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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

OBAMA PANDERS TO THE WEALTH ENVY CROWD

By
Neal Boortz
@ January 15, 2010 9:32 AM
Permalink | Comments (47) | TrackBacks (0)

Yesterday I told you about Obama's new tax on financial institutions that took TARP money. Let's get one thing straight ... Obama continues to refer to this as a "fee." This is just a fancy was of saying "tax." We are taxing the very institutions that we want increase loans and stimulate our economy. But Obama insists that "We want our money and we're going to get it back." But wait? Haven't these banks and financial institutions already paid that money back? Well .. what does that matter.

He is just playing into wealth envy, folks. Pure and simple. I would sure like to see Obama answer a few questions ..... like why he doesn't plan to limit executive compensation at institutions like Fannie Mae and Freddie Mac, which took $100 million in taxpayer money, never intend to pay it back and are in fact still losing money for the taxpayers.

Republican Rep. Jeb Hensarling of Texas gets to the point: "To think that banks will loan more money if you tax them is beyond economic ignorance." That's because this tax has nothing to do with economics and everything to do with wealth envy and politics. Easy as that.

But the banks aren't going to go down without a fight. They argue that Obama's next tax is going to cost the economy as much as $1 trillion in lost lending. A financial industry leader explains, "The money to be collected is capital being pulled out of the banking system that could support ten times the amount in new lending ... That's because $1 in capital supports $10 or more in lending. So the tax will pull not $90 billion in lending capacity out of the banking system, but $1 trillion in potential lending."

Know this. Obama is anti-capitalist to his core. He does not now and never has liked free enterprise. Capitalism is "the enemy" to Barack Obama. He is dedicated to the destruction of America's free market economy ... to be replaced by a centrally planned and government-controlled economy. If he isn't stopped your way of live will be all but destroyed. He's gone past being an inexperienced joke.



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What others are saying

  • yes, it is truly amazing
    $10,000 bonus some CEO gets? i like how you did your homework.

    "JPMorgan Chase & Co., the second- largest U.S. bank, set aside $9.3 billion for compensation and benefits for investment-bank employees in 2009, enough to pay each worker in that unit $378,600."

    that's there ordinary worker bonuses, i think the CEO got a few bucks extra.
  • Don't classify me with Moderate Man
    I am not, nor have ever been "moderate". Reference any of my previous posts to see. I cannot stand Obama, nor his cronies and think he has sent the US on a path to destruction. What I merely stated was the by saying Obama wants to destroy the country, you turn people off. It is not because they may disagree with you, but because they know Obama doesn't desire America to be destroyed. Obama may wish to change America (albeit fundamentaly) so that it doesn't resemble what I (and so many others love). However, to him that is not destroying the US, instead it is improving it (misguided as it sounds). When you yell that Obama wants to destroy the US, people infer (speakers imply, listeners infer) different meanings. So while you may be implying a message, i.e. "After Odumbo is done, the US will cease to exist as you know it", others hear "After Odumbo is done, all US citizens will be dead or slaves of another country." These are two very different meanings, and two very different images. When people infer the extreme, they recognize it as rhetoric and stop listening/shut down.

    As for me upset with the left regarding their rhetoric. Son, you have no idea what i get upset over. When you use claims such as "NEVER" you only display your ignorance. Someone else feels that way as well... I wonder who it could be... oh yea, NEAL! I suggest you strip from your vocabulary words such as "always" "never" and "every time". Time to remove assumptions about someone, and learn to critically think about the point someone is making.
  • Truly Amazing
    Joyce,

    Is it just me, but don't you find it amazing how so many people are so quick in blaming a corporation for something bad that has happened, but are absolutely oblivious to the role govt plays. They never find blame in them. Yet, they have absolute disgust over the corporation.

    Take Enron for example. People were so worked up in outrage that they were on the verge of killing Ken Lay. All for what? a fraud, a scam that cost investors a loss of maybe $8billion????

    Yet, here we have govt losing hundreds of billions in bailouts, $37 trillion in Medicare liability, etc. No outrage from the se people. Instead, they get mad at the $10,000 bonus some CEO gets.

