Question by Obama 2012 (NeoCons wet dream): Isn't if funny watching Obama pretend that Wall Street doesn't own his administration? He also seems upset that banks are still lobbying congress despite getting bailed out. But isn't the congress filled with Democrats who are writing loop-holed filled "reform" as we speak?? The same "reform" Obama is pretending the banks are completely against?? (Didn't the banks basically write the "reform"??) http://news.yahoo.com/s/ap/20091214/ap_on_bi_ge/us_obama_banks "I did not run for office to be helping out a bunch of fat cat bankers on Wall Street," Obama told CBS's "60 Minutes." Obama's Big Sellout http://www.rollingstone.com/politics/story/31234647/obamas_big_sellout/print What's taken place in the year since Obama won the presidency has turned out to be one of the most dramatic political about-faces in our history. Elected in the midst of a crushing economic crisis brought on by a decade of orgiastic deregulation and unchecked greed, Obama had a clear mandate to rein in Wall Street and remake the entire structure of the American economy. What he did instead was ship even his most marginally progressive campaign advisers off to various bureaucratic Siberias, while packing the key economic positions in his White House with the very people who caused the crisis in the first place. This new team of bubble-fattened ex-bankers and laissez-faire intellectuals then proceeded to sell us all out, instituting a massive, trickle-up bailout and systematically gutting regulatory reform from the inside. Financial Reform Moves Forward, With Many Loopholes http://www.huffingtonpost.com/2009/12/10/financial-reform-moves-fo_n_387745.html As Congress inches toward restructuring U.S. financial regulation, lawmakers in the House and Senate have characterized their respective bills as sweeping and historic. But proposals focused on consumer protection, privately-negotiated derivatives and credit rating agencies still allow broad exemptions for key players in the financial system. The Huffington Post Investigative Fund reviewed both reform packages and assembled a chart that compares the bills--and their loopholes. Obama's Wall Street cabinet http://www.wsws.org/articles/2009/apr2009/pers-a06.shtml A series of articles published over the weekend, based on financial disclosure reports released by the Obama administration last Friday concerning top White House officials, documents the extent to which the administration, in both its personnel and policies, is a political instrument of Wall Street. Policies that are extraordinarily favorable to the financial elite that were put in place over the past month by the Obama administration have fed a surge in share values on Wall Street. These include the scheme to use hundreds of billions of dollars in public funds to pay hedge funds to buy up the banks’ toxic assets at inflated prices, the Auto Task Force’s rejection of the recovery plans of Chrysler and General Motors and its demand for even more brutal layoffs, wage cuts and attacks on workers’ health benefits and pensions, and the decision by the Financial Accounting Standards Board (FASB) to weaken “mark-to-market†accounting rules and permit banks to inflate the value of their toxic assets. neocon........"But honestly, how is that any different from any of the other previous Presidents?" It's not, that would be the point. sean............"so far his attempt to be smart makes him look ignorant." lol.........That's fairly accurate. Best answer for Isn't if funny watching Obama pretend that Wall Street doesn't own his administration?:
Answer by JR
0bama is a fraud. All sane people with triple-digit IQs realize this.
Answer by #9
To be honest, I think Obama doesn't care as long as he is in office. (ps JR just because you have an iq of 100 doesn't make you genius :P)
Answer by Obama's Nobel Peace Prize :)
aren't you funny .. lmaoooooooooooo this is called rant?
Answer by RU486.eatagun
First thing he did, was say he was going to raise taxes and implement more governmental control. Thereby effectively crashing an already unstable market. Now he wants to print more money and devalue our currency and cost more jobs....this guy working for our enemies, or what?
Answer by neocon idiot
Not necessarily pretend as much as sell the argument to the public, that Wall Street doesn't. But honestly, how is that any different from any of the other previous Presidents?
Answer by JohnN
The banks would have to be against the reform. There is no way Wall Street wants any financial reform.
Answer by trippsmith20
Whats more comical is watching him try in vain to now blame unemployment on banks. His stimulus plan didnt work and neither did his jobs summit. Back to the blame game.
Answer by Demsmierda
Obama is putting on a "show". Those Wall Street Bankers donated millions to His campaign. They are in bed together.
Answer by Sean
Obama isn't very bright. We've been watching him reward Wall Street for the past nine months for their involvement in the recession, now he acts as if they're bad. If he's going to pull the wool over the peoples eyes he needs to smarting up in a hurry, so far his attempt to be smart makes him look ignorant.
Answer by Mister2-15-2
On issue you are discussing feel president Obama is very naive. Those banks did not go through trouble of getting monopolies so they would lend to credit affluent They seem to only lend to a chosen few regardless of their credit, so if recent history is guide then true credit worthiness might be an impediment. it seems so a*s backwards, but thats one of the perks of having Republican congress and Clinton piece of S president.
