Posted on 03/05/2009 6:36:02 AM PST by Liz
WHAT'S REALLY SCARING WALL ST...... fresh threats of higher taxes on the most productive......bank bailout mystery..........contradictory policy measures......vows to unclog the banking system of toxic mortgage debt, along with a mortgage "cram down" that would make that debt more toxic. Candidate Obama won over the street even as he was bashing the financiers who'd plunged the country into crisis b/c of bad bets on risky bonds. Sources say Jamie Dimon, JP Morgan, Lloyd Blankfein, Goldman Sachs, John Mack, Morgan Stanley and Dick Fuld, then of Lehman Bros were supporters, as were Larry Fink of money-management powerhouse BlackRock, and senior execs at Merrill Lynch (ML's then-CEO John Thain supported John McCain).........unofficial polling shows sentiment has shifted dramatically...... when Obama urged buy stock Tuesday, the market sank. Obama's most ardent financial-industry fans are deserting him.
(Excerpt) Read more at nypost.com ...
Isn’t there some sort of “Return Policy” on stuff that you buy from a high pressure door to door salesman? /snic
“Obama’s most ardent financial-industry fans are deserting him”
Fools.
Supporting Obama shows extremely poor judgment. Especially if you are supposed to be someone with experience and insight into economic and financial issues.
These people are dolts.
This is just the usual disappointment inherent in an affirmative action hire.
They thought nobody could possibly be worse than Bush. The MSM told them so, so it must have been true. ;)
I refuse to participate, and changing banks and continuing to support my car's maker are two ways not to play.
They are fools. All these Harvard-educated Wall Street types are supposed to be SOOOOOOOOO smart, but your could easily dissect 0bama’s campaign speeches and distill his numbers from them. Put those numbers in front of any 3rd grader with a “B” in math and he or she would tell you they don’t add up.
Oh, but Wall Street, yeah, they’re smart.
“Isn’t there some sort of “Return Policy” on stuff that you buy from a high pressure door to door salesman?”
Yeah, I think they call it a COLB lawsuits. :)
From the article, here are the most significant points IMO...
The Obama budget and the so-called stimulus package don't just expand the deficit (as we should during a downturn), they do so in the most irresponsible ways, with pork and programs pulled from old liberal wish lists.On top of that, we get fresh threats of higher taxes on the most productive people in the country and a bank bailout that remains a mystery.
Didn’t his talk of bankrupting industries that weren’t “green” enough give them a clue?
Economic health of this nation was never a priority for him.
Social engineering is his number one priority.
These dolts ran around with their fingers in their ears singing “la la la la la” until after they voted for him.
Just goes to show how incredibly stupid the folks on Wall Street really are, big paydays for incredible stupidity for many decades... If you work on wall street and supported Obama to begin with you have shown yourself to be one of the greatest fools ever born.
The fact it has taken you 6 months to figure out this guys a joke, in every meaningful way shows just how much you value schmooze over substance.
You were warned.
And this should’ve surprised who during the campaign?
Yet Wall St. $$$ flowed into Obama’s coffers.
I think a lot of these “limosine liberals” have had a tacit understanding that they would be left (relatively) untouched. They assumed they would always be able to ride the tiger. Now they’ve helped elect someone who may really be acting on his rhetoric.
I really hope they take it in the shorts—big time.
Yesterday’s stock rebound may have been another dead kitten bounce.
Or it may have been due to the FDIC chairb$tch warning that FDIC was in trouble.
Regardless the market at this time is back down across most indexes:
http://bigcharts.marketwatch.com/markets/indexes.asp
That and JTP exposing him on the “redistribution of wealth is good for everyone” should’ve been a big heads-up (as if there was any doubt beforehand).
I bet the Wall Streeters, as they pulled the lever for Osama, never imagined they’d be pilloried as modern-day Mensheviks.
Yesterday’s bounce was driven by news from China. How sad is that? Construction and raw materials went up because China’s stimulus plan seeks to increase contruction. Hence, my FCX and other similar stocks had a nice day. Today’s drop, as I understand it, is driven by retail.
Well, no -- they're not stupid. They're actually really bright folks: you can't make mistakes as huge as they made without being really bright.
I would chalk it up to hubris and greed, not stupidity.
ping
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