All hail Czar Obama

This is from my facebook thread, just thought it was a good musing in my mind, I kept the friends name from not being put on here, but keep in mind this is an actual thread just because of the sheer lack of foresight of our president, it amazes me that he cant see this anyhow here is the thread.

Friend

Ok i went a tad overboard, but I need to release my anger somehow. He is the worst, most unqualified, embarrassment of a leader I have ever seen. Don't die.. Just get the flu... For 3 years. OMG MUZZLE ME!!!

Yesterday at 3:50pm ·

Me

First off friend you sound like you need a hug. I agree with your assement of his inexperience. Because of that he doesn't realize even though some of his ideas are logical and make sense he doesn't take into account the ramifications of his actions. He basically wants to alter the financial landscape because he doesn't want a repeat of 08 which is commendable and if he gets away will probably curtail any future meltdowns of those proportions, but the problem is we don't live in a utopia, our economy is a mess and by what he wants to do the ramifications would be more layoffs in the financial service industry that is already battered, less compensation, which sounds great to the avg joe plumber that the fat cat on wall st isn't getting richer, but once things trickle down and no one is getting paid and no taxes are being collected nyc is going to be in deep trouble, then when avg joe cop or avg bob fireman or sally the teacher gets let go(which is already happening fyi) everyones going to question why we are in such a mess and nyc is defaulting on its debts, now this is if this actually passes let's pray itr doesn't!. So to sum up his ideas aren't terrible, it just he doesn't consider the ramifications of those ideas, just one mans two cents

Yesterday at 4:23pm ·

Friend

Tom that was an incredibly delightful, well thought and diplomatic approach u took there-- unlike me- that compared the pres to a rectum and wished him death. Unfortunately my one way ticket to right-wing hell was secured a year ago, but u my friend, have the makings of a great political figure. Still I'd like to know how limiting our financial companies from making big profits is seen as sensible-- unless this was a communist country. Did u take notice of the market after his proposed overhaul on our banking system today? It seems as tho everything he touches turns into a hot steaming pile of dog doody. Also, Im not entirely convinced he doesnt understand the ramifications of his actions, but thats a whole other can of worms. PS I so needed a hug earlier... how did u know..lol.

Yesterday at 8:46pm ·

ME

First off Miss XXX thank you for your compliment. Secondly Ill gladly explain, the first problem was when we repealed Glass Steagel years ago that allowed your big commercial banks to become more riskier and start to get into riskier businesses that investment banks were in. The problem with this is that banks are the lifeblood of our ... See Morecountry, they affect our whole way of life. From starting your own business, getting a loan for school, or even putting a roof over your head one needs a bank's resources to make your dream come true. If banks are insolvent our country withers and dies. Now having said that the last few years in order to become more and more profitable for their shareholders and w/ Glass Steagel becoming a thing of the past banks basically become investment banks and started to mimic them in order to chase what their shareholders desire which is/was Growth, In doing so they become entangled in a real mess of financial products they didn't understand and got caught up by taking out too much leverage and when the shit hit the fan well you were alive then, now remember the banks are the lifeblood of our economy of our well being. So when the financial world came crashing down, it didnt matter if Goldman, Merril, Bear, Lehman, or Morgan fell apart, I mean well it did but what was a serious threat to the world was if Citigroup, JP Morgan, Wells, Etc were to somehow fall off the face of the earth. This would cause massive panic and something we havent seen since the 30's.Look how hard it is to take out a loan now. Now Obama like I said before doesn't want this to happen ever again, so now he's using these draconian measures that are sometimes extremely assanine to prevent this thing from happening again, he basically wants banks to become government sponsored enterprises that provide savings and loans to our country , just like they were many years before Glass Steagel was repelled. Now It may look like im an obama lover, but Im completely NOT, he forced Morgan and Goldman to become bank holding companies and now wants them to stop prop trading which is what they do because they technically still operate as an Investment bank. He wants to kill people for taking bonuses and like I said in an earlier post you need wealth to flow through the people to generate economic output. I also dont like the basic principle that most banks have already paid back the TARP with interest, they shouldnt be controlled by the gov't anymore, but from a populist view point he feels the need to tell them how to run their businesses and impose all these different sorts of financial burdens on them which will only hinder our economy. The way the government is set up is to provide for the people, to look out for the benefit of us and to protect our best interests and this is what they did by providing the cushion in order to weather what happened in 08, that should have been it, but now Obama is riding his high horse and wants to control, which I get but he is doing it all wrong. He should force firms to have stricter in house measures, limit leverage to tops 15-1, rather than the 40-1 of a few years ago, and also to spook them eliminate future TARPs and offer the last TARP as a one time only deal, if the banks get in trouble, its their fault, no one else's, I'm also a big of splittling up the banks, in order to generate competition and to also not have one bank so big that they 're failure could systematically bring down the world. Anyhow I said my vantage point, I will talk to you soon.

TP

Yesterday at 9:13pm ·

Friend

TP, first I must express, only as is properly respectful, my sincere personal thanks. I feel as tho I just read an instruction manual for a nikon FM2 camera, you bastard! I knew I was in trouble going into finance with you. Now if we were discussing history, philosophy or secular literature, I could hold my own, but this (although i believe i ... See Moregot the overall idea) im afraid I will need to read about 4 more times in the morning and get back to you when I am certain of what Im saying. Thank U again from the bottom of my heart and damn you finance Geeks. I will begin the arduous task later. Much love-xx

13 hours ago ·

ME

I heard the Nikon FM2 is a phenomenal camera, I understand that I pretty much just rambled on ad nauseum. I may not be correct in my thinking, its just my belief. This is more or a political vs finance argument for Obama, the people want blood because they are out of work or working for less and who else to blame but the big fat cats on wall st ... See Morecomplaining about only getting a half million dollar bonus when some guy in detroit cant pay his $100 heating bill this winter. The reality of it though is that globalization and transparency via the internet has hurt the US economy more than the fat cats of Wall St. could ever, why is GM bankrupt because we pay our workers 3xs as much as car companies overseas and a bloated pension, you cant compete as a retailer selling similiar goods as other stores when you can go online and find it for the cheapest possible price, I mean who can survive on those margins. RIght now we need a new revolution that will take hold that will create millions of jobs, i.e. in the 20's with cars, or the 90s with the internet, Im thinking the next big frontier is energy jobs, as we will find all different sorts of way to provide sources of energy for the world. It is already starting.....but I'll let you follow up on my last post before you jump into this one.........PS damn you Friend for making me think this much and make me write this damn much on my FB wall

7 hours ago ·