looks like president obama may be in the midst of losing the support of some of his biggest backers in 2008 -- the financial professionals on wall street!
Romney Lures Obama Wall Street Donors - Bloomberg: "The industry opposed efforts by Obama to impose new regulations and consumer protections on the financial sector, blamed for contributing to the worst economic slowdown since the Great Depression. Obama signed the new rules into law last year.as one of my old bosses used to say, it's going to cloud up and shit!
Romney has called for repeal of the new financial law, which, he said in his jobs plan, “sends a flood of new regulations washing over the financial sector and anyone seeking to borrow money to buy a home or build a business.”
Emil Henry Jr., a former Bush administration assistant treasury secretary who is organizing fundraising events for Romney, said, “Wall Street is gravitating towards Mitt Romney and away from President Obama because financial professionals see clearly the severity of our country’s financial problems and view Romney, with a 25-year career as a turnaround specialist, as the most capable to address those problems versus a career politician with zero financial background.”"
actually, it's by no means certain what relevance this has, if any. obama has his -- how shall we put it? -- fundraising strengths. his team seems confident that they can raise a billion bucks for his reelection -- and if you believe the line they put out last time about the money coming mostly from small donors, then you're gullible enough to have voted for the snake.
well, me too. never has any politician faked me out so successfully, which is how he could win while running on a progressive platform, leading people to believe in his promises of hope and change.
nonetheless, it is instructive to note how fickle and unfaithful the financial services people can be. obama was their spear carrier, their water boy, the guy who delivered the big bailout bucks when they most needed a fat bonus, and this is how they reward him! sure, a toothless "reform" bill was passed, with additional regulations, but given the mood of the country after wall street's shenanigans crashed the global economy, you'd think they could stand a little bit of chastisement. after all, they didn't reinstate glass-steagall, did they? of course not, and in fact they allow the banks to grow larger and costly to save. the TBTF are now so insolvent and deep in the hole that the US treasury secretary is in europe hectoring the ECB and EU finance ministers to do something about the contagion of debt collapse that threatens to bring down obama's erstwhile supporters on wall street.
where's the love, guys?
obviously, if you aren't with the #occupywallstreet movement, you are part of the problem that is strangling this country and the rest of the countries that are caught up in this unsustainable web of debt that wall street's banks have created as a snare to suck down all the world's wealth. we need to separate these guys from our political process, and we have to can the politicians who are willing to accept their filthy lucre in exchange for aiding and abetting the global ponzi that's impoverishing the working people of the globe.
it's a truism that no one can serve two masters, and that goes for politicians, and for our political system as well. either the system is setup and run for the benefit of the plutocrats or it exists to serve "we the people" as is specified in the preamble to the constitution. we can't have a system that exists to enrich a tiny minority, and expect that their their magnificent generosity the wealth will come trickling down to all the rest of the anxious peons. that's the model that the state has evolved into, and if allowed to proceed in this manner, the result will be a cataclysm that all the money on wall street can't suppress.