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Thread: Corporate cocksucker Obama promises to deregulate corps even more. That'll work.

  1. #1
    Elite Member Grimmlok's Avatar
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    Oct 2005
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    Thumbs down Corporate cocksucker Obama promises to deregulate corps even more. That'll work.

    President Barack Obama penned an op-ed in this morning's Wall Street Journal that reads like an apology to the business community. During the first two years, the Obama administration focused on economic recovery and the prevention of a future meltdown through financial regulatory reform. Today, however, his positions seems to have shifted as he announces a new executive order to review federal regulations and eliminate rules where possible.

    Citing recent healthcare legislation and financial regulatory reform, major American corporations are shying away from spending money on growth. This is despite the fact that these companies hold over $2 trillion in cash and liquid assets.

    The argument for less regulation reads somewhat antithetically. Obama is quick to point out how regulation places "unreasonable burdens on business burdens that have stifled innovation and have had a chilling effect on growth and jobs." His executive order promises to eliminate "absurd and unnecessary paperwork requirements that waste time and money" as well as "avoid excessive, inconsistent and redundant regulation."

    But in the same breath, he recognizes how a lack of government oversight nearly caused the next Great Depression. In the president's words:

    At other times, we have failed to meet our basic responsibility to protect the public interest, leading to disastrous consequences. Such was the case in the run-up to the financial crisis from which we are still recovering. There, a lack of proper oversight and transparency nearly led to the collapse of the financial markets and a full-scale Depression.

    Obama supports his arguments using examples that range from baby formula to saccharine, from workplace safety to more fuel-efficient cars. He also mentions how he will strive to cut regulation most where it limits small business.

    Beyond the brief mea culpa for the government's failure in the financial crisis, however, there is no mention of regulatory reform in the financial sector. It left unclear, then, which regulations Obama means when he promises to get rid of the "dumb" ones?

    ABC's Jake Tapper has already identified today's op-ed and executive order to follow as "another proverbial move to center" for Obama. Having named Wall St. veteran Bill Daley as his new chief-of-staff and coasting on soaring approval ratings in the wake of the Arizona shootings, the timing seems just about right.

    Obama vows to eliminate "excessive" regulation for big business - Barack Obama News -
    LOl move to the center? the guy was already right of center, he's sliding into pure Republican space.

    What a joke.
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  2. #2
    Elite Member witchcurlgirl's Avatar
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    He's a status quo corporatist. Just like the last prick.

    How's the change? the hope? anybody?
    Last edited by witchcurlgirl; January 18th, 2011 at 01:25 PM.

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    Elite Member MohandasKGanja's Avatar
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    Apr 2008
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    In the Republican rush to get to the right of Obama, and make him look like a socialist by comparison, we will have:

    a) President Tim Pawlenty put American back on the gold standard, thereby shrinking the economy to 5% of its' current GDP;
    b) an invasion/re-invasion of Kuwait and Iraq for not showing proper gratitude for helping them out (actually suggested by Sean Hannity a couple of nights ago);
    c) tax rebates for companies that drop healthcare insurance;
    d) declaration of the Social Security Administration to be part of the axis of evil
    e) recognition of the Limbaugh estate as a national shrine;
    f) White House press office set up in the FoxNews building, to save on travel

  4. #4
    Elite Member CornFlakegrl's Avatar
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    I should probably read the Obama article before commenting, but I'm lazy.

    Hopefully he means eliminating bullshit legislation that gets passed to make lawmakers feel busy and enforcing or creating real protection.

    My husband is in real estate and after the crash, there came some new regulations that were out and out stupid. They made is job more tedious and time consuming (meaning he earns less money since he works based on production) and did not one damn thing to protect against fraud.

    But the lawmakers were all over the press touting their victory for the public. Utter bullshit.

  5. #5
    Gold Member Corsair's Avatar
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    May 2006


    Agree completely with Cornflakes, I have been in mortgage/real estate loans since the 80's. The new regulations were unreal, not helpful, not useful, didn't make sense and put a lot of mortgage brokers out of business. They continue to "fix" things and I"m out of work once again. Not sure what the victory was, lots of people not getting loans and lots of loan people making less and less money if they even still have a job. And that's just in my little corner of life that the government's intervention has "helped".
    Don't worry about what other people think. They don't do it very often.

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