Sunday, September 30, 2012

Wall Street Will Just Have To Wait A Little Longer For The Complete Take Over They've Been Dreaming Of


Don't worry about Wall Street. They're all set. No matter who wins the presdiency, no matter which one of the corrupt Beltway party establishments is in charge of Congress, Wall Street will be well taken care of. Sure, they would have loved to have had one of their own in the White House and to have placed their own little Frankenstein monster in as VP. But Obama hasn't really given them anything serious to worry about and they'll be perfectly fine with a corporate whore and investment bankster like Erskine Boyce Bowles-- currently on the boards of General Motors, Morgan Stanley, Facebook, Norfolk Southern and North Carolina Mutual Life Insurance-- as Secretary of the Treasury. As Ben White and Anna Palmer said, Wall street might not be getting their "dream candidate," but they certainly know how to work with Obama to further their own interests-- even if he did call them "fat cats" once. And, of course, the criminal banksters-- who were not prosecuted under the Obama administration-- "still go to Romney fundraisers, open their wallets and hope for the best, especially in the upcoming debates. It’s just that Wall Street and the business community tend to follow data and play percentages. And right now they [the data, not the banksters] favor the president."
It makes for an uncomfortable moment for Wall Street, which came out much more aggressively for Romney than Obama this year, after Obama made significant inroads with the finance sector in 2008.

The shift in tone among executives toward Obama was on display at the Clinton Global Initiative this week, where several CEOs softened their criticism of the president. Goldman Sachs CEO Lloyd Blankfein acknowledged there had been widespread “disappointment” with Obama within his firm and across Wall Street.

But he also said that it was time to move on and finally deal with rising debt and unsustainable entitlement programs. “People who have been pouting and holding their breath aren’t going to want to do that for four more years,” he said.

John Chambers, CEO of Cisco Systems and a strong Romney supporter, spoke of bridging partisan divides on taxes and spending should Obama win a second term. And in an interview with Reuters, Chambers said whoever wins should govern like Bill Clinton. “There’s a lot to learn from President Clinton. It kills me as a strong Republican saying it, but he was the most effective president during my lifetime,” Chambers said.

The Obama administration has already begun laying ground work for improving its soured relationship with corporate America in a possible second term.

...Inside the Beltway, financial services lobbyists are starting to hedge their bets. For many in the industry-- private equity, hedge funds and investment banks-- the ramifications could be huge if Democrats retain the Senate and Obama is leading the effort to a major tax overhaul.

Perennial issues like carried interest, a favorite hobby horse of Senate Democrats, could be on the chopping block. The industry most certainly would be on the defensive, according to several financial services lobbyists. And the optimism that agency heads would change and new rules in the pipeline like the Volcker Rule would vanish or get watered down is no longer the case.

Despite the most recent polls and economic forecasts, not all banking lobbyists are willing to concede the election. “The banking industry knows for them this is by far and away the most important election, bar none,” Consumer Bankers Association President Richard Hunt said, noting the headwinds against banks will be much stronger in a second Obama administration.

What a drama queen! He knows perfectly well that Obama will continue to protect their industry against the accountability they've earned. Today is the last day of the FEC quarter. If you'd like to help bring some much needed accountability to the banksters and other financial predators, these 16 House candidates who have been campaigning on the working family values inherent in Prosperity Economics and to protect America from Austerity (the 2012 version of Voodoo Economics or Trickle-down economics) are far more likely to be looking out for our interests than Obama or any Blue Dogs or wretched New Dems ever will. This is how Alan Grayson put it after he had read Hacker's and Lowentheil's proposals:
The Seinfeld show, which TV Guide named the greatest TV show of all time (seriously), often was described as a show about nothing. We are in danger of the 2012 Election becoming an election about nothing. When a nation is facing the kind of problems that we are facing, then Barack Obama’s birth certificate, his religious beliefs, Mitt Romney’s gaffes, his personal deductions, and even Todd Akin’s understanding of female anatomy all are the moral equivalent of nothing. This coming election is too important to be about nothing. And that is why Nate Loewentheil’s “Prosperity Economics” platform is important-- it’s not nothing, it’s something. Something big. For a Democratic victory to be meaningful, for it to create a “mandate,” we owe it to America to explain what we would do with that victory. We need to make some promises, and then do our darnedest to try to keep them. “Prosperity Economics” is a coherent, comprehensive plan that offers the hope-- the essential hope-- of leading us out of the wilderness.
It's important to make sure Romney and Ryan don't get into office. It's crucial people like Alan Grayson do. Please do what you can to help. This is one way to do that. Getting Grayson back on the House Financial Services Committee... now that would be something. Remember this? It might be the most viewed House committee testimony in history. Over 4 million people have watched it so far.

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At 11:55 PM, Blogger John said...

And Goldman Sachs CEO Lloyd Blankfein is disappointed because Obama has provided him and his ilk with cash and guarantees worth "only" a few times the global gross economic product?

These monstrous fucks give a bad name to the term "bottomless greed."

John Puma

At 5:12 AM, Blogger John said...

“There’s a lot to learn from President Clinton."

Oh, indeed, he was a Republican president's veritable wet dream.
A biggest hits (misses?) list:

1) Failure to start HIS healthcare reform negotiation with a direct appeal to the public proposing and seeking support for Medicare for all.
2) Defense of Marriage Act
6) Telecomm Deregulation of 1996
7) “end of welfare as we know it”
8) repeal of Glass-Steagall Act
9) legalization of OTC derivatives (Commodity Futures Modernization Act of 2000)
10) Faithful maintenance/extension of Pappy Bush’s war crime of “economic sanctions” that were collective punishment of Iraqis and, as easily predicted for such sanctions, were merely a strategy to “soften up” a target country in preparation for a follow up war.
11) destruction of Yugoslavia for having the nerve NOT to chirp "how wide, massa" when ordered by the global predatory capitalists to spread the national ass cheeks.

John Puma


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