Comments on: Obama should call a truce with Wall Street Sun, 28 Jul 2013 14:34:09 +0000 hourly 1 By: JoelReinstein Sun, 12 Dec 2010 18:26:41 +0000 for Obama and Wall Street to declare a truce, they would first have to be enemies.

This is a disgusting, tasteless joke of an article. Obama has kowtowed and made nice with Wall Street since before he came into office. The financial sector’s calculated whining over financial regulation does not amount to a real power struggle.

By: Publius1791 Thu, 02 Dec 2010 16:05:18 +0000 Chrystia Freeland’s article is a complete ‘miss’ on the topic.

The financial trusts are at the absolute core of the recent financial crisis-causing bubble.

Without heightened regulation of derivitive markets, transparency in the commodities markets, and dissolution of the banking trusts nothing will change.

Without stringent regulation, the inside positions and orchestrated manipulation of the markets by monopolistic investment banks will continue to destroy ‘capitalism’ and the qulaity of life for most Americans.

The breakdown of effective oversight and regulation has taken place during the administrations of the last five presidents, regardless of their political affiliation.

Come on, Chrystia, address the real issue. Wall Street and the banking trusts have a corrupting influence that has undermined the ability of a democracy to exist in the U.S. It has been replaced by a plutocracy.

By: GetpIaning Wed, 01 Dec 2010 03:35:21 +0000 Up until I read this article, I thought of Chrystia Freeland as one of the smartest people at Reuters. But this article is pure rubbish. Now that President Obama is celebrating his bipartisan willingness to renew the tax cuts for the super-rich enacted under George Bush ten years ago, it is time for American citizens to ask themselves how strongly they are willing to oppose an administration that looks like Bush-Cheney III. Obama is ruling on behalf of Wall Street, now that it is the major campaign backer of both parties.

It is a reflection of how one-sided today’s class war has become that Warren Buffet has quipped that “his” side is winning without a real fight being waged. No gauntlet has been thrown down over the trial balloon that the president and his advisor David Axelrod have sent up over the past two weeks to extend the Bush tax cuts for the wealthiest 2 per cent for “just” two more years. For all practical purposes the euphemism “two years” means forever – at least, long enough to let the super-rich siphon off enough more money to bankroll enough more Republicans to be elected to make the tax cuts permanent.

Obama seems to be campaigning for his own defeat. Thanks largely to the $13 trillion Wall Street bailout – while keeping the debt overhead in place for America’s “bottom 98%” – this happy 2 per cent of the population now receives an estimated three quarters (75%) of the returns to wealth, interest, dividends, rent and capital gains. This is nearly double what it received only a generation ago. The rest of the population is being squeezed, and foreclosures are rising.

Baudelaire quipped that the devil wins at the point where he manages convince the world that he doesn’t exist. Today’s financial elites will win the class war at the point where voters believe it doesn’t exist – and believe that Obama is trying to help them rather than shepherd them into debt peonage as the economy settles into debt deflation. Obama should call a truce with Wall Street?

Are you serious?

By: MHB Mon, 04 Oct 2010 21:37:07 +0000 You make very good points except for the part about Obama ‘demonising’ business. As you note he has actually been quite business friendly in his policies.The rhetoric coming out of some in the business sector reflects the approach of their Republican allies:slash and burn. Obama, if anything,has been a bit too cool. A bit of demonising Wall Street and their Republican friends for the mess they got us all into ,say in 2009, would probably have meant that he would be on the positive side of 50% in the polls.Not to mention having a base that is more “fired up”

There is plenty to criticise Obama about but his tone is not one of the things. his has been a really conciliatory Presidential tone for most of the past almost two years.

The really offensive tone is coming from the other sid.You mentioned the gentleman who compared a proposed adjustment in his tax rate to Hitler’s invasion of Poland.Has Obama or anyone in his administration made any comment that is remotely similar????

By: jobon1 Tue, 14 Sep 2010 15:39:08 +0000 As far as the argument that the U.S. banking industry will take their “talent” elsewhere in light of new regulation? PLEASE DO, I AM BEGGING YOU, LEAVE THIS COUNTRY NOW! Take your wealth destruction somewhere else, the further away, the better. Actually, I’m sure Greece would be willing to welcome you with open arms…

By: nbywardslog Tue, 14 Sep 2010 06:49:22 +0000 No, Obama should ignore Wall St, reconnect with the American people, and then if by some slim chance or giant miracle he gets a second term, sort those lizards out once and for all.

As the first threader said, get real: the guy’s not up to it… th-hour-cometh-mice.html

By: Warburton Tue, 14 Sep 2010 00:35:43 +0000 After reading the first line of this article, I immediately knew it was not worth reading.

By: KostaL Mon, 13 Sep 2010 23:32:37 +0000 “That’s the wrong way of looking at things. Stricter regulation of financial services is necessary not because American bankers were bad, but because the rules governing them were”


Dear Ms. Freeland as much as I’d like to believe that, you are living in some other form of reality, I hate to sound harsh but this strikes a chord.

Note the date of when the document was filed
Note what the examiner is investigating
Note it’s JPMorgan that was BAD
Note it’s Jamie Dimon and his bankders that were BAD 0812229100907000000000002.pdf

Question to you if I may, do Reuters journalists actually perform investigative reporting?

By: ccaaldn Mon, 13 Sep 2010 22:42:41 +0000 I just love Obama’s stance on Wall Street…I’m working in London finance industry, with our Coalition Govt now putting a cap on foreign skilled workers, I’m already seeing a shortage of skilled labours/bankers in the City. With Obama’s bashing on US banks…perhaps it’s best for US banks to be HQ’d in London (fingers crossed with our sensible Coalition Govt to make right decision!!)

Ultimately….shortage of skilled labour + More US Investment bank in London = Base Salary Increase!

Come on Obama….do the right thing and drive the Wall Street out of America!!! afterall they do nothing for the main street apart from spending their big fat bonuses on restaurants; luxury items; property investment etc. (oopss actually come to think of it…they are actually benefiting main street!)
Oh well…who cares, I just hope London can get these freebies!!!

By: io999 Mon, 13 Sep 2010 21:55:11 +0000 Stock-MD: Well said, and a valuable expansion of the article. In truth, I admire this article quite a bit, since it walked a middle line knowing that radicals from both sides would rail on it (see comments above). Even if it is incomplete and mostly speculative, I believe it expresses a rational, non-incendiary approach that has been greatly lacking in recent media. Thanks for that, Ms. Freeland.