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To: IbJensen

It could very well be. A lot of Americans hate Wall Street and see it the symbol of American greed. They don’t know what they’re talking about, but see it that way nevertheless. And Obama has been playing up that perception every chance he gets. He continually uses it to divide the country.


6 posted on 07/20/2010 11:40:11 AM PDT by twigs
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To: twigs

Hate to tell you this, the American people do know about Wall Street and have every right to hate their guts. Government played a role in providing cheap money, but government never told rating agencies to take junk mortgage backed securities and rate them AAA. Gov never told banks to tell borrowers make up their income so they can get larger loans and the banks were never told to make up RICO scores showing these liar borrowers had outstanding credit scores. Gov never told banks to encourage college students to have credit cards when they were still in school nor qualify working poor Americans to have credit cards (something banks never did twenty years ago). Before you rant and rave that I am a Communist Dem stooge, I used to work in a mortgage company when strict practices produced good loans, sound mortgage backed securities one can invest in and a booming economy in housing to boot. That was twenty years ago, today it seems like a different world. By the way investment bankers back then wore pin striped suits and made money slowly, not like the cowboy computer geeks traders who took over and manipulated/leveraged paper with computer models to boom or bust investments. Free market is about capitalism based on discipline and long term responsibilities/obligations. Today it is capitalism at worst described by Karl Marx where profit comes before country, and fellow citizens. Pump, make money before the bust and leave the other fellow (taxpayers and future generations) holding the bag.


15 posted on 07/20/2010 1:26:41 PM PDT by Fee (Peace, prosperity, jobs and common sense)
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