Obama stops by The View to talk about the economy - US politics live

Less People are Working Harder than ever to Support Obama's Lavish Lifestyle, Fundraisers, Cronyism, Solyndra, & Vacations Galore.


It's time to end the Obama Nightmare.


FU BO!

Dodd-Frank law: Too big to succeed



May 14, 2012
STEVE HUNTLEY


Anyone who thought that Washington had cured the fiscal ills of the 2008 financial meltdown must be wondering what the hullabaloo about the JPMorgan Chase financial-deal-gone-wrong is all about.

After all, the 2,300-page Dodd-Frank Wall Street Reform and Consumer Protection Act was passed by Congress to reassure us that the wisdom of regulatory government would protect us from the marauding ways of the cowboy financiers on Wall Street.

But the $2 billion bad bet in no way endangers JPMorgan, much less the national economy. That’s a lot of money, but it’s only a ripple in the firm’s ocean of $2.3 trillion in assets, according to Reuters. What it did was expose the wizard behind the Dodd-Frank curtain as a fraud in ending too big to fail.

As far as I can make out from press reports, JPMorgan had made some big loans that it had become concerned were at risk of default. So it made investments to hedge that risk. Then, things suddenly didn’t look so bad for those loans, so the firm made further trades to protect itself if the default risks fell, in effect hedging against its first hedge.

I’m sure in the world of high finance, all that makes cents and dollars but it has us mere mortals scratching our heads trying to make sense out of it, especially since it ended badly. Still it would be nobody’s business but that of JPMorgan’s investors were it not for the fact the firm is a commercial bank holding federally insured deposits, meaning taxpayers could be on the hook for depositor losses. A key question is whether the trading would have violated the Volcker rule if the rule were in effect — it’s not because regulators are still figuring out what it is supposed to be under the vague 2010 Dodd-Frank law.

The rule, named for former Fed chairman Paul Volcker, is aimed at preventing commercial banks from doing risky trading that endangers depositor funds. The fine point here is whether JPMorgan was engaging in risky trading for speculation, which would be prohibited, or risky trading to hedge, which apparently would not.

That sounds a lot like a difference without a distinction. Dodd-Frank defenders blame nefarious lobbyists hired by wicked Wall Streeters for the confusion and failure to resolve the issue.

Curiously, this was not a problem under the Depression-era Glass-Steagall Act separating commercial and investment banks, but it was repealed in 1999...by Bill Clinton.




http://www.suntimes.com/news/huntley/12522889...

Obama & Democrats: One Big Failure



Dodd-Frank law = Ensures Too Big To Fail Bailouts



After the 2008 meltdown, rather than go back to the clear language of that law, Congress seized on the crisis to meddle in banks small as well as large, credit card dealings, bank fees and anything it could sweep under the title of reform and consumer protection.

It was done in the name of ending too big to fail. But since 2008, big banks have gotten bigger. Richard W. Fisher, president of the Federal Reserve Bank of Dallas, has upset the titans of big finance and the potentates of big government by stating the obvious — these institutions are so huge that Washington would have little choice but to come to their rescue in another crisis.

Fisher makes the common-sense observation that the biggest banks must be broken up or limits placed on their trading. But breaking up the banks would rob government of the excuse to lord over them through the regulatory state. Breaking them up would deny the big banks their enormous financial clout and the implicit taxpayer bailout. There you have the love-hate embrace of big government and big business.


http://www.suntimes.com/news/huntley/12522889...

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You have Topix SAYING ALL THESE = VAMPIRE Obama SUCKS economy DRY , Exclusive:--Over 55 and jobless -- Americans face tough hunt, JPMorgan loss as market risk,

=====That means Obama makes THE ECONOMY VERY BAD

=====There SHOULD not be denial about the destruction of economy DONE by Obama

=====Stimulus had done a lot of harms, by taking and making loads of vast debt a crisis.

=====So were bailouts to GM, etc., making high debt loads, while defying the concept of free enterprises and entity capitalism, to make less private ownership

=====Over-printing money and keeping on borrowing , with not any know-how to make economy work, by
suffocating economic concerns as bad habits, accustomed to manifest habitual and uselss purpose to materialze economic harms in all aspects, to construct and develop economic cancer to all people, like addiction to hard drugs

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According to the Treasury Dept., the national debt increases $8.9 Billion EVERY DAY. Obama has spent more money than anyone in history. None of it was his.

Let's see. North Carolina???? Hmmm Let me see....oh yeah. Just passed the Tea Party favorite" uh...something like the only real marriage is one between man and woman...and quote The Book of Homer Simpson from the Bible...to offer corroboration???? You leave all your toilet seats in that state up....don't you? Man's man....simple and always Dodge Ram, and 500 yr old Whiskey. I know about blacks but can woman there show there face in public? Drinking fountains: white, black, female, gay...real men( 9 inches or more) only????? Really

Oh no...another cult paste

"We don’t know all the details. It’s going to be investigated, but this is why we passed Wall Street reform.” What happens when COMMUNISTS try to control and reform a capitalist free economy? EPIC FAIL. Then a decline into thug run, black market brutality. You know, like Russia and CHICAGO.

Obama's financial training = NONE
Obama's private sector job experience = NONE
Obama's business experience = NONE
Obama's prior management experience = NONE

MMM79 wrote:

Obama's financial training = NONE
Obama's private sector job experience = NONE
Obama's business experience = NONE
Obama's prior management experience = NONE

There are many Four-Letter Words to Describe Obama but the one that best fits your description of Obama's Talent Level is: Z-E-R-O!



