Obama:"Now is Not the Time for Profits"
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First, let me say that banks and businesses that get TARP money should not, under any circumstances, be allowed to pay out ANY bonus money to any employees or corporate officers. That is not the issue here. That's a whole other subject for another thread.
My point is this--Bottom line, profits are what enable our economic system to work and thus allow businesses to pay wages and benefits to workers AND send tax revenue to Washington. "profits" and "bonuses" are seemingly interchangeable in the democrat vocabulary and I think it's important that the distinction between the two be made. At the very least, it was a poor choice of words by BO and at the worst a signal that he will continue to demonize businesses, corporate and small, that actually make money(et al, Exxon Mobil is already being attacked for making an all-time profit last quarter) for shareholders, as if they are doing something 'wrong'.
My point is this--Bottom line, profits are what enable our economic system to work and thus allow businesses to pay wages and benefits to workers AND send tax revenue to Washington. "profits" and "bonuses" are seemingly interchangeable in the democrat vocabulary and I think it's important that the distinction between the two be made. At the very least, it was a poor choice of words by BO and at the worst a signal that he will continue to demonize businesses, corporate and small, that actually make money(et al, Exxon Mobil is already being attacked for making an all-time profit last quarter) for shareholders, as if they are doing something 'wrong'.
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I wuold like to see Obamer's plan to sell my lot of last year's retread tires.
They been sitting in the stockroom all year long, and nbodys buying.
They been sitting in the stockroom all year long, and nbodys buying.
To my knowledge Obama has ever been around very many business environments, and cetainly has never been accountable for a P&L statement.
To say he understands or is experienced in financial markets would be a stretch. We got what we voted for.
I don't have a problem with his message, which was poorly worded. I believe what he meant to convey was that excessive bonuses (and I believe bonuses altogether) need to be scrapped since these companies are now accountable to the taxpayers.
It is, as he said "disgraceful."
The Cowboy from Texas never uttered these words about his friends pocketing taxpayer dollars. :mad2:
To say he understands or is experienced in financial markets would be a stretch. We got what we voted for.
I don't have a problem with his message, which was poorly worded. I believe what he meant to convey was that excessive bonuses (and I believe bonuses altogether) need to be scrapped since these companies are now accountable to the taxpayers.
It is, as he said "disgraceful."
The Cowboy from Texas never uttered these words about his friends pocketing taxpayer dollars. :mad2:
Uh, excuse me. Mr. Obama has been to numerous stores, AND has a checking account, so I'd say he's more than qualified in the areas of finance and economics.
The cowboy from Texas is living high on the hog now that he has his Halliburton and Exxon dividends coming in.
FWIW, a whole lot of folks experienced in, and understanding financial markets either didn't see this coming for the past few years, or ignored it.
That's a fantastic rationale for attacking all things commercial.
This is a perfect storm for leftists: they get to re-regulate all sorts of industries (while ignoring their own culpability for root-cause entities like Freddie & Fannie), they get to opine on and possibly set some private-sector wages and they get to Congressionally investigate anyone who opposes them. All this while the media focuses on how Obama's daughters are transitioning into the White House and tells us how the Republicans aren't being bipartisan by supporting bad legislation.
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It's On A Slab
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Yup, we're now seeing the "soft landing" that Greenspann kept talking about when he arbitrarily kept interest rates so low.
If this is a soft landing, I'd hate to see what the real plane crash looks like.
He definitely meant "profits". However, I do know for a fact that the underpants gnomes will strongly disagree Obama here. It really messes up Phase 3 of their plan.
And, now, some of those same folks are going to "fix" the mess they made. Lord, help us.
someone's living in fantasy land. where did i attack all things commercial. i hope your strawman provided you an adequate target for your rant
and btw fannie mae and freddie mac were not root-cause, they got to the party too late to be a causal factor.
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exactly my point. i'm at least glad someone is paying attention to my posts
Ugh, what? Did you say something?
The Republicans are showing to be much more bi partisan than the Dems on this bill. There were 12 Dems that voted against the bill in congress. This is a partisan bill that is aimed more toward the extreme special interest of the left (Planned Parenthood, ACORN, Global Wrarming groups, George Sorros etc) and has little chance of stimulating the economy. The Senate republicans could go along way to restoring their conservative principles to reject this bill outright. It may still pass but it would expose Obama's radical agenda regardless of how the media covers it. The more that comes out about this bill, the more shocking it is. With Chris Dodd, Barney Frank and Paulson still overseeing the banking industry and their practice of helping out their contributors and punishing all others, it is hard to see a light at the end of this tunnel either.
Well, we will all find out soon enough. This economic event is just a precursor to the main event, which will take place within the next 10-15 years, as the baby boomer retirement applies the coupe de grace...
Hang on. Nobody's buying new cars, so they're hanging on to their cars longer. Your tires may begin selling soon enough.
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