Obama’s recent comments regarding the economy and Wall Street are nothing short of nauseating:
He said a “what’s good for me is good enough” mentality has crept into parts of the business world while working men and women toil longer hours and still struggle to pay for health care, tuition and taxes.
“If we are honest, I think we must admit that those who have benefited from the new global marketplace — and that includes almost everyone in this room — have not always concerned themselves with the losers in this new economy,” the Illinois senator said.
“The danger with this mentality isn’t just that it offends our morals, it’s that it endangers our markets,” Obama said.
Of course Obama had to take the obligatory Democratic swipe at CEOs:
Obama blamed Wall Street for wasteful and unethical anti-market practices such as corporate boards that allow executives to set the price of stock options to guarantee they’ll make money regardless of performance and CEOs who get massive severance packages or perks even when workers lose their jobs or pensions. But he also accused the Bush administration of approving mergers with little scrutiny and maintaining more than $1 trillion worth of corporate tax loopholes.
Just in case you weren’t convinced that Obama is a collectivist, he made it abundantly clear:
I am asking you to join me in ushering in a new era of mutual responsibility in America," he said. He said he believes Wall Street leaders want to be part of building a more just nation, but they haven’t been asked before.
Not finished there, he also weighed in on the subprime mortgage “crisis”:
He said that trust can be restored by federal action like:
_ New mortgage rules with tough penalties for lenders who trick homeowners into loans they can’t afford;
_ An investigation of the relationship and business practices of rating agencies and their clients;
_ A five-star credit card rating system to inform consumers about the level of risk for their credit card, including how easily the company can change the interest rate;
_ A request that lenders show some flexibility to people trying to sell or refinance their homes.
http://ap.google.com/article/ALeqM5hEx3tiP…qjNmHR_oP6FZMuw
He makes Hillary look like a right wing fanatic.
