One Guess Why Obama Is Suddenly Investigating Wall Street Traders Apr. 22, 2011

Damage control after breaking all promises on, "YES WE CAN," and a transparent government that remained transparent in that it never materialized. So now lets see if some brownie points can be scored and pacify the people until the next election. If by some wondrous act and I do say act, gas prices do fall. And if he regains all his followers because of this one act, again I say that word. And he gets voted back in, "God forbid" you will see gas prices drop temporarily, than skyrocket back up, after sucking everyone in.

Gas prices are up? People are pissed about paying $5 per gallon? Let's see if we can't blame the speculators on Wall Street, says the President. Read more: www.businessinsider.com... xzz1KKIGSUdg

www.businessinsider.com...

Good topic. I bet a lot of things will become cheaper in the next year due to the elections. Although now that I've read that the poll machines are rigged, I don't think it really matters now anymore. My family immigrated (legally) into this country because they thought it was where dreams can come true. I guess that is true for nightmares as well

I'm pretty sure that the speculators are playing a role in the high commodity prices, and it's certainly is easier to blame them than it is to mention the possibility that it's all just the dollar collapsing that is causing it!!

but well, I am sure if he investigates hard enough he will find something to prosecute, and I am also sure that no prosecutions will come about.....I mean, they've investigated the housing bust, and there wasn't any....

so, guess my question is, how much money are they gonna have to borrow to pay for this investigation that will be followed up by no action???

Originally posted by sunqueen30
Good topic. I bet a lot of things will become cheaper in the next year due to the elections. Although now that I've read that the poll machines are rigged, I don't think it really matters now anymore. My family immigrated (legally) into this country because they thought it was where dreams can come true. I guess that is true for nightmares as well

It was a very good place where dreams could come true up until 9/11, than it all started to change for the worse thanks to Bush, and now Obama where he is finishing it off with his fascist ideas from where Bush left off. But it goes deeper than just these two individuals, there is a plan to make hugh changes, and it's not just for the U.S.

reply to post by dawnstar

You pretty much said it, what will come of it exactly. I do see this action though as possibly damage control, cause less and less people like the guy.

Originally posted by sunqueen30
Good topic. I bet a lot of things will become cheaper in the next year due to the elections. Although now that I've read that the poll machines are rigged, I don't think it really matters now anymore. My family immigrated (legally) into this country because they thought it was where dreams can come true. I guess that is true for nightmares as well

What? Relative price increases usually have to do with the rate of inflation (compared to increase in wages). Volcker (fed Chairman during Carter's stint) was put into his position by Pres. Carter (Volcker and Carter were both Republicans) and caused a recession to stop hyper-inflation due to a prolonged 'boom' in the economic cycle. Historically when there's a Democrat in office (around election time) there's an increase in inflation (to my assumption because they are more pro-taxes and gov't expenditure) and a contraction of inflation when there's a Republican in office (around election time) because they play more pro-business, and when businesses do well it drives up inflation (greater money supply because... well more people are making more money). [1]

Wall Street is disgusting, but as long as you have corporations you're going to have to have them. All you can do is best regulate them as you can, and with corruption as rampant as ever I doubt this is more than a token showing.

IMHO, I think 'high-commodity' prices are just affecting people because a greater portion of their income is taken by a relatively inelastic good (i.e. oil), god knows that's how it's affecting me, and are going to continue to do so until the speculators calm down and bring down the oil prices. But let's be honest, that's the last thing these speculators want to do.

[1] Principles of Economics 5th Edition, by Gregory Mankiw

I admire President Obama's investigation of shady practices on Wall Street. He's got guts. No president for the last 50 years has ever had the intestinal fortitude to clash head-on with the banks and other Wall Street moguls. Who wants to bite the hand that feeds them?

Now the big corporations and financial institutions are boasting about their record profits for this quarter, and make no bones about the extraordinary salaries they continue to pay to their top executives, despite the loud outcry against them. Meanwhile the middle class and the poor are getting poorer and poorer -- - no wealth is "trickling down" from the folks that are supposed to be responsible for creating new jobs. Rather, the nation's wealth is trickling upward to the top 2% of the population, while the other 98% can barely make ends meet.

You do realize, I hope, that it was the greed and shady practices on Wall Street that caused the deep, deep, global recession that we are just now beginning to climb our way out of? Republicans since Reagan have also managed to strip away all the regulations that used to protect us from the recklessness of those who have already sunk our economy and will probably sink it again. They figure that they are "too big to fail" and that the government will rush in to rescue them from their own excesses and mistakes whenever they get in trouble again, even when it's been clear that they are the ones who caused the economy to collapse in the first place.

In light of the ridiculous charges that the President can make changes by simply snapping his fingers, the truth is he has to work with Congress and sometimes has to compromise before the two sides can come to an agreement. He has the power to veto the really horrendous bills that reach his desk, but has very little control of the House and Senate.