Answer by mlee
I'm not pretending to know how it's all going to work out, but I don't think it's funny. It wasn't funny when it was Bush & Co and we're still in his Oil War. For the People, By the People has got along way to go to reach ground zero. Corporate America has been running the show for years and it's not been to our country's benefit regardless of what political persuasion your hailing. You must be over the age limit to have not been affected by the No Child Left Behind effort which continued and dismally failed. What will we do when these complicated issues are left in the next generation's poorly educated hands? Who will write our next Rolling Stone issues so we know where we stand as citizens?
Patric de Gentile-Williams joined FRM Capital Advisors Ltd. (FCA) in August 2007 as Chief Operating Officer to focus on assisting new managers in establishing their businesses. FCA has seeded the following five managers: Victory Park Capital (asset-based-lending), Beechbrook Capital (loan/credit), firm JD Capital Management (volatility-arbitrage), WestSpring Advisors (credit ) and Isometric Capital Management (Asian equity) with an average amount of m. In this Opalesque.TV interview, de Gentile-Williams speaks about the enormous and exciting opportunities in the hedge fund seeding arena, how his firm identifies talent, the typical deal structure and advantages of working with an institutional seeding company. FCA aims to seed four to six managers per year, deploying a total capital of up to bn. FCA is the dedicated alternative investment seeding business of the FRM Group, a large institutionally focused fund of hedge funds group managing approximately USD8.5 billion (Dez. 2009) with clients in Japan, Continental Europe, the UK, Asia, Australia, North America and the Middle East. Previously, Patric was Chief Executive Officer of PCE Investors Ltd, a European based Hedge Fund Platform. As founder of the business, Patric was responsible for business strategy, manager assessment and selection as well as risk management. From Launch in Jan 2004, PCE grew to bn AUM spread across 16 Hedge Funds.
http://leafgardenpress.com/ Patric de Gentile-Williams (FCA): Hedge Fund Seeder's enormous opportunities (Part 2) - Opalesque.TV
Hedge funds are likely to be the winners from new rules that will drive business away from established investment banks towards businesses not covered by the regulations, according to the Telegraph. Non-banks, which include hedge funds, private equity firms and pension funds, are likely to pick up an increasing share of financing services once provided exclusively by the big banks. The forecast comes in a report by US investment bank Morgan Stanley and consultancy Oliver Wyman, which predicts tough times ahead for the City.
Wealthy investors are showing a healthy appetite these days for newly minted hedge fund managers, judging by the activity in one Blackstone Group managed portfolio, says Reuters. In about four months, hundreds of individual investors sank some $ 355m into a so-called hedge fund seeder set up by the New York-based investment firm, a recent regulatory filing shows.
Chicago-based Northern Trust has agreed to buy hedge fund manager Citadel's fund administration business, Omnium, a person familiar with the situation said Thursday, the Wall Street Journal reports. The value of the deal was not known. Both Northern Trust and Citadel declined to comment. The acquisition is part of the consolidation of the fund administration industry, as hedge funds increasingly turn to institutional investors for capital.
Some of the world's largest hedge funds and private equity groups have held talks with Spain's troubled savings banks as they rush to secure €15bn ($ 21.3bn) in new capital to avoid a state bail-out, reveals the FT. Funds including Paulson & Co and the buy-out groups Cerberus and Apax have held meetings in recent months with several Spanish savings banks to discuss possible investment. "At the moment, Spain is crawling with hedge fund and private equity people," said a senior executive at a large savings bank, which are known as cajas.
Investors are still pouring money into China-focused hedge funds despite laggard performance amid a tightening economic environment, says the Wall Street Journal. According to reports, China funds added $ 3.5bn in assets in 2010 to a total $ 18.68bn, even as their 6.11% gains were short of the global industry average of 10.55%. "The country's equity markets have reacted negatively as the Chinese government's concerns about inflation become clear, evidenced by recent increases in interest rates, reduced growth forecasts in its 5-year plan and an increase in reserve requirements in January," it said.
A Connecticut hedge fund and its manager were sued by the Securities and Exchange Commission for disgorgement of gains made while sending hundreds of millions of investors' dollars to fraud scheme operator Thomas Petters, reports Bloomberg. The SEC complaint was filed today against Marlon Quan and his Greenwich, Connecticut-based Acorn Capital Group. The complaint also names as a defendant Stewardship Investment Advisors, another firm controlled by Quan.
Hedge funds are likely to be the winners from new rules that will drive business away from established investment banks towards businesses not covered by the regulations, according to the Telegraph. More Regulation win for hedge funds over banks Issues
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