Stuff Worth Reading
Posted by Jeff Pruitt - 12/15/09 @ 2:18 am - Filed Under Uncategorized
One Local and One National Today:
- Lockwood Marine
pens a letter to a local newspaper regarding the city’s
bailoutpurchase of the Renaissance Square property. - Yves Smith notes how empty
Team Obama’s faux populism rings:
“I did not run for office to be helping out a bunch of fat cat bankers on Wall Street,” Mr. Obama said in an interview on CBS’s “60 Minutes” program on Sunday.
Yves here. That is a curious and revealing statement. No, you may not have run for office on a “cream to the bankers, crumbs to everyone else” platform, but it is certainly what you have done at every available opportunity. Start looking in the mirror and owning your policies, instead of pretending you are somehow not responsible for them.
[...]
The industry signaled its complete disrespect for Obama when not a single Wall Street chief executive attended Obama’s anniversary of Lehman speech. They know they are in the driver’s seat because Obama already ceded too much and is now in no position to claw his way back. Had he acted boldly starting January 20, things could be very different, but he now lacks the strategic position to have any impact, and he never had the nerve to begin with.
A-f’in-men…
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3 Responses to “Stuff Worth Reading”
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Jeff,
Sounds like you are starting to doubt President Obama?
What will Kevin Knuth think?
Your friend,
Mike
Mike,
I didn’t vote for Hillary Clinton in the primary because I didn’t want to see a bunch of Clinton retreads pushing their failed policies on this country again. I believed that we needed change in Washington - it’s too bad Obama didn’t…
Government intervention in determining lending policy and in dictating executive pay and bonuses has sent the largest of US banks scrambling to get out from under TARP. With a little help from Warren Buffet, Goldman Sachs bailed out of TARP, followed by State Street Bank, JP Morgan/Chase and recently, Bank of America. Now Wells Fargo and Citi are scrambling to exit as well.
Bush, not Obama, is responsible for the TARP program, so believe it or not, Prez Zero gets a pass from me. However, anyone who believed that there was ever a populist bone in the body of the world’s most famous Community Organizer and narcissist, most certainly was wearing eyeshades.
Obama cannot push bankers anymore because the financial markets will go back into the dumpers and the recession will become a full-blown depression. Well, let me qualify that, by saying “If Obama had any understanding of economics …”