The Wall Street President


President Obama has called people who work on Wall Street “fat-cat bankers,” and his reelection campaign has sought to harness public frustration with Wall Street. Financial executives retort that the president’s pursuit of financial regulations is punitive and that new rules may be “holding us back.”

But both sides face an inconvenient fact: During Obama’s tenure, Wall Street has roared back, even as the broader economy has struggled.

The largest banks are larger than they were when Obama took office and are nearing the level of profits they were making before the depths of the financial crisis in 2008, according to government data.

Wall Street firms — independent companies and the securities-trading arms of banks — are doing even better. They earned more in the first 21 / 2 years of the Obama administration than they did during the eight years of the George W. Bush administration, industry data show.

Four years ago Wall Street invested millions on the presidential campaign of a freshman senator with an empty resume and dubious connections. Their ROI has been historic.

I’ll start believing in OWS when they start going after the Wall Street President.

This entry was posted in 2012 Elections, Barack Obama, Corruption, Crony Capitalism, Occupy Wall Street, OWS, Politics, Uncategorized and tagged , . Bookmark the permalink.

34 Responses to The Wall Street President

  1. DandyTiger says:

    I’ll start believing in OWS when they start going after the Wall Street President.

    Kind of tells you all you need to know about OWS that they’re in NY instead of all in DC. And the ones in DC are protesting the people out of power.

    How on earth can you watch that and not know that OWS is not your friend.

  2. votermom says:

  3. Mary says:

    I’m amazed that WAPO published this article….they’ve been in the tank for Obama for so long.

    But here’s some of the stats (as reported on Morning Joe—which also surprised me):

    Wall Street Profits:
    Obama administration (2 yrs): $85.52 billion
    Bush administration (8 yrs): $77.17 billion

    From NY State Comptroller, re during Obama administration:
    Increase in bank assets by 10%
    $34 billion banking profits so far this year
    Average Wall Street salary grew by $16.1%
    $20.8 billion in bonuses in 2010 for financial firms

    Facts are facts, folks. Wall Street has given Obama, so far, $15.6 million for his 2012 campaign. Big O called Jon Corzine ‘Our Wall Street guy.”

    These are the numbers that matter; not the little $5/month bank fees for cards, although I’m glad it was eliminated.

    If even Morning Joe is talking about these numbers, then this should have a huge impact.

  4. yttik says:

    They can’t go after the wall street president. He’s their guy.

  5. HELENK says:

    owies have events planned until Oct 2025.
    They seem to think the donations will just keep on coming. No future prospects other then to live in a tent.

  6. HELENK says:

    backtrack’s dept of labor screws us again. Eliminates conflict of interest disclosure for union bosses

  7. HELENK says:

    this video is a keeper
    the day after halloween, 99% do not have candy left, 1% does

  8. HELENK says:

    gallup poll number of people claiming to be democrats now 43% in 2008 50%

    I guess donna brazille got what she wanted when she insulted old time democrats during the campaign

  9. HELENK says:

    pelosi speaks, says extremist republicans will get backtrack reelected.

    one of the best comments
    she is related to the kids with their arms in the barrel

    • DeniseVB says:

      That upsets me too. We did not need to know what unit was involved because of the retaliation dangers, not only to the men in harms way but their families at home (they are based here).

      I still think the chopper the bad guys shot down killing several Seals was NOT a coincidence. Our area’s mayors banned the media from hunting down and interviewing the Seals and their families.

  10. votermom says:

    OT: The Neverending Barack Campaign network is in a death spiral.
    It must be the Obama touch.

    Coming into a new television season, about the only solace for the new management regime at NBC was that the network’s prime-time fortunes had been so bad for so long, things could not get much worse.

    Oh yes they could — and they have. In a year in which NBC’s new corporate owner, Comcast, significantly increased the budget for fall shows, the ratings have continued to slide even as competitors have had success.

    How bad are NBC’s prime-time ratings? Bad enough that most of the hours on NBC’s schedule, other than the potent “Sunday Night Football” package, have regressed in ratings this season. While every other network has generated a new hit, NBC, which needs hits the most, has not.

    The already fourth-place rating in the financially crucial area of viewers ages 18 to 49 has dropped on average 11 percent, to a 2.5 (3.1 million) this year, from 2.8 (3.57 million viewers) last year. NBC has also lost more than 800,000 total viewers from last season. Several new shows never got off the ground, like “The Playboy Club” and “Free Agents,” both of which have been canceled.

    It’s bad enough that without the big ratings supplied by the N.F.L. (which costs NBC more than $600 million a year to buy) NBC would be struggling to stay out of fifth place in the ratings. Without football, NBC is now tied with the Spanish-language network Univision in those 18-49 ratings.

    • DeniseVB says:

      It’s the network of tingles, misogyny and the very unFunny, Sarah-Hillary -bashing, SNL. I’ve been choosing not to watch since 2008.

      Greg Gutfield’s Red Eye at 3 a.m. beats each of the MSNBC primetime programs. Wonder why? 😉

  11. HELENK says:

    most likely this will be a republican campaign ad in the election cycle

  12. HELENK says:

    owies are now buying TV ads. I guess the msm did not give them enough free air time

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