Maybe I'm becoming paranoid or turning into a conspiracy theorist, but I wonder if any of Obama's friends shorted bank stocks just before he announced his plan to increase regulation and taxes on banks? The market, bank stocks in particular, may have been poised on a correction cliff but the President's rhetoric - populist, self righteous anger - certainly pushed it over the edge.
Didn't one of Obama's Chicago advisors once say, "You never want a serious crisis to go to waste."?
Let me take off my tinfoil hat and say there are probably two more likely reasons for his public bank bashing. He may believe attacking the banks, who everyone loves to hate, will take the heat off the Massachusetts Revolution and/or his far left ideology blinds him to the consequences of his policies.
This is not to say that banks don't deserve condemnation but once again politics and spin trump rational discussion and transparency. For another view on the subject, read the commentary by LA Times writer Michael Hiltzik.
Posted by warrenpeterson at January 27, 2010 01:05 PM | Email ThisFunny, I still don't see any reform for Fannie/Freddie and we gave them a few hundred billion in bailouts. Where's the accountability?
The left always needs a boogeyman, and right now it's the banks and insurance companies.
Posted by: Palouse on January 27, 2010 03:34 PMThere are wealthy people who don't work.
And there are high income people who work hard.
The Democrats are the party of the Aristocracy.
They are the people like Maria Cantwell and Nancy Pelosi who made their money eons ago and are sitting on giant nest eggs. They use the Government to protect their assets.
Then there are people like high tech consultants, doctors, lawyers, salesmen...who work hard every day to bring home their (low) six figure income.
These people are the "wanna be rich". They are forever thwarted by the Democrat Aristocrats who throw taxes and barriers in their way. These are the Real Republicans.
Maybe you're emitting vast quantities of warm, wet vapor from one end of your gastro-intestinal tract. Maybe you're dishonestly smearing an innocent man with innuendo. Maybe you have not the slightest clue of what you're talking about. Maybe you have absolutely no evidence of any kind whatsoever to support your accusations.
If any or all of the above are true, you're well-qualified to post here.
Posted by: tensor on January 28, 2010 12:14 AM