Accomplishments of President Obama

[tw]

Originally Posted by sugarpop

I have quite a few beefs with Obama, the biggest of which is, he didn't tackle regulation of banks etc., when he had a chance to get some REAL REFORM passed.

We still do not know, yet, how perverted the system is. We still need standards even for the accounting industry that has been so complicit in this corruption – that is not yet being identified. Where and how widespread is the subversion? Banking reform is scheduled for next year. It will be long and complicated, in part, because the finance industry corruption - obvious back in the 1990s with LTCM - is embedded in most every new law since then. The corruption is that widespread. And many are so stupid as to think bankers, stockbrokerages, hedge funds, etc need the 'best and the brightest'.

If those people are so good, then we want them in industries that actually make something. IOW expensive tellers should not reap multilple six and seven figure numbers for doing nothing productive – for only moving money. Unfortunately, we will see many so corrupt as to think, for example, a stock broker deserves a six figure salary. We have yet to address a reality. If you think health care has been a problem, wait to you see how ‘Limbaugh spin’ makes financial reform into a fiasco.

The lesser students I graduated with were also making $millions in finance companies. One bragged one day how me make and lost multiple $milllions about three years out of college. No problem. He reaped it back again. Salesmanship - not innovation and the advancement of mankind - is more important.

We have discussed that reality here often – with appropriate venom. And so many so believed the lies as to also believe the myths about mutual funds.

You want reform? Next year we will see how brainwashed so many can become. Did you notice many who even thought a new GM car was a good thing? How many decades were facts posted in the Cellar – and so many just denied it. Wait to you see the propaganda and public support for the finance industry - especially from the political extremist (in both parties) that are bought and paid for by Goldman Sachs, AIG, et al. That issue is too complex for this year. Ongoing behind the scenes are studies necessary before we can even begin to address a routinely corrupt finance industry. Only then will Congress be ready to consider necessary changes such as derivatives in open and regulated markets.