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Today's Nuze

"When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it."

Frederic Bastiat

IS 'GREEDY' WALL STREET BACK?

By
Neal Boortz
@ September 14, 2009 8:22 AM Permalink | Comments (11) | TrackBacks (0)

If it is back, it won't be for long. Today Obama is going to give a speech on Wall Street. Literally. Obama on Wall Street. Wonderful. That's like sending a child molester to a day care center. Obama will be speaking just steps from the New York Stock Exchange, "[stressing] that regulators and legislators not only in the US, but around the world, need to take the next steps to tighten financial regulation."

Ten days from now, the G20 summit will work on their plans to curtain banking bonuses, as well as other means to regulate the global financial system.

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What others are saying

  • Greed on Wall Street
    Greed:
    The Act of restraining, or desire to restrain another person's liberty or opportunity in order to satisfy an aquisitorial instinct.
    Now, when Neal asks his smug little question about the definition of greed, you guys will have the answer!
    By Chris Bogardus @ 09/14/09 07:52:13 PMreport abuse
  • Poor choice of words
    More like leaving him alone with his niece.
    By Andrew @ 09/14/09 11:42:32 AMreport abuse
  • Think for a moment
    I don't know how many folks here actually trade stocks/options. I do both. And I know there are A LOT of traders out there that like the idea of more regulation. Especially for naked shorting and manipulation of stocks.

    That being said, more regulation only means it's more difficult for hedge funds. Regular mutual funds or stock funds will enjoy knowing that excessive, illegal shorting won't occur which in turns, helps stock prices.

    I'm not saying this will be the case. I'm just saying there's a lot of money on the side that won't take up long positions for the long term because of illegal practices that take place daily.

    Who knows? Maybe more regulation (or better, more oversight) will encourage more money to get into the market for the LONG term rather than day or week trades.
    By Samael @ 09/14/09 10:46:38 AMreport abuse
  • Uhh...
    Obama picked most of his cabinet from Wall Street. The very same folks who CAUSED this economic disaster work for HIM. Do not think for one second all this was an accident. It was a scheme designed to loot our country and destroy the economy.
    By Ivan @ 09/14/09 10:21:14 AMreport abuse
  • BO on Wall Street
    Child molester at a day care center.
    That's a good one! I'm stealing it.
    By Bill Atl @ 09/14/09 09:51:43 AMreport abuse
  • Obama On Wall Street
    He's probably just going up there to give Wall Street a pep talk, and to share some insight and accomplishments from his life as a businessman. Should take about 5 seconds.
    By Randy @ 09/14/09 09:31:37 AMreport abuse
  • President on Wall Street
    You mean the President of a mega-country is going to speak at the heart of its economy. Who ever heard? I guess republicans would rather the president be sitting on a ranch in Texas rather than speaking to Americans
    By Lane Meyer @ 09/14/09 09:10:24 AMreport abuse
  • Hypocrites, what about their patron soros?
    Isn't he the poster child of all they claim to abhor about Wall St.?

    Funny how often that happens, whether it's the 80's S&L failures, enron, global crossing, or the latest corruption-caused financial crisis, the dp is neck deep in it.

    Am I supposed to believe that their idea of tightening financial regulations will fix anything other than their ability to loot and game it better?
    By CowboyUp @ 09/14/09 09:01:44 AMreport abuse
  • I hope the world
    Tells him to mind his own business.
    By Joyce M/Blythe @ 09/14/09 08:52:05 AMreport abuse
  • Greed is good...
    ...until Wall Street has to be bailed out by TAXPAYERS. I have no problem with a firm giving $100 million bonuses so long as the firm does not receive a penny of welfare from us TAXPAYERS!
    By Michael @ 09/14/09 08:50:56 AMreport abuse
  • you got it wrong
    the people of the US are the kids in the day care center. our teachers are the wall street tycoons. the tycoons are also the child molesters. obama is some social worker come to see how the children are doing, but he don't care. he's just here to take the payoffs from the tycoons, so to let them molest us again.
    By tshirt-doctor.com @ 09/14/09 08:48:59 AMreport abuse
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