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Re: wall street lost, big time

By: Cactus Flower in ALEA | Recommend this post (0)
Wed, 07 Nov 12 6:56 PM | 90 view(s)
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Msg. 11492 of 54959
(This msg. is a reply to 11488 by Cactus Flower)

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"Four years later, Wall Street as well as the oil and gas industry will return to work today knowing that they heavily backed the losing side and now have very little political capital with the re-elected Obama administration and the Democratic majority in the U.S. Senate.

Some urgent bridge-building will be required in the coming days if they are to influence financial regulation and energy policy over the next four years."

bridge building? how about changing!!




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The above is a reply to the following message:
wall street lost, big time
By: Cactus Flower
in ALEA
Wed, 07 Nov 12 6:43 PM
Msg. 11488 of 54959

o now has their number.

"There are many lists now circulating of the biggest winners and losers from the election; oddly, however, none of the lists I’ve seen mentions just how bad this result is for Wall Street’s Masters of the Universe.

The story, as you may recall, is that the financial industry — having brought both itself and the rest of the world to the edge of disaster — was bailed out by taxpayers. Yet far from being grateful, top financial types were furious at Obama for occasionally hinting that some of them might have misbehaved a bit. And investment bankers — who normally lean Democratic — went overwhelmingly to the other side, pouring cash into Mitt Romney’s coffers in the no doubt correct expectation that a Romney administration would dismantle financial reform and treat their wealth with the adulation they believe to be their birthright.

But Romney lost and Obama won. The limits of their power have been cruelly exposed, and the reelected president now owes them nothing."

http://krugman.blogs.nytimes.com/


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