Presidential Drivel

I don’t care much for the likes of GS and Buffett, but politicians are as bad. Here is the President:

“Put simply, Wall Street reform will bring greater security to folks on Main Street. My responsibility as president isn’t just to help our economy rebound from this recession; it’s to make sure an economic crisis like the one that helped trigger this recession never happens again. That’s what Wall Street reform will help us do. You’ll be empowered with the clear and concise information you need to make the choices that are best for you. Well help stop predatory practices, and curb unscrupulous lenders, helping secure your family’s financial future. With reform, well make our financial system more transparent by bringing the kinds of complex, back-room deals that helped trigger this crisis into the light of day. Well prevent banks from taking on so much risk that they could collapse and threaten our whole economy.”

That is a nonsensical statement designed only to get votes from people too dumb to know whether they are coming or going. Clear and concise information was ALWAYS there for Main Street to make a decision. The President’s statement is designed to absolve all blame from the millions of American idiots who took on massive debt of their own free will. Some new law will provide for the American family’s long term financial security? BS.

6 thoughts on “Presidential Drivel

  1. Meanwhile, the Fed is loaning money to banks at 0% interest and buying 1.5b in mortgage backed securities…setting up the next crisis.

    Meanwhile, the call for a reinstatement of Glass-Steagel is being drowned out by GS, MS, and others in Wall St and around the world.

    Sad state of affairs…but will be good for trend followers.

  2. I don’t think the Constitution says the responsibility of the President is to help the economy out of a recession or make sure it doesn’t happen again.

  3. Your responsibility Mr. President, is to get the heck out of lives and stay out of it……

  4. What the President is saying, is watch as the Government zeros in on your 401K and IRA accounts. Allowing investing only in Government bond, For OUR protection from the BIG BAD Market, but not from the REALLY BAD OUT OF CONTROL SPENDING US GOVERNMENT.

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