Wall Street Wraps Obama Speech

Is that how the masters took his speech?

"President delivers warning to Wall St." by Michael Kranish, Globe Staff | September 15, 2009

.... The speech was delivered at a time when taxpayers are heavily invested in a variety of businesses as a result of bailout efforts begun during the Bush administration and continued by the Obama administration. The government has large stakes in General Motors, Chrysler, insurance giant American International Group, and many banks. While Obama noted that some of the money given to banks has been repaid with 17 percent interest, many other loans are outstanding and it is unclear whether the terms will be met.

Everyone knows the taxpayers got soaked, no matter what this lying government and MSM say!

Obama seemed to get a cool reaction. At one point in his speech, he warned that “those on Wall Street cannot resume taking risks without regard for consequences, and expect that next time, American taxpayers will be there to break their fall.’’ The president then paused, as if waiting for applause. There was none. Analysts on cable television networks that carried the speech live noted there was little applause throughout the speech.

One in the audience, Scott Talbott, head lobbyist for Financial Services Roundtable, whose group represents 100 of the largest financial institutions, said in a telephone interview afterward that many in the business community believe they have already taken steps to prevent a repeat of the economic crisis....

BULL!!!

Related: Wall Street Back the Way It Was

The Return of the Million-Dollar Bonus

Talbott said “mistakes were made’’ by the financial industry, the biggest of which was an overreliance on increases in real estate values and not enough emphasis on the ability of borrowers to repay. That led to a profusion of subprime loans that played a key role in the crisis....

And they are doing it again!

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