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NY Financiers in Charge of Obama Economic Policy

by Phantom Ace ( 5 Comments › )
Filed under Barack Obama, Economy at May 1st, 2009 - 8:19 am

The same clowns that brought us Globalization, Outsourcing and Bad Mortgage Loans are the ones running the Obama White House Policy. These Financiers and Bankers are in cahoots with the Left because they also believe in ending America’s Independence. They believe in a Global economy since they benefit from it.

Obama’s 100 Days: Wall Street Crowd Makes His Administration Like Grant’s

If anything, the financiers are more solidly in charge now than they were during George W. Bush’s presidency, when the New York Times declared that “Government Sachs” was a reality. Today, such figures as Timothy Geithner, Lawrence Summers, and Steven Rattner are accelerating the Bush era’s finance-favorable policies, piling bailout on top of bailout. Even nonfinancial policies are being drafted to serve Wall Street; the “cap-and-trade” greenhouse gas proposal, for example, would do more to boost the bottom line of neo-Enronesque pollution mongers than to reduce carbon dioxide.

How did this happen? As economist Simon Johnson observed recently, “A whole generation of policymakers has been mesmerized by Wall Street.” And now Obama seems similarly ensorcelled. Johnson, a former chief economist for the International Monetary Fund, writes in the Atlantic that America is descending into the financial vortex that Russia, Argentina, and Thailand plummeted into back in the ’90s. How so? The same insiders and self-dealers who created the crisis “are now using their influence to prevent precisely the sorts of reforms that are needed.” And yet, he adds, “The government seems helpless, or unwilling, to act against them.” That “quiet coup,” Johnson warns, could turn America into a “banana republic.”

I have to disclose, I work for a financial institution. I know the mentality and their attitude is to keep wages low so they can reap big bonuses. Many of the bailed out companies are still off-shoring jobs overseas and using the bail out money to create jobs in China and India. It was this mentality in Corporate America which turned me off to Economic Conservatism. Why cut their taxes when they will get rid of American jobs?

These Financiers are not loyal to America. Like the Left they think in Global terms and are selling this nation out.  Conservatives need to wake up and realize Wall Street isn’t our friend. I know many will debate me out of principle, I respect that. I am just trying to wake the Right up to the fact, That Wall Street isn’t on our side and these people are traitors to America. I want an economic policy that benefits all Americans and the nation. Not one that helps out India, China and Democrats on Wall Street.

Here’s my theory, I believe, that Wall Street likes this situation. They like an economic system where they can pay low wages and give themselves big bonuses. The Progressive Left likes this also since people out of anger will vote for them. Then since people can’t get by or improve their economic conditions, they will become dependent on government. Hence they will vote for Democrats. It is a win-win situation, Wall Street keeps wages low and the Democrats have people depend on government. Let us debate my theory and all opinions welcomed.