Obama: Wall Street Will Play Less Dominant Role

foxnews.com ^

[jersey117]

Wall Street is not going to play as dominant a role in the economy, president says. WASHINGTON - 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.

[April Lexington]

So Wall Street will move to London.

And Asia...

[April Lexington]

I'm not sure that after 40 years of social list public education Joe and Jane even understand what we are debating. Clueless serfs, all. They like him because he's good looking...

[Bull Man]

The economic ignorance here is staggering. All Wall Street is a method to facilitate the flow and distribution of capital. Ideally, it flows to and rewards success, and inversely away from and punishes failure. There is already complaints of a "capital strike" in the markets...how long until government tries to fix that too. Egad!

[jersey117]

Thanks! Sorry about that. Here’s a link to the actual story.

http://www.foxnews.com/politics/2009/05/03/obama-wall-street-play-dominant-role/

[wombtotomb]

My neighbor actually said that. She thinks his big ears are too adorable......

[jersey117]

Now we know why Air Force 1 was terrorizing the Goldman Sacs building and all of Wall Street last week.

Hmmm. Air Force one sending a message to Wall Street that he's in charge?

[mmanager]

“Risk-taking is only a problem if the risk-taker is insulated from its consequences.”

At one time I believe infusing capital into a business was a risk/reward venture.

[catnipman]

So, I wonder which half of the economy Wall Street produces? Is that half of the GDP that is produced by Wall Street or does it employ half of all the workers in the U.S.?

Is this guy a clueless idiot or just a shameless liar, or perhaps both?

[DeaconRed]

So will Main Street.
1600 PENNSYLVANIA AVE will play main role as long as BO is in charge.

[Don Corleone]

Wall Street WAS the economy, or at least reflected it. Now we will have none to reflect after O’Bambi’s assault on the free enterprise system.

[Veto!]

All of the big bucks have been spent on the very people Obummer, the Marxist, rants about being evil. His cabinet is staffed with people from those financial organizations. It is all smoke and mirrors to get the little man to vote for him, and like sheep they will.

Exactly. And the Blackberry Generation, from 8 - 81, does nothing but waltz around "social networking" day and night, never reading more than a Twitter-length news report. I don't think they'll even notice when Wall Street becomes Кра́сная пло́щадь (Red Square).

[mtrott]

The idiot is not going to have any of the “rich” left to soak with his higher taxes. He based his whole “re-making America” plan on being able to raise taxes on the rich, and redistribute the money and “grow the economy from the bottom up”. We will see how that works out when the poor keep squandering what is redistributed to them on cigarettes, booze, and drugs, and then the rich are not so rich any more.

[jocko12]

Obummer will be FARTING in the wind for the next 3+years.

[magellan]

We are watching Atlas Shrugged playing out in real time.

[taildragger]

Not investment advice, but maybe it is time to starve them all, of capital.

I read of folks here trying to get by on 12 grand a year, the Federal threshold for a family of 4 to pay no taxes.

Maybe it is time to go to cash type intruments in all are various investment portfolios to see how long greedy wall street can go without "our capital". This guy IMHO couldn't pass an ECON 101 or ACCTG 101 class to save his butt, how clueless can he be.

[The Great RJ]

When do we get our government 5 year economic plan that determines all facets of the economy including how many rolls of toilet paper are to be produced and shipped to individual stores. This system works so well in the Soviet Union and produced perpetual shortages and long lines.

[upchuck]

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

Gee, is nobama prescient or what?

[mia]

I'm not sure people have yet to understand that the Wall St vs Main St thing is all about conditioning them to hate corporations and free enterprise."

In today's paper was pictures of CEO's from corporation's in the Buffalo area and their salaries. My husband picked up today's paper and said, "Well, the class warfare has begun." And, indeed it has. These men are not in businesses where the taxpayer is responsible for their salaries, so why is it our business what they earn?

[richardtavor]

Dictator....

[Bullfrogg]

you are dead right on Wall Street was the economy..our measure of success...sort of...One question that I would like to ask Obama, and maybe a decent answer without the teleprompter.....Since when did a poor man, or welfare, or the vagrants on the streets provided jobs for the homeless or unemployed, or provide revenue for the govmnet coffers, without the aid of the so called “rich man”.