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Obama: Wall Street Will Play Less Dominant Role
foxnews.com ^

Posted on 05/03/2009 4:54:38 AM PDT by 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.

(Excerpt) Read more at foxnews.com ...


TOPICS: Business/Economy; Front Page News; US: New York
KEYWORDS: agenda; bho44; economy; obama; second100days; socialism; wallstreet
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To: old curmudgeon
So Wall Street will move to London.

And Asia...

41 posted on 05/03/2009 6:12:21 AM PDT by April Lexington (Study the constitution so you know what they are taking away!)
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To: Dahoser
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...
42 posted on 05/03/2009 6:13:59 AM PDT by April Lexington (Study the constitution so you know what they are taking away!)
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To: jersey117
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!
43 posted on 05/03/2009 6:15:10 AM PDT by Bull Man
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To: penelopesire; All

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/


44 posted on 05/03/2009 6:15:16 AM PDT by jersey117
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To: April Lexington

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


45 posted on 05/03/2009 6:22:26 AM PDT by wombtotomb
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To: penelopesire
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?

46 posted on 05/03/2009 6:23:52 AM PDT by jersey117
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To: Izzy Dunne

“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.


47 posted on 05/03/2009 6:25:56 AM PDT by mmanager (It is time to prune the tree.)
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To: jersey117
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?

48 posted on 05/03/2009 6:28:29 AM PDT by catnipman (Cat Nipman: Made from The Right Stuff)
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To: jersey117
So will Main Street.
1600 PENNSYLVANIA AVE will play main role as long as BO is in charge.
49 posted on 05/03/2009 6:30:43 AM PDT by DeaconRed (Three Things to know about torture: 1-.Red is Positive. 2-.Black is Negative. 3- Nuts must be wet..)
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To: jersey117
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.
50 posted on 05/03/2009 6:31:37 AM PDT by Don Corleone (Leave the gun..take the cannoli now reads "Oil the gun..eat the cannolis.")
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To: old curmudgeon
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).

51 posted on 05/03/2009 6:32:12 AM PDT by Veto! (Opinions freely dispensed as advice)
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To: jersey117

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.


52 posted on 05/03/2009 6:41:14 AM PDT by mtrott
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To: mtrott

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


53 posted on 05/03/2009 7:01:41 AM PDT by jocko12
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To: jersey117

We are watching Atlas Shrugged playing out in real time.


54 posted on 05/03/2009 7:07:16 AM PDT by magellan
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To: jersey117
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.

55 posted on 05/03/2009 7:11:44 AM PDT by taildragger (Palin / Mulally 2012)
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To: jersey117

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.


56 posted on 05/03/2009 7:17:47 AM PDT by The Great RJ (chain.)
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To: jersey117

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

Gee, is nobama prescient or what?


57 posted on 05/03/2009 7:18:40 AM PDT by upchuck (I'm glad I'm old. Thus I can remember when America was a decent, moral, God fearing country.)
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To: Dahoser
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?

58 posted on 05/03/2009 7:19:32 AM PDT by mia
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To: jersey117

Dictator....


59 posted on 05/03/2009 7:24:05 AM PDT by richardtavor (Pray for the peace of Jerusalem in the name of the G-d of Jacob)
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To: Don Corleone

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”.


60 posted on 05/03/2009 7:29:16 AM PDT by Bullfrogg
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