NY Times interview with President Obama reveals his secret plan for communism.
Are there tangible ways that Wall Street has made the average person’s life better in the way that Silicon Valley has?
THE PRESIDENT: Well, I think that some of the democratization of finance is actually beneficial if properly regulated. So the fact that large numbers of people could participate in the equity markets in ways that they could not previously — and for much lower costs than they used to be able to participate — I think is important.
Now, the fact that we had such poor regulation means — in some of these markets, particularly around the securitized mortgages — means that the pain has been democratized as well. And that’s a problem. But I think that overall there are ways in which people have been able to participate in our stock markets and our financial markets that are potentially healthy. Again, what you have to have, though, is an updating of the regulatory regimes comparable to what we did in the 1930s, when there were rules that were put in place that gave investors a little more assurance that they knew what they were buying.
OMG TERRORIST FIST BUMP!!!!!
J.
What’s up with you, Mr. Tea? You just find Zuzu’s petals in your pocket?
I’m waiting for some wingnut to claim that Obama’s taking a swing at a United States soldier.
“boyz n da hood”-Larry Kudlow
Just feeling a bit puckish of late, Quaker. Nothing wrong with mocking the silliness of “my” side every now and then. Hell, I got a friend I greet with “terrorist fist bump!” every time we meet.
I prefer to save my criticisms of Obama and his crowd for the substantive stuff. Consequently, I feel almost obligated to mock the dumb stuff.
J.
I prefer to save my criticisms of Obama and his crowd for the substantive stuff.
Substantive stuff? Huh? Since when?
Just feeling a bit puckish of late, Quaker.
By all means, carry on.
So Obama is in favor of “proper regulation” and against “poor regulation.”
Bold.
So Obama is in favor of “proper regulation” and against “poor regulation.” Bold.
Relative to the clowns that suscribe to the ‘all/most regulation is socialistic and evil’ dogma, it is kind of bold.
Jay Tea: I prefer to save my criticisms of Obama and his crowd for the substantive stuff.
Like giving toys to children, and birth certificates, and ipods, and bows, and…
Yeah, stick to those “substantive” things, Jay.
…the pain has been democratized as well.
Looks like the pain from the financial meltdown was socialized rather than democratized. The average taxpayer will be footing the bill for generations to come, and the greedheads who got us into this get bonuses. That don’t sound like democracy to me, pilgrim
Democratized, in obama-speak, means given over for control by the Democrats. Previously, it was controlled by people who contributed large sums to the campaigns of Democrats. Direct control will be much more efficient–AKA the change we can believe in.