Boy – is Obama out of touch. One too many shave ice, yeah?
Yeah, right, Obama. And no bank execs gone to jail thanks to Eric Holder’s DOJ.
Reflecting on his economic legacy, President Barack Obama disputes the conclusion in “The Big Short” movie that nothing changed on Wall Street after the 2008 economic meltdown, and maintains that his policies have helped stabilize the financial sector.
In a wide-ranging interview with the New York Times published on Thursday, Obama bemoaned his fractious relationship with Wall Street, said finance is absorbing more science and engineering talent than it should, and speculated he might have gone into business if not politics. But he has little patience for criticism from business leaders.
“One of the constants that I’ve had to deal with over the last few years is folks on Wall Street complaining, even as the stock market went from in the 6,000s to 16,000 or 17,000,” he said, referring to the rise in the Dow Jones…
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It’s not the shaved ice that is clogging Obama’s brain about his take about Wall Street. He believes that now that Dodd-Frank law passed that we got better regulations for Wall Street and the big banksters will behave. Wrong! Dodd-Frank law has many loopholes in that bill and Obama forgotten that Volcker rule (which should have gone in effect when the bill was signed) was push out in 2017 to go into effect thanks to the bank lobbyists pushing Congress for an extension.Wall Street culture still has not changed as the same big banks that crashed the economy continue to be investigated, fined, and settled their crimes with the government.
POTUS lobbied for that 2017 change, which forces the tax payers to be responsible again, in another failure. He is not oblivious, he is complicit.