    The liberal propaganda machine has sure done his job well in absolutely brainwashing these people.
  • Say hello to mah leetle fren'!
    I can't believe I'm sticking up for banks but, hey, you pro-big govenment types ever hear of slaying the goose that layed the golden egg? Admonish CEO's for not running a tight ship, question some of their practices and treatment of customers but make them pay a tax as punishment? I'm sorry I can't recall seeing that in the Constitution. I'm waiting for a real life John Galt to step up and say, "Mr. President, in 3 years, you'll be the answer to a trivia question and I'll be on my boat in Bermuda...you really want a pi$$ing match?"
  • RDH you are mad at the wrong people
    Sorry Neal...
    This is not Obama pandering to the wealth envy crowd. This is Obama taking advantage for the crowd that wants revenge on the Banks that have screwed them personally and screwed the U.S. Taxpayer as a whole. I lost my job because these aholes threw our economy into the sewer, and are now paying themselves handsomely for it. This isn't about wealth envy, this is about revenge.
    By rdh

    You should be mad at Barney Frank, Chris Dodd and all the others in Washington that forced these banks into making bad loans. THAT is what caused our economy to collapse. Government interference in regular business and no regulation in Freddie/Fannie.
  • @Moderate man
    > did vote for Obama...but the deal was clinched when McCain put politics before country . I was also quite alienated by the conservative whispering campaign that Obama was a Muslim (and by the way, so what if he were) and some of the thinly veiled racism<

    Thanks for making my point. Your true convictions are so weak that you decided to do a 180 on those convictions all because of a "so-called whispering campaign about Bozo being a Muzzie." First off, the McCain campaign was so pathetic and hands off that they were even afraid to bring up the lunatic reverend and the domestic terrorist Ayers, so I have no idea where you are getting this "muslim" campaign from. It was never an issue.

    You say you believe in conservative fiscal responsibility and don't like unions or lawyers or big gov't at all. Those are core beliefs that serve as a foundation for anyone's political leanings. YET, you were willing to throw that entire foundation of core beliefs down the drain because of some far off rumor about him being a Muzzie???? That is all it took for you to do a 180 on your core values?? That is all it took for you to vote for the biggest leftist candidate in the history of this country? A completely uncaccomplished, unqualified, community organizer with a history of the absolute most radical associates one could imagine?? That is where your logic is insane. A stupid rumor (that even wasn't started by campaign) was more important to you than the actual issues and core values you supposedly have.

    That is the equivalent of a supposed life long Christian, whose core values are centered around his Christian beliefs, decides to change his entire core belief system and join a Satanist cult just because he heard a rumor that one baptist said something mean about a non-believer.

    The sad thing is that each election hinges on spineless lost moderates like you. Even sadder, these moderates are viewed as intellectuals!! You know the ones, who a week before the election are asked by a reporter who they intend on voting for and they say, "Well, you know (portraying a very intellectual and thoughful pose) I am still weighing the candidates and analyzing the issues." Some genius, you moderates are. At least the libtards believe in something, albeit it is absolute bankrupt illogical and dangerous dogma,at least they take a stand.

    One final point to display your stupidity. It's amazing how you moderates NEVER ever get outraged by the rhetoric from the left. Huh? Some of the most vile hateful rhetoric comes from the left, especially these last 8 years, from calling our military killers and terrorists, etc., and yet you give them a mulligan. Meanwhile, a conservative says something 1/50th as extreme as the average liberal diatribe, and you are willing to completely change your vote and overhaul your entire belief system. You are a fool.
  • @Moderate Man
    The fact that you publicly admit that you voted for Obama indicates you're an idiot--there's just no way to sugar-coat that. Please go back to Daily Kos where you belong.
    Goodbye.
  • @Tre and Moderate Man
    I understanding where you coming from on Neil's Rhetoric but to say that Moderates would be scare and not vote for a Conservatives or Republican because of that is one of the main problem with our electorate. I don't agree with some of the words Neil uses but thankfully I am blessed with the gift of reason and analysis. I know how to differentiate reality from his over the top words. Frankly, I have no problem with his over the top rhetoric that some may use to think we (the right or conservatives) are crazy because somebody got to do it since I and most conservatives do not use those kinds of words.

