From the New York Post:
For all of President Obama’s rhetoric about “fat cat” investment bankers who gambled the country into economic decay, he sure seems to have a larger soft spot for big Wall Street than for average Americans.
After all, his latest push to “remedy” 9.8 percent unemployment for the masses is an extension of unemployment benefits. Meanwhile, his policies aren’t just making Wall Streeters rich, as bonuses are expected to hit record highs this year. They’re also likely (according to some insiders) to spark a hiring spree among bankers in the new year…
I don’t know if all that new hiring will come about in 2011 – things teeter on the edge of a financial abyss and if we tip in to it, that’s all she wrote. But there is no doubt that the banksters have done well in 2010 – what with Treasury and Fed shoveling money through the financial system and taking bad assets of the banks’ hands, they’ve had a banner year. And indicators are that not only are they are cashing out their stocks in record amounts but, presumptively, putting all that money we gave them in to bonds (so, Americans, the money we gave them is being lent by them back to us…so we can pay interest on the money we handed out. Cool, huh?).
I don’t blame Obama for this except in the sense that he put himself forward as a Presidential candidate in 2008 even though he lacked any sort of political or real world experience which would allow him to judge properly when people were trying to rip America off. Re-appointing Bernanke after he had already looted us for trillions just shows that Obama doesn’t know what he’s doing.
We can hope he’ll wise up, but I doubt it – the Ruling Class, of which Obama is head, has closed ranks….they are determined to help themselves, people get stuffed. We’ll see how long it takes before the piper demands payment.
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