| Jump to bottom |
Biased conclusion
So I guess he traveled into a time machine back to 2007 when it started? I don't care for the guy either, but my 401k tanked in 2008 BEFORE he was elected . His dumb a#@ just made it worse.
Biased conclusion
Think of the situation this way. The "big money" folk have just affected one of the largest cash conversions in history.
There was the market at 14,000 and at that peak, the "smartest men in the room" those who play the entire Wall Street game with high tec means chose to "harvest the market" and little guy and the unsuspecting took a big hit.
Getting the government to bail out those large financial institutions (TARP) labeled about to bring on "total collapse" was like icing on their cake.
The subsequent mega consolidations and big bonus offerings inside these federally fattened corporations are now revealing a grand coup at taxpayer expense.
When the conditions are judged just right, these "big money" people will get back into the market and double or more their money. It's their world and their game. Little guy beware.
401K people and individual investors suckered into the market believing it to be a trustworthy and predictable means to earn gains will have to grin and bear it.
To pin the blame on President Obama is noteworthy for its narrow partisanship, but not the whole story. What about that now unnamed, forgotten man, George W. Bush who brought the whole "near collapse" to a head well before the national election.
Biased conclusion
The economic crash was the result of the election of a communist.
Biased conclusion
Finley writes, "the nation's largest companies are sitting on ... roughly 10 percent of their assets, the largest stash of idle money in 40 years... This is a symptom of the uncertain tax and regulatory environment created by the Obama administration and a Congress that is increasingly hostile to business."
Really, Nolan? You know that's the cause, for sure? Could the cash hoarding possibly having something to do with the economic crash that occurred under the Bush administration?
This strikes me as a highly-biased and narrow-sighted conclusion. A weak swipe.
| Jump to top |