    If a moderate or an independent does not vote for a conservative or republican because of rhetoric such as the one Neil uses than that person is what is wrong with our electorate system which is voting on feelings and emotions instead of the facts and what is best for our country in the long run.
  • Call this the Geithner covering his a#@ tax
    I keep having to ask, just where is the Constitutional Authority for the PRESIDENT to place FEEs on Private Corporations?

    They are not even trying to pass this off as a Tax…

    And hmmmm… would this not be punishing them… and thus be a bill of Attainder even if passed by Congress?

    If this passes, it's time for the revolution to begin.
  • Sorry Neal...
    This is not Obama pandering to the wealth envy crowd. This is Obama taking advantage for the crowd that wants revenge on the Banks that have screwed them personally and screwed the U.S. Taxpayer as a whole. I lost my job because these aholes threw our economy into the sewer, and are now paying themselves handsomely for it. This isn't about wealth envy, this is about revenge.
  • we're not capitalist
    we're neo-mercantilist. mercantilists believed in business/government synergy. except that the old time mercantilists favored exports where today's mercantilists favors imports.
  • Pandering
    Proof that he is anti-capitalistic at his very core is the fact that he has never run a business that operates for a profit. Therefore, how can he grasp the simple concepts of lending power and future lending by the banks?
  • By tshirt-doctor.com @ 01/15/10 11:54:55 AM
    Go pound sand!!!!!!!!
  • In answer to 'Tre
    >>>


    Whether Obama destroys this country by design or through ignorance, the result will be the same.
  • oh, them poor Wall Street bankers
    Major U.S. banks and securities firms are on pace to pay their people about $145 billion for 2009, a record sum that indicates how compensation is climbing despite fury over Wall Street's pay culture.

    An analysis by The Wall Street Journal shows that executives, traders, investment bankers, money managers and others at 38 top financial companies can expect to earn nearly 18% more than they did in 2008—and slightly more than in the record year of 2007.

    while at Main Street, where average earnings increased 2.2 percent in 2009 -- and that number excludes the 7 million jobs lost since the recession began.
  • re:club a liberal..just look what we can get for our $100mil "investment"in Haiti...
    ...a life time supply of bobbleheaded voodo dolls,custom made in the image of your favorite enemy...an antique 500lb.cursed cast iron pig to be displayed in the feeding trough of congress(all must kneel&kiss the pork)...a new home there for the U.N.,complete with tin walls & thatched roof.some assembly required(air conditioning,electricity and indoor plumbing not included)....the control of Haiti's vast army of machette welding undead zombies...free interorgation method training from Haiti's elite prison personel(bring your own tire)...a promise not to advance their nuclear weapons program,which currently has collected over 200lbs. of radium from old watch faces left by the French....and lastly, 2 million highly un-trained or skilled immigrants to take"jobs american just won't do" and vote democrat.If we act now they might turn over their navy(5 rafts made from bleach bottles) and airforce(you really don't wanna know but lets just say it involves kites,fireworks&scrap tin cans)
  • booger, what if the man is a vegetarian? :O)
    That's what the garden is for Doc
  • Laughing
    didn't i say "after the revolution over"? do you you how to read?

    booger, what if the man is a vegetarian? :O)

    you have to be prepared for all sorts of things. by not going with money is not being prepared for anything. i would buy lead 99% of the time and buy silver 1% of the time.
  • "We Want Our Money Back!"
    ...proclaimed our president. I wonder if he will be equally insistant about putting a surcharge on the union infested auto companies that took bailout money.
  • tax tax tax
    all ya want..the bottom line is there will never be any return to the people period..it will be going to politicians and government lawyers..ya know those same type of lawyers like al gore making tons of cash on the global climate change gimmick by way of carbon credits..want to invest in something set up one of these ficticious polluting companies and sell youre unused carbon credits to a corporation like ge.
  • without needing to kill people for what you want.
    The guns and ammo are for shooting game and protecting my property when the dregs come to steal out of my garden. I think a nice wild turkey or venison roast will be a better bargaining chip than silver. If I was to invest it any precious metal it would be lead.
  • Ha ha – Hey! It looks like people are starting to pay attention to what Obowmao and the rest of the National Socialists want to do to this country.
    If we've got “Concern trolls” out and about whining about talk like this, the concept has to be starting to sink in with people.

