Obama’s fight with Wall Street

Liberalman

Senate Member
Mar 18, 2007
5,623
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Toronto
Obama’s fight with Wall Street

http://www.whitehouse.gov/the-press-office/remarks-president-wall-street-reform

American president Obama’s speech basically said it all that the party at Wall Street is over and it’s time to pay the piper.

Obama wants to finally protect the investor by punishing the investment houses and the brokers that time after time brings America to the brink of financial ruin where regular people lose their life savings while they get off scott free.

The ultimatum has been issued to the business sector including the big financial institutions “NO MORE TAXPAYER MONEY”.

A new program will come into effect that will protect the investor like they have in the banks, for the first time investors will be insured for loss at the same time the investment houses and the brokers will lose their shirts and get nothing.

It’s a noble cause but it will fail because investing is a gamble in the long run.

What are next the casinos?

The investment industry might just move overseas and Wall Street will be a historical site where tourists are shown what happens when a government meddles.

The rule was that you only invested the money you were willing to lose and if you make money your ahead of the game.

It’s like the lottery where you pay a small amount of money to get a larger amount of money.

Will Obama’s strategy work?

We will have to wait till the next election to find out.
 

Slim Chance

Electoral Member
Nov 26, 2009
475
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I wonder how this legislation will affect start-up ventures that are all (basically) high risk?
 

Highball

Council Member
Jan 28, 2010
1,170
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The story just broke this afternoon that some of the SEC supposed watchdogs were busy viewing porno flicks on their government owned computers rather than doing the checks they were supposed to be doing daily while on work time. If that is confirmed I'll bet we hear more about it soon. Maybe they were figuratively speaking screwing around while the system was getting set to get screwed too?