Re: New Tea Party?

Oh yeah, i saw that last nite on the MSNBC. Let's see, these are the guys who manipulated the stock market to the point that it collapsed in the first place, right? Impeccable credentials. :S

Jim Babcock said:

I see. The stock market collapsed because of manipulation? The housing market crash, the auto industry crash, and the price of oil had nothing to do with it? Everyone is selling their stock because they have confidence in Obama and his policies? Every time someone in his Administration speaks the market tanks even further. How can you blame that on Bush, those on Wall Street or anyone other than Obama and his multi-trillion spending policies? I would love to hear someone try to explain that.

The fact that those on Wall Street are fed up with Obama and his policies and are talking about a Chicago Tea Party to rebel says quite a bit. These same people were the ones who during the Clinton years in the 90's were well respected when they pushed the markets to astronomical levels and then when the market crash, the left blamed the crash on Bush. Now that the market is not happy with Obama, you do not blame the President and his Administration, instead you are blaming those on Wall Street?

Unless you have answers to some of the basic questions, please spare us more personal attacks and name calling.

Personal attacks? Name calling? Come on Jim. I criticized Wall Street. Where's the "personal attack". Get real.

As to the specifics, yes Wall Street manipulators are their own worst enemies. Madoff is just the latest and most visible. There are literally hundreds of traders who work only for themselves, not for their clients. You certainly know that...everyone else does.

And so what if these guys don't agree with new policies? It was the old policies that allowed collapse of the system. And obviously, these guys weren't Obama's supporters in the first place. I can't see how their opinions are even relevant. they are worried about only themselves.

And manipulations? Yes, they've destroyed the system. REIT's which gobbled up the balloon mortgages, banks getting involved in the stock market, rather than conservative investment vehicles, and the constant pressure to lower tax rates on investment income have all put the market into shakey territory. I often wonder why the market transformed from an area where investors bought equities based upon a company's liklihood of declaring a dividend, to investment based upon the liklihood that a stock price would rise from quarter to quarter and yield a quick windfall. What ever happened to "hard work" in the ethics of those making such investments? IMO, these guys are merely the flip side of the coin from welfare recipients. They milk the system, with government help (in the form of low captial gains tax rates).