Random Thoughts

Anyone else simply cringe when they listen to Obama speak?

1. Obama talks about reckless risk taking. Huh? I'm not sure if safe risk taking actually qualifies as risk taking.

2. Obama also mentioned in his speech that under the financial reform bill shareholders would get new powers to regulate the pay and bonuses of the CEOs and management. But couldn't they just take their money elsewhere? If they are investing their money they are investing for a reason. That has to be one of the many things an investor would take into account, whether the current management or future management structure has what it takes. If not, they take their money elsewhere, but at no point are they guaranteed to make money on the deal.

3. Obama also mentioned in his speech that the failure was all the way from Wall Street to Washington. But when does Washington ever suffer for those failures? The only answer seems to be more government to these people.

4. From #1, #2, and #3, it is clearly obvious Obama has had no real-world experience in the private sector whatsoever. Either that, or that he really wants to delude his base that he is really going to get tough on Wall Street. Of course he or other Democrats aren't going to do anything. Though Republicans get saddled with Wall Street, it is really the Democrats. Not to mention it is pretty rich when Obama attacks Goldman Sachs, since it seems to be a revolving door with them and the White House.

5. All the hoopla about the private sector failing, with talk of derivatives, credit default swaps, mortgage-backed securities, CDOs, etc, at the heart of it is the subprime mortgages (and in reality it was 4 states that make up the bulk - California, Florida, Nevada, and Arizona). And of course the subprime mortgages would not have been made had they not been pressured by the government through affordable housing and backed by government entities like Fannie Mae and Freddie Mac.

6. Obama keeps ripping Wall Street, but in reality he is simply practicing crony capitalism. Rip Wall Street, threaten them with financial reform, and then ask them to help clean up the mess they supposedly created (and if you don't, get ready for Obama and Geithner to find a way to take over your business).

7. You want to see real greed? Check out a rally for "teachers" (more like teachers' unions) in Chicago.

8. As mentioned on Rush Limbaugh, all our foreign aid in Haiti is doing a number of things, among them making it so that Haitian farmers cannot sell their crops. People aren't going to pay money when we are simply giving it to them. Also, people not even affected by the earthquake are joining the camps just so they can get free food and health care.

9. A funny (and possibly true) post about that liberals don't listen to Rush because they disagree with him, they don't listen because they're afraid Rush might convince them that he is right. (Traffic must be jammed on the original site, but if you can get there the full read is worth it).