07
Mar
09

What’s the Problem: Wall Street or Government

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OK, I can understand there’s a few executives upset over their bonuses packages being limited by our President and taking a lot of heat for being basically caught gambling with our hard earned wages, pensions, retirement funds and tax payer dollars, but lets remember rewards to go the “winner” and not the “swindlers”.

This comes to my attention, really since the election, back on November 4th,   Wall Street doesn’t like President Obama for reasons that started some time back in the Presidential Primary’s.  What I’ve noticed is when he spoke of the economy and his concerns over Health Care the markets closed lower on that day; not by the small time investors, but more so by the big stock block buyers in the market.

Now the economy is in trouble over the lack of enforced regulation of the market; I sincerely believe they’re forcing the blame of our slowed recovery on the President, by when he speaks of bailing out companies the market swings positive, when he referrers to the market in negative light, it falls, especially when he refers to Health Care.

Since the Reagan years I feel Wall Street has always had there way in the White House, and this notion holds true for both Republican and Democratic Administrations.  It’s time for this to come to an end by reminding these “Fat Cat Institutions” the White House is located on Pennsylvania Avenue in Washington and not Wall Street in New York.

Here’s what I consider a very neutral article, posted by the Associated Press and authored by Ben Feller, entitled: ” Obama: Stocks are a `potentially good deal’”.  I have taken the liberty of high lighting certain lines and phrase, which are relevant to the points I’m attempting to make within this posting.

Stock Exchange

Stock Exchange

Obama: Stocks are a `potentially good deal’

By BEN FELLER – 3 March 2009
Associated Press Writer

WASHINGTON (AP) — As Wall Street tumbles, President Barack Obama offered up some investing advice on Tuesday, telling a wary nation that stocks are becoming a “a potentially good deal” for those willing to think long term. The White House later cautioned people not to read too much into the statement.

Obama also said he will not base policy on what he called the “day-to-day gyrations of the stock market.” The Dow Jones industrial average fell again Tuesday after plunging on Monday to it lowest level in more than 11 years.

The index has lost more than half its value since a record peak in October 2007. The toll on retirement plans, college savings and nest eggs has been huge.

“You know, the stock market is sort of like a tracking poll in politics,” Obama said during an appearance with British Prime Minister Gordon Brown. “It bobs up and down day to day, and if you spend all your time worrying about that, then you’re probably going to get the long-term strategy wrong.”

Yet lately, Wall Street’s direction has been down, period. Investors are in despair over the state of financial companies, the deepening scope of the recession and doubts about the government’s various attempts to bolster the banking sector and create jobs.

Obama says those plans will work.

I’m absolutely confident that credit is going to be flowing again, that businesses are going to start seeing opportunities for investment,” he said. “They’re going to start hiring again. People are going to be back to work.”

The White House is out for a balance. Obama and his aides must recognize the depth of public worry and fear about the unraveling stock market, yet keep trying to get people to understand that Wall Street is just one, volatile measure.

Obama said his focus is on the long-term recovery of the U.S. and world economy. He said lax regulation and risky, faulty investing have put a beating on the banking sector, which in turn has resulted in a lot of losses.

It’s not surprising that the market is hurting as a consequence,” Obama said.

And then he sounded a bit like a financial adviser by referring to a common measure used to assess whether a stock is overvalued or undervalued.

What you’re now seeing is profit and earning ratios starting to get to the point where buying stocks is a potentially good deal,” he said, “if you’ve got a long-term perspective on it.”

Was that the president telling people to buy stocks?

White House press secretary Robert Gibbs urged caution. He said people shouldn’t “overly read into” any suggestion that they should buy or sell in their particular portfolio. Asked again to calibrate exactly what Obama meant, Gibbs said: “I guess I didn’t read into it as much as many people may have.”

In his comments with Brown, Obama urged the American people to take a longer view as massive efforts to reshape the economy unfold.

We are cleaning up a mess,” he said. “It’s going to be sort of full of fits and starts in terms of getting the mess cleaned up, but it’s going to get cleaned up.”

The following YouTube video is an ABC News clip entitled: “Wall Street Hits 12 Year Low With Obama’s Socialist Policies”, which was posted on February 23rd of this year and what some American Institutions and people feel President Obama is attempting to do with our banking system.

Wall Street Hits 12 Year Low With Obama’s Socialist Policies

Since Feb 10, when the Obama administration announced it’s plan for socializing the banking system, stocks have lost nearly 14% of their value.

“Wall Street is the bastion of Free Market Capitalism, and Nationalization, even if it’s meant to save the banks, is something that happens in socialist countries. It’s not supposed to happen in the US” – ABC News

Of Course, many are becoming aware that both Democrats & Republicans are to blame for the situation the United States is in.

Congress, our Presidents, and ultimately the people, are to blame for being ignorant or supportive of the private Federal Reserve system, and allowing it to continue it’s monopoly, control, and manipulation over the entire United States money supply, resulting in artificial boom and bust cycles.

Our third President and author of the Declaration of Independence, Thomas Jefferson, often stated that a central bank was the most dangerous threat to freedom and the United States. President Jefferson got rid of the 1st Bank of America. And, President Andrew Jackson got rid of the 2nd Bank of America, calling it a “den of vipers and thieves.”

Our third central bank is disguised as the “Federal Reserve,” but it’s no more federal than the Federal Express shipping company.

Help restore freedom to America, join;

http://www.campaignforliberty.com

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1 Response to “What’s the Problem: Wall Street or Government”


  1. March 8, 2009 at 11:05 PM

    Tom – I have no sympathy for the Wall Streeters. Wall Streeters and other financial institutions have been GREEDY and they have destroyed our economic system with their laissez-faire capitalism which lacked regulation because they lobbied for less regulation and they abused it.

    Since Wall Streeters believe in the market correcting itself – and since we American taxpayers have already given them BILLIONS — I think it’s time all these financial geniuses that have been receiving millions and millions in bonuses show us what we’ve been paying them for and where their genius lies. They need to fix their companies or they need to fail at this point.


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