Guest NewsBot Posted September 14, 2009 Posted September 14, 2009 WASHINGTON (AP) -- Pushing Congress to act on proposed financial regulations, President Barack Obama is going to the heart of Wall Street on the first anniversary of Lehman Brothers' collapse to outline changes needed to prevent a future crisis like the one that sent the global economy into a tailspin last year.... By BEN FELLER More... Quote
RoyalOrleans Posted September 15, 2009 Posted September 15, 2009 There he was, our anti-capitalist president on Wall Street yesterday. He was there to proudly announce his intentions to pile a bunch of new regulations on our financial markets. Well ... at least he comes by that honestly. After all, if you distrust and even dislike the free marketplace, and if you have the power ... why NOT regulate? Obama sees the government as the only entity that can straighten out our economic situation right now, so to him Wall Street must seem like enemy territory. Maybe someday Obama can make a speech in Washington and tell us about all of the reforms he's going to introduce to stop government from meddling in the free marketplace. Sure ... Wall Street had a ball creating all sorts of investment vehicles with these worthless home loans; and those investments finally tanked. But what about addressing the people who made those worthless home loans possible? Names? OK, how about Barney Frank and Chris Dodd? Just remember folks, Wall Street wouldn't have been able to aid and abet a financial disaster this way if our wonderful federal government hadn't enabled and promoted those worthless home loans. The source of the problem, President Obama, was Washington DC, not Wall Street. Quote To be the Man, you've got to beat the Man. - Ric Flair Everybody knows I'm known for dropping science.
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