    As others have said, you concern trolls have to educate yourself on the whole Cloward-Piven and Saul “Lewinsky” strategies.

    You also need to educate yourself on the Trillion dollar “Stimulus”, the exploding national debt and the disingenuous shell game National Socialists like Harry Reid are pulling on healthcare.
    Did you concern trolls hear about all that? It was in the all papers.

    Did you hear about Social securities upcoming bankruptcy?

    Did you hear about the Obamacare monstrosity that will also overburden the economy?

    Did you hear that the national socialists want to do another stimulus?

    Who knows what else the Statists have planned to bankrupt the country.
  • Buy gold and silver???
    Don't jest yourself.
    When the revolution is in full swing, only your survival skills and mad dog mean tactics will ensure you make it through.
    Go ahead put back lots of worthless money.
  • Response to "Club"
    I will respond to your questions but will strike a more civil and subdued and respectful tone than you, my friend.

    I don't have a formal definition ofmoderate other than to say that moderates find themselves aligning with conservatives on some issues and liberals on others. They recognize that important matters of public policy and foreign affairs are complex. They consider a candidate's background and positions more so than a candidate's party affiliation.

    Speaking for myself, I would say I align with what may be termed "the liberal position" on many of the cultural issues like gay marriage, reproductive freedom, and end of life choice (e.g., Terry Schiavo) . . though on the other hand I am not for marijuana legalization.

    I would say I align myself with the conservative side on issues of fiscal responsibility and the need to hold citizens responsible for the choices they make in life. I would also say I am conservative in my general attitude against labor unions, especially public employee unions. I also can't stand trial lawyers, and accordingly have never liked John Edwards.

    I would say I am progressive in terms of embracing science and technology, and I have little use for bible thumpers who reject the tenets of modern science and modern medicine.

    In terms of foreign policy, I would say I am an "America First" kind of person, whcih is neither a liberal nor a conservative position. I reject the idea that America has to spend billions of dollars and sacrifice the blood of its own people to clean up messes all over the world, and in the process making enemies and intensifying anti-American animosity.

    I did vote for Obama. I was leaning towards him as the summer of 2008 unfolded, but the deal was clinched when McCain put politics before country by appointing an absolutely unqualified bumbling intellectual midget on the ticket (please don't try the tired lame argument that Palin was more qualified than Obama). I was also quite alienated by the conservative whispering campaign that Obama was a Muslim (and by the way, so what if he were) and some of the thinly veiled racism.

    Had McCain picked Mitt Romney, a competent, accomplished leader with experience in both the private and public sector, I may have come over to McCain.

    So you add all that together, what would you prefer I call myself? Do you put me in your category (a) or (b) (a false dichotomy if I ever heard one)? Am I supposed to adopt every Rush Limbaugh position on every issue, or be damned?
  • booger
    you ought buy some silver too. after the revolution is over you may need to purchase something without needing to kill people for what you want.
  • Yes, Freddie and Fannie should also be taxed
    Any bank or institution, public or private that received taxpayer TARP money should be taxed (including bonuses for their "talented" executives), until every penny has been paid back to the taxpayers.

    And if the banks pass on this tax as fees on my credit cards, I'll just use cash just like people used to do. And I have no problems going using my credit union for my loans, checking accounts, deposits, etc. They give you far better service, for far less fees than do the big banks.
  • Personal liberty vs. Self Fulfillment
    Our nation was founded on the principle that personal liberty was the essential nature of the human race and could only be protected by limiting government.
    The progressive movement, culminating in the current thinking of Obama, is that spiritual fulfillment, not individual liberty, is the essential nature of the human race and can only be achieved by a big, benevolent government.
    It's kind of like this. A man in prison has lost his personal liberty, but if he is spiritually fulfilled he is free in his mind. To liberals, this is the ultimate freedom.
    I guess the early Christian martyrs were liberals.
  • Only dimwits invest in the stock market
    I took my money out of the stock market 2 years ago and started buying land, guns, and ammo
  • @Moderate Man
    >>>>Yours truly, a moderate who has in the past voted R and might do again some day, is definitely not persuaded by this kind of rhetoric. It makes me think the conservative side is a bunch of crazy lunatics."<<<<<

    Moderate?? Please define. I never understood you people. Either you have certain core values or you don't. What in the hell do you believe in?? So, this rhetoric is not persuading you and offends you; however, the absolutely insane rhetoric from the left has no affect on you????

