Sunday, May 03, 2009

Obama "does" Wall Street (and us)

According to Fox News today:

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.

So our president, who has never had a single fucking job in the private sector, plans to permanently kneecap our economy. Given that he's a Cook County thug, I ought not be too surprised.

He also wants to see us headed toward "central planning":

"That means that more talent, more resources will be going to other sectors of the economy," he said. "I actually think that's healthy. We don't want every single college grad with mathematical aptitude to become a derivatives trader. We want some of them to go into engineering, and we want some of them to be going into computer design."

No, "we" sure as bloody fookin' hell wouldn't want Americans to pursue whatever career that they, as free individuals under our Constitution, wish to pursue. "We" definitely cannot allow Americans to pursue life, liberty and happiness which isn't mandated by the state. Because that wouldn't be "healthy".

Up yours, you goddamned half-honky, socialist piece of shit. You are clearly too ignorant to comprehend your oath of office, to which your above statement is absolutely antithetical.

The Obama administration is trying to restore more regulations on the financial sector to avoid some of the risk-taking that helped cause the current economic problems.

You mean the risk-taking which has made us the most prosperous and successful nation in all of human history? Or the "risk-taking" which atrocious government policies like the Community Reinvestment Act (not to mention strong-arming of lenders by community activists like yourself) actually mandated?

You also demanded and enabled policies which forced banks to loan money to poor credit risks, which led in large part to the financial disaster of last year. How'd that work out for you, Barry?

And now you think that even more government intrusion will make things better? As G.B. Shaw wrote in Pygmalion, "E's off 'is chump, 'e is!".

"Wall Street will remain a big, important part of our economy, just as it was in the '70s and the '80s," he said. "It just won't be half of our economy."

Unfortunately, that's the half of our economy which more than 50% of Americans were invested in through such things as pension plans, 401(k)s, etc. And lost their asses to the tunes of trillions of dollars in value. Much of that on your watch, bucko.

Obama said he expects that government efforts to fix the economy will cause long-term changes.

No shit, Poindexter.

"What I think will change, what I think was an aberration, was a situation where corporate profits in the financial sector were such a heavy part of our overall profitability over the last decade," he said.

Well, ain't gonna be so profitable now, is it? "Mission accomplished!", bub.

Obama said he's confident that people will regain trust and confidence in the financial system, but he believes it will take time. least long enough to throw this bum out of office and relegate his administration to the ash heap of history.

"I think it's important to understand that some of that wealth was illusory in the first place," he said.

As is your belief in your own competence, pally.