"Obama is an incompetent Amateur."
- Bill Clinton

Obama 'Devastating' For Civil Liberties

Talk of the Nation
October 10, 2011

Jonathan Turley argues in a recent op-ed in the Los Angeles Times that "the election of Barack Obama may stand as one of the single most devastating events in our history for civil liberties." He says President Obama has continued many of the most controversial Bush administration programs.

JOHN DONVAN, host:
And now, the Opinion Page. After eight years under President Bush, many civil libertarians were thrilled when Barack Obama won the 2008 election. What a difference a few years make. Law Professor Jonathan Turley argues in a recent op-ed that, quote, "the election of Barack Obama may stand as one of the single most devastating events in our history for civil liberties." Now, if you supported President Obama in the last election, we want to know: How important is this issue of civil liberties to you? Will it make or break your support for the president going forward?

So Jonathan Turley, he's a law professor at George Washington University. His piece, "Obama: A Disaster for Civil Liberties," ran last month in the Los Angeles Times, and he joins us now in Studio 3A. So you say of President Obama that his election may be one of the single most devastating events in our history for civil liberties? That is very, very strong language, Jonathan.

JONATHAN TURLEY:
It is a strong language, but I think civil libertarians are coming to grips with what is really a building disaster for our movement, and it's been a rather difficult process. You know, I have a large civil liberties blog, and there's a lot of soul-searching among civil libertarians about what exactly happened. But we are engaging in a sense of collective denial when we deal with President Obama.

DONVAN:
You mean you're not talking about it publicly.

TURLEY:
Yeah. And I think that's part of the purpose of this column, is to address the fact that President Obama is a perfect nightmare when it comes to civil liberties. He not only adopted most of President Bush's policies in the civil liberties areas when it comes to terrorism, but he actually expanded on them. He outdid George Bush.

And they range. His position on torture and refusing to have people investigated or prosecuted for torture, on privacy lawsuits. He pushed aggressively for the dismissal of dozens of lawsuits brought by private interest organizations. He's for immunity for people who engaged in warrantless surveillance. He has fought standing for people even to be able to get courts to review his programs, much like George Bush. He kept military tribunals and the authority to make the discretionary choice of sending some people to a real court, some people to a military tribunal. He has asserted the right to kill U.S. citizens based solely on his own discretion, that he believes them to be a threat to the country.

His administration has, once again, as with the Bush administration, cited secret law, that - and including a case of assassinating citizens - a law that we're not allowed to see, but we have to trust them.


http://www.npr.org/2011/10/10/141213273/op-ed...

The View .... spending some time with his fellow girlfriends.

Bill Clinton: "President Obama Is Incompetent"

May 15, 2012

Edward Klein, a former New York Times journalist and author of a new unauthorized biography of President Obama, says in his book that Former President Bill Clinton said that President Obama was “incompetent”. Klein also wrote that Bill urged his wife Hillary to challenge President Obama in the Democratic primary.

Klein has been an editor at the New York Times and at Newsweek before writing “The Amateur” a biography of President Obama. In the book he says Clinton told him that Obama was an amateur who did not know how to be President. Klein says that Clinton, last August, urged his wife Hillary to run against Obama as the Democratic party’s nominee. His reasoning was because “the economy’s a mess, it’s dead flat. America has lost its Triple-A rating.” He told his wife,“You know better than Obama does. The country needs you! The country needs us!”

Hillary reportedly responded,

“Why risk everything?”I want my term (as Secretary of State) to be an important one, and running away from it now would leave it as a footnote.”

She added that the door was still open for her to run n 2016.

Bill Clinton reportedly said that he was more concerned with his own age than Hillary’s.

Bill said to her,

“I know you’re young enough! That’s not what I’m worried about. I’m worried that I’m not young enough,”

Klein wrote that Hillary countered by saying,

“I’m the highest-ranking member in Obama’s Cabinet. I eat breakfast with the guy every Thursday morning. What about loyalty, Bill? What about loyalty?”



Read more at http://www.inquisitr.com/236761/bill-clinton-...

MMM79 wrote:

Presidential training - 3 years and counting ... to 8 years!

he crosses his legs just like those other chicks on the show....real macho man.

Responsibility wrote:

<quoted text>
Presidential training - 3 years and counting ... to 8 years!

Obama has been a Failure since day 1.


3 Years later Obama is a CRIMINAL & a Failure.






8 years in Prison for Obama sounds about right.

Responsibility wrote:

<quoted text>
Presidential training - 3 years and counting ... to 8 years!

Three years in training and he's still incompetent.

Did Obama Just Assassinate A U.S. Citizen?- YES HE DID!






Aulaqi Killing Raises Questions Over Presidential Powers


Published 1, September 30, 2011





Read More:
http://jonathanturley.org/2011/09/30/did-obam...

peter tucker wrote:

Let's see. North Carolina???? Hmmm Let me see....oh yeah. Just passed the Tea Party favorite" uh...something like the only real marriage is one between man and woman...and quote The Book of Homer Simpson from the Bible...to offer corroboration???? You leave all your toilet seats in that state up....don't you? Man's man....simple and always Dodge Ram, and 500 yr old Whiskey. I know about blacks but can woman there show there face in public? Drinking fountains: white, black, female, gay...real men( 9 inches or more) only????? Really

go back to your gerbil puffer.

It's not Business that's stifling America, it's Big government and their job killing regulations! This class warfare and envy that Obama has loosed on this nation is right out of Alinsky's book: "Rules for Radicals." Our founders were quite explicit about BIG government and the tyranny that follows.

The Bolsheviks used the same tactics in 1917 that ushered in 70 years of misery in the now defunct Soviet Union....So much for dumbed down liberal PubEd.

http://www.edroyce.com/my-conservative-belief...