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When Obama Talks About His "Massive Fight" With Wall Street, What Exactly Does He Refer To?
On one hand, none other than the company whose very future depends on the continuity of the financial status quo (that would be Bloomberg whose 200,000 Bloomberg terminals are the cashflow lifeblood of the company and for which another financial crash would mean a huge hit to the bottom line as millions of financial workers are again laid off) has a cover story, as well as a cover, depicting Elizabeth Warren as Wall Street's bogeyman.
On the other hand, we now learn that Warren is also warning that Obama's pet trade project, the 12-nation Trans-Pacific Partnership (TPP) which is supposed to counter the ascendence of China in global trade, has been warning about the potential damage of the trade deal and has been arguing that the deal would cost American jobs (for more on the topic, see "Free Trade Is Plutocratic Propaganda").
And Obama is not happy: according to the NYT, Obama called Warren "absolutely wrong" in his criticism of the TPP.
“The truth of the matter is that Elizabeth is, you know, a politician like everybody else,” Mr. Obama told Matt Bai of Yahoo News in an interview conducted on Friday at Nike’s headquarters near Beaverton, Ore. “And, you know, she’s got a voice that she wants to get out there, and I understand that. And on most issues, she and I deeply agree. On this one, though, her arguments don’t stand the test of fact and scrutiny.”
Ms. Warren, a former Harvard law professor, has become an outspoken leader of those Democrats who argue that the agreement would cost American jobs.
But neither the fate of the TPP, nor what happens with global trade (spoiler alert: it continues to collapse in a world in which central banks micromanage everything and in which there is a global race to the currency bottom), nor the increasingly hostile relationship between the president and the potential Democratic presidential candidate (not to mention a big part of his liberal base) is what we would like to focus here, but the following quite amusing excerpt from the NYT piece:
[Obama] seemed most irritated at Ms. Warren’s suggestion that the trade pact could be used as a vehicle to undercut the financial overhaul that Mr. Obama signed in 2010 in response to the Wall Street excesses that led to the recession.
The punchline:
“She’s absolutely wrong,” Mr. Obama said in the interview. “Think about the logic of that, right? The notion that I had this massive fight with Wall Street to make sure that we don’t repeat what happened in 2007, 2008, and then I sign a provision that would unravel it?” He added, “I’d have to be pretty stupid.”
One simply does not know how to respond here, because when Obama talks of a "massive fight" with Wall Street, is he referring to:
- the tens of billions in handouts handed to each and every bank, unleashing the age of socialized losses and privatized profits?
- the condification of the Too Big To Fail concept?
- presiding over a Department of "Justice" that openly admitted it would not prosecute certain bankers over fears of systemic collapse consequences, thus mathin up TBTF with Too Big To Prosecute?
- the implementation of Barney Frank which was supposed to rein in banks and instead had Citigroup lawyers and lobbysists write the language write the language in the Derivatives Swaps Out provision of the Omnibus bill as a result of $70.3 trillion in total Citigroup derivatives, which the bank knows will one day require another taxpayer bailout?
Needless to say we are very confused just which "unraveling" of Obama's "massive fight" with Wall Street the president is refering to.
As for Obama "having to be pretty stupid", we'll let readers decide that one.
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When Obama Talks About ANYTHING...
It's simple... He's lying!
That's all you need to know.
Shameless clown.
You've made the clowns weep.
"the implementation of Barney Frank which was supposed to rein in banks and instead had Citigroup lawyers and lobbysists write the language write the language in the Derivatives Swaps Out provision of the Omnibus bill as a result of $70.3 trillion in total Citigroup derivatives, which the bank knows will one day require another taxpayer bailout"
I think the author means Dodd/Frank, which was signed by Obama in 2010
I certainly don't want Barney Frank "implementing" me!!!
Nice catch! Yep, Bawney Fwanks implementing days are over thank God.
"My administration is the only thing between you and the pitchforks," the president told them.
http://blogs.abcnews.com/thenote/2009/04/obama-to-banker.html
(I'm sticking to MSM sources these days in order to avoid being labelled a terrorist...)
Beat me to it. Exactly the phrase I was thinking of.
