Let’s Hear It For the GirlPosted: November 15, 2011 Filed under: Banksters, Democratic Politics, Economy, Elizabeth Warren Campaign, Feminists, income inequality, investment banking, Media | Tags: Democratic party, Elizabeth Warren, Financial Crisis, Wall Street Reform 10 Comments
Elizabeth Warren, the Woman Who Would Throw Stones, The Matriarch of Mayhem, the Socialist Whore [according to an irate party crasher] dedicated to turn your first born into a Marxist revolutionary and the woman who dares to run for the late Ted Kennedy’s Senate seat in Massachussets has produced her first political ad. Ooooo, scary!
Now think about the ads Karl Rove’s outfit, Crossroads GPS, has run against Elizabeth Warren–the attacks, the baseless accusations. This straightforward introduction is a breath of fresh air. And that is why Elizabeth Warren is so very dangerous.
Let’s hear it for the girl!
The Bear WhispererPosted: September 14, 2009 Filed under: Bailout Blues, Equity Markets, Global Financial Crisis, The Bonus Class, The Great Recession | Tags: Lehman banruptcy annivesary, moral hazard, President Obama, Wall Street Reform Comments Off on The Bear Whisperer
Bless his little heart. He called for “common sense” rules for Wall Street. He had sharp words of warning for those who didn’t learn the lessons from Lehman Brothers and the global financial crisis. Isn’t that nice? We no longer have to “speak softly and carry a big stick”? I guess those were different times and a different president. Now, we get to speak sharply and carry a big brief case full of cash.
Just in case you missed it (or lectured through it like I did), here’s the full text of President Obama’s Wall Street Speech today.
Oh, and let me be the first to say that our President needs to take a basic finance course or maybe it’s Jon Favreau that needs it.
In fact, while there continues to be a need for government involvement to stabilize the financial system, that necessity is waning. After months in which public dollars were flowing into our financial system, we are finally beginning to see money flowing back to the taxpayers. This doesn’t mean taxpayers will escape the worst financial crisis in decades unscathed. But banks have repaid more than $70 billion, and in those cases where the government’s stake has been sold completely, taxpayers have actually earned a 17-percent return on their investment. Just a few months ago, many experts from across the ideological spectrum feared that ensuring financial stability would require even more tax dollars. Instead, we’ve been able to eliminate a $250 billion reserve included in our budget because that fear has not been realized.
Bottom line: The Banks that didn’t need the money paid it back in a hurry to avoid some one tampering with their executive pay plans. The rest that’s out there (including Citibank’s share) will probably languish for ever or pay ever so slow. POTUS can brag about a 17% return by just simply ignoring the rest of the languishing money and just paying attention to the ones that pay back. After all, Wall Street ignores their toxic assets, why can’t he? Nice to be able to select the AAA tranche of the investment and only count the return on it instead of the entire portfolio. Tsk! Tsk! Tsk!