Friday, April 23, 2010
Obama to Wall St.: ‘Join Us, Instead of Fighting Us’
This article is interesting because it shows how politics have real effects on the financial sector. Obama, whose poll numbers have been dropping significantly, has ramped up his efforts to regulate Wall Street in attempt to tap into the anti-establishment sentiment of the country. However, financial reforms which have great effect should not be made as part of a political strategy to win favor before midterm elections.
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With the economy as it was when the President came into office and the way Wall Street was they had to be bailed out, unfortunately with huge amounts of money and many people don't realize the good that will come out with the bailout. No matter the President in office, it would have probably been done by anyone in office.
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