What was not as widely known was Wall Street's reply to him: "and we're the only thing between you and a second term so shut the fuck up and do as we say. Bitch."
He meant he waved his hand while they jammed it down his ass. This is the best fight he can have anyway.
What is Obama talking about and WTF are you talking about ZH? If you both wanted to do more than pretend you have a problem with the banks & Fed policy talk about how the banks own the Fed you faggots. The banks create all the money as debt, thereby creating $1.04 in debt for every dollar.
The Fed has never blown or popped a bubble because of anything other than the banks wanting to rape you at that time. The Fed is nothing close to 'central planning' you fucking fruity asses.
If you are expected to believe a government can't issue credit North Dakota wouldn't be possible and you gold pumping doomsday idiots would never be told about it because it makes record low loans, has record high earnings, pays record high taxes, and your money in Germany or ND's public banks will be there after Federal Reserve notes become toilette paper and you're trying to buy food with gold bars.
https://www.youtube.com/watch?v=190gc933mv0
Now that he's got less than two years before he's out on his ass, Obama's probably finding it difficult to wet his beak on all the profits Wall Street is cashing in on.
Needless to say we are very confused just which "unraveling" of Obama's "massive fight" with Wall Street the president is refering to.
No Shit!
Tyler, just WTF do you expect when you totally lay out facts in a logical manner?
Clarity?
Get a grip buddy.
When it’s serious you have to lie.
-- Barack Warren Clinton Soros Buffet
"There Is One Set Of Rules For Politics, Another Set For Real Life, You Just Have To Learn To Deal With It"-- Hillary Obama
Wall Street reaped historic high bonuses during the Reign of Barry the Messiah while the Middle Class languished with higher taxes, bigger bureaucracy, a down grading of their medical care [if they can get it] and massive job cuts.
Wow that Obama is a swarthy John Wayne.
Do you think he REALLY believes this? I do. I think he has a total disconnect that borders on multiple personality schizophrenia.
He has been the most servile of any President I can remember
1. Record stock market on the backs of record inequality
2. Convincing people that "affordable" insurance is actually "affordable care".
3. Droning is worse than war for what it does to recruit Jihadis. For a Nobel Prize Winner that is shameful. Targeted assasination as foreign policy. Don't think he wouldn't kill PUtin if he thought he could get it done.
3. He got us Cold War II over Ukraine! Right on Russia's doorstep!
All done while castrating the left because he's "black". That's quite a record of going from bad to worse.
There are those who believe that Putin and China are "in" on the administration's NWO thing...
Caveat emptor.
The massive fight is over exactly how much he gets.
Pillow fight!
Pillow-biter fight
Want to know when "Hope and Change" was smothered in infancy ? When Hank handed our new Fearless Leader the Swiss Account numbers and some walking around money.
Next up will be a Charitable Foundation.
Dodd-Frank? No! Fraud-Dank
Obama was misquoted!
He actually said that he had a
"MASSIVE BITE of MICHAEL's MEAT"
He can't get Reggie a job with gold in sacks
Shameless cocksucking clown.
dont worry... the next cloun the tribe will put in will lie even more...
That would likely be Hillary, and you're absolutely correct. It's hard to believe that someday we'll pine for the days when Obama was in office, but we will.
That's what they said about Milliband too. Look how that turned out.
Irrelevance and outrage from the captured left sunk that battleship. Gonna be the same for Hillary. People aren't going to turn up to her events, walk door to door or write a check. Much less vote for her.
Just being a little to the left of the R's is what we got under President Peace Prize. Just because she has a gash isn't going to be enough to motivate anyone to pull the Diebold Slot Machine handle for the Senator from Walmart
Warren-being positioned as the anti-Hillary!!
In 2008, she headed the Congressional Oversight Panel for the Troubled Asset Relief Program.
http://www.biography.com/people/elizabeth-warren-20670753#synopsis
Would appear as though she had MUCH to do with TARP which started us all down the path we're now on. Wonder what exactly she got in return from the banks?
<< Wonder what exactly she got in return from the banks? >>
A batman T-shirt?
Warren=Obama=Wall Street, dey all boos. This is just spurious sideshow for populist kabuki.
Not a flattering photo of Senator Lenin.
