufacturing advances, advances in medicine, farming, and practically every sector in the economy. The gains are all collected by a small sliver of the people.
Few are talking about it when everyone should be.
Politicians don’t seem to be doing so bad either.
How many congressionals become millionnaires? How’s that for being a fat cat congressman/woman?
Created by himself and his party.
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