    It is obvious you voted for the Obozo. Please let us understand your thinking. It is completely illogical. The two sides could not be more opposite in their values and world view. Yet, you waver between the two sides as if you are deciding on which football team you think is going to win this weekend or what movie to go see? Do you moderates have any convictions, any beliefs that you will not waver on? I don't get it.

    You say you voted R before, yet you then go and vote for the biggest leftist to ever run for president! So, what in the hell are you basing your vote on? How can you switch from two extremes like that? That means either (a) you are a complete ignorant and uninformed fool who has been asleep and not paying attention; or (b) you have no core beliefs or value system, and it changes as the wind blows.
  • a fee here a finance charge there..
    this man was endorsed by the bilderbeger society, as was former president bill clinton.obama and hillary clinton were seen attending the last bilderbegers meeting.we are screwed..educate yourselves and the truith will surprise you
  • To Tre and Moderate Man
    The rhetoric of "Obama trying to destroy America" may seem extreme to you, but you have to really understand what is going on and the history of "progressives." I think once you understand the history, you will realize what he is in effect doing. With all due respect, you guys are missing the whole point.

    To us, Yes, he is trying to destroy the foundation of this country. Those are the straight to the point words. Now, Obama won't call it that, he doesn't it see it as "destroying America", he sees it as "transforming America", and "Fundamentally changing America". That is the key. Forget about the what phrase is used, the bottom line is that he wants to rid the country of the system it has and conduct "transformational and fundamental change." (those are his words). He thinks that is the better way.

    I beg you to educate yourselves by reading about Cloward and Piven. Understand that this idiot, from practically the day he was born, has associated with, befriended, and worked with leftists radicals throughout his life - radicals who despise the principles of this country.

    The chairman of the Appollo Alliance is Jeff Jones. Who is he? Well, he and his buddy Bill Ayers co-founded the Weather Underground. Who is the Appollo Alliance? Well, they wrote a large portion of the Stimulus Bill. Harry Reid thanks them by name for helping with the bill.

    Take a look at who the most frequent guest, by far, is to the White House. None other than Andy Stern, the leader of the thug leftist group SEIU.

    There is just so much here that I don't even know where to begin. You guys just need to educate yourselves on the history of "progressivism" and understand what we are up against here.

    Just understand this, these people do think that what they are doing is best for the country - they think that destroying our system and replacing it with their Statist system is best. That is the point you are missing.
  • @MM
    The sky IS falling for the 20% of Americans who are un or underemployed, thanks to BO and the Democrats.
  • "Dedicated to the destruction of America"
    As we speak, Obama and his staff are preparing for Phase II of their evil plan to destroy America. I heard reports that a remote volcano in Alaska is being readied to house the secret lair to which Obama and his top staff will relocate and will serve as the headquarters for this diabolical plan.

    Obama is sitting at the head of his cabinet table this morning, pressing his fingers together, with a Vaudevillian smirk, saying to his cabinet, "We have them exactly where we want them, all praise be to Marx and Allah", followed by cartoonish evil laughter all around the table.

    Yes, Neal, keep striking this tone along with all your other right-o-sphere kin, and see how well that goes over with the moderate voters you need to win elections.
  • CAG
    Yeah, that is smarty. Only dimwits invest in the stock market. HAHAHAHA. Where do you come up w/ this stuff?
  • @ Ben Dover
    You can't possibly think that Obama sits in the oval office every day thinking "How can I destroy America?"

    If you do, you're as deluded as Obama is. Listen, Obama's policies suck, and they hurt America. However, to claim that Obama KNOWS this and purposefully does this is insane. Obama is deluded. He is inexperienced. He may have ulterior motives. He does NOT however want the destruction of America.

    To claim such is irresponsible and only turns people away. Those are the same people you need listening to you. Don't use such rhetoric. Instead, stick to the facts. Obama's policies will hurt America (heck, even say they'll destroy America). But don't claim that they'll destroy America because Obama wants to destroy America.