Chief senator Lenin.
how is your cigar?
just fired up
a Cao Brazilia
thick chew handful of smoke ..
not bad for 3.$ a styck..
More evidence of the arrogant prick, telling you that he is smarter than you, so wtf how can you critisize ME? I AM THE CHOSEN ONE..
FUCK YOU SATAN, YOU ARROGANT PRICK INBRED HALF BREED MOTHER FUCKER
GOT NEWS FOR YOU 666, YOU ARE ON THE LOSING SIDE HERE, READ THE BOOK
WELLS FARGO BANK, N.A., as trustee for ABFC 2005-OPT1 Trust, ABFC Asset Backed Certificates Series 2005-OPT1 v. MARK A. LARACE and TAMMY L. LARACE
The show must go on! Warren is a lying currupt scum who will sell America out.
Bush/Obama/Warren/Rubio/Hillary/Jeb same shit.
They all need to be in prison waiting for a trial before the hanging.
I hope their children all get cancer!
Pocahontas is the true rebel and Obama true servant of Oligarchy.
I up voted that. Most ZH'erzz hate her because she's not perfect and poor. Good luck waiting, fuckers. Why don't YOU say something... oh wait you're tooo poor to be able to say anything to any more than a bunch of INTERNET posters. She Could be another Lindsey Gram who says nothing I believe.
It was a massive fight, he only gave Jamie Dimon the cuff links, and didn't even include the tie pin!
DELIVER THIS TO THE FOLKS
"Stop whoring for Wall Street"
http://www.showrealhist.com/yTRIAL.html
http://patrick.net/?p=1223928
Ushering in the era of socialized losses and privatized profits? What are you smoking, Tyler? That era began eons ago.
True, but it only became in your face, explicit, what're you gonna do about it plebe, since 2008.
The Liar in Chief actually believes his own bullshit........
Life in a vacume will do that.
Being a psychopath will do it too......
My take:
Bush was a psychopath - "Kill them all and let God sort them out"
Obama is a sociopath - "Let me pick and choose who I kill today for maximum political advantage"
Neither one of them lost a moment's sleep over the death of millions of innocents.
The only fight he has, is over who's pitchin' and who's catchin'...
Any 'massive fight' between Wall Street and DC is confined to the size of the lobbying pay off.
The WH has a "Massive Fight" with Wall St ????
Uughhh?
More like oBONGo's taken one too many "hits" of a bad batch - and gone full-hallucinatory-retard.
It was bound to happen - sooner or later....
Ha Ha Ha Ha, That WAS a good one! "Foam the Runway" Timmy led the charge! Eric "Pardon MarK Rich" Holder was ruthless! Why those banks so feared Obama they bought the Presidency for him, a very sneaky move...
I don't agree with Liz on everything either, but will take her claims over dronefinger in a heartbeat.
He is a proved liar and hyppocrite as is H for Hell Clinton and lying and hypocrisy are not the only things those two are guilty of.
Yep next to Hillery she looks ok. Side by side with Naomi ?
+ 10 for Dronefinger. Kewl !
Meh. Democrats, Republicans. Republicans, Democrats. No real difference. Both are corporate and neocon ass-kissers.
“The truth of the matter is that Elizabeth is, you know, a politician like everybody else,” Mr. Obama told Matt Bai of Yahoo News in an interview conducted on Friday at Nike’s headquarters near Beaverton, Ore. “And, you know, she’s got a voice that she wants to get out there, and I understand that. And on most issues, she and I deeply agree. On this one, though, her arguments don’t stand the test of fact and scrutiny.”
LOL
Pot meet kettle.
Let the kabuki farce roll.
Well if good old Friedman says this about TPP one has to be absolutely against it!!
"I strongly support President Obama’s efforts to conclude big, new trade-opening agreements with our Pacific allies, including Japan and Singapore, and with the whole European Union. But I don’t support them just for economic reasons..."
Didn't read any further than "Friedman says"
And after the 'deer in the headlights' there's a burning cross in the White house yard.
Obama is a sociopath. If he wasn't president he'd be a serial killer.
Why not both?
He IS a serial killer... How many people did get killed under his guard? My guess is it is easily in the thousands of civilians (drone strikes, CIA executions, police shootings, etc etc etc).