    Hopefully you can understand the difference. If you cannot, or do not believe there is a difference, you're as bad as every tree hugging, left leaning, Marx subscribing, brain dead, illogical libtard out there.
  • Phounding Phather
    Once again, the bed wetting whiny liberal knuckle dragger posts another idiotic remark. Obama promised us that the economy would not rise above 8%. Today, it's 10% and he actually had the galled to blame Bush for his failures. Only a dimwit would judge how the country is doing by the Dow Jones Avg and not how the value of the Dollar or Job Claims are.
  • Tre
    I think you need to read some about Cloward & Piven, Saul Alinsky. The process IS to destroy this economy (capitalism) so it can be replaced with a modern day version of socialism.

    Infantile is best suited to those who do not recognize these trends.
  • obama is being anti-capitalist
    or anti-corporatist? because we haven't a capitalist economy in a long time. that's goes for free market also.
  • Irresponsible and laughable "sky is falling" rhetoric
    According to Neal Boortz, Obama is some kind of supervillain from a James Bond movie:

    "He is dedicated to the destruction of America's free market economy ... to be replaced by a centrally planned and government-controlled economy. If he isn't stopped your way of live will be all but destroyed."

    Yes, and he also eats Caucasian babies for breakfast.

    Yours truly, a moderate who has in the past voted R and might do again some day, is definitely not persuaded by this kind of rhetoric. It makes me think the conservative side is a bunch of crazy lunatics.
  • Neal,
    Ignore Tre'

    I'm glad to finally see someone calling a spade a spade.

    Obama and his entire administration are a bunch of Marxists who are out to destroy the economy just so the government can come in and save the day.

    Thanks, Neal, for calling it like you see it.
  • "We will offer an INVESTMENT of $100 million to Haiti."
    Just like any "investment" in a 3rd world county, it will go to the corrupt politicians and gang leaders
  • Worse?
    What's worse? That Obama wants this, or that some people believe it?
  • Definitely all true
    Obama is definitely a hater of the free market and the American economy. Thatg is why the Dow Jones has been rising especially w/ the passage of democratic bills. Obama hates the economy so much that people are making money again after the conservatives destroyed the economy.
  • Campaign Promises and "Dog and Pony Shows"
    Not sorry to dispute the talkmaster, but this retro-active penalty sounds more like a "D & P" show. The "Political Class" is acutely aware of the campaign money from Wall St., K St. and privately held companies. BO can stomp on this stump all he wants and then reduce the impact thru new tax code. It's Fraudulent to perpetrate the idea that this administration and congress will actually "bite the hands that feed them".
  • Speechless
    This marxist agitator is rendering me almost numb with his daily assaults on just about everything that makes this country great. He's willing to lie, steal, plunder and impoverish the very people who put him where he is today. I hope you Obama voters are happy in your shame.
  • You're not Helping!
    Boortz,

    You don't help us when you make statements such as "He is dedicated to the destruction of America's free market economy." While Obama's policy is not friendly, and I do not believe that his policies are good, we cannot use such language. To suggest that Obama wants to destroy America and the economy is infantile at best. Look, I don't like Obama, but he is not as deviant as you suggest. He is not sitting in the oval office saying "Well Rahm, what is our next step to ultimate destruction of the United States?" No, he may be deluded, but he still believes that he is doing what is best for the country. Just like we didn't care for individuals claiming that Bush was out to destroy America, or that he had some ulterior motive, please don't do the same. You should be above such infantile games.
  • Doublespeak
    ,,,,,,,,"Obama continues to refer to this as a "fee." This is just a fancy was of saying "tax." ,,,,,,,,,,

    These leftists are masters of doublespeak. Orwell would be proud. They have now taken regular everyday words we use, and turned them into something with completely different meanings. They have done it so much that there are certain words they use now that make me cringe and scream upon hearing them. There are perfectly fine words we have used our entire lives for generations and have now made people think those words our bad (e.g. "profits")

    The one word that comes to mind is "investment". That is the new word for stealing taxpayers money and spending it on pathetic gov't programs, entitlements, and vote-buying scams.

    Hussein, the Moron-in-Chief, practically tripped over himself yesterday using the word a multiple of times. He kept saying, "We will offer an INVESTMENT of $100 million to Haiti." Investment?????? WTF!!! What rate of return to we expect to get from that "investment"?
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