He comes by it honestly. His mom "worked" at USAID. Her "job": fingering leftists to be murdered when the time came to overthrow the civilian gov't in Indonesia. Peace Prize's stepdad? A guy named Soetero. He was the Eichmann of South East Asia.
I bet it was love at first sight.
Why don't any Leftists publicly oppose the Federal Reserve System?
After all, they claim to hate Wall Street, and the Fed is the absolute reason the 0.01% continue to see massive wealth in growth while the rest of the country has not.
The reason? Because the Fed, its printed money, its monetized debt, its fake interest rates - is the only thing supporting the massive, statist/progressive US Government.
Why don't any Leftists publicly oppose the Federal Reserve System?
There is no left or right but if you need an example for an answer:
Dealey Plaza.
Leftists?
Like Hollande, Hillary, Tsirpussy and Miliband?
If you think there is any hope for the leftists. This election in Brtain should put that to rest. And Hillary must be in shock on what waits in store for her.
Milliband? More like Meh-liband.
The left doesn't believe or fight for anything. They believe in the same fiscal austerity and corporate wellfare as the Right so they try to make the elections about social issues.
They are mush. It's why the SNP picked up all but one Labour constiuencies.
Can we be honest? The only group fighting back against Neoliberal/Necon = Neocolonialism are the Islamic Fundamentalists.
Even Putin is only going against it because they won't have him. NOt because he wants to ditch the system. He wants in, not out.
If you're still putting hope on :isms and ists," you should look under your pillow tonight for a quarter from the tooth fairy. Let us now how that works out.
Well there is the argument about Senator Warren and her accumulated wealth, but you have to go with what we have and she's it right now. She is the only one who's had a bird's eye view into the Office of the Comptroller of the Currency (OCC). Why do you think she didn't get the job as running the agency she helped create, the Consumer Financial Protection Agency.
She talked quite a bit about the "party" that goes on at the OCC, and if you are not familiar with the agency, they are one of the big bank regulators. They are supposed to verify business models that banks use, the math. By the way MIT is helping the agency with their math to hire Quants that are smarter than what we had for years that gave banks rubber stamps on their math.
http://ducknetweb.blogspot.com/2014/05/government-is-finally-hiring-some-data.html
Pay attention to Quants too as they are modeling the health insurance policies you buy today too. It was funny as Haim Bodek on Twitter recently made a comment that most of the quants he knows in HFT could very well be making a living helping defraud Medicare-great off the cuff comment.
http://ducknetweb.blogspot.com/2014/10/data-scientistsquants-in-health.html
Why do you think we have a dud running the CFPB? They wanted Dudly Dolittle and a guy that could fraternize with the banks and that's what we got, and he goes after some low hanging fruit to show he's doing something of course, but he has basically created a sharing site where consumers can bitch out how the have been wronged, BFD!
Here's what he really focuses on, buying our credit card data from a company called Argus to make another data base of how and where you spend money, your behavior etc. He's the biggest waste put in office. This is what the banks wanted to deal with the OCC, not Elizabeth Warren as folks would have to develop "some" accountability.
http://ducknetweb.blogspot.com/2014/08/argus-analytics-produces-share-of.html
Obama To Bank CEOs: "My Administration Is The Only Thing Between You And The Pitchforks"http://www.politico.com/news/stories/0409/20871.html
This Kenyan homo thinks he is a tough guy. He should have WELCOME tattooed on his forehead for how he lets the elites walk all over him.
I can't wait to see him out on the gravy train peddling this shit when he is out of office. He will be heckled back to Reggie's pole
I lost any tiny shred of hope for Warren when she said she didn't want to audit the Fed. Next....
As for President Peace Prize. If TTP is such a boon for the working man, let's see what's in it.
The fact you have to wear a Hazmat suit and be a congress whore to even see portions of it tells me get ready for the last buttfucking Joe Sixpack and Sally Housecoat
1. Corporate Trade Tribunals can decide potential lost earning income penalties for local legislation
2. Regulation of the Internet
3. Extending trademark and patent laws to make new medicines and technology exorbitantly expense for the common man
4. Local labor and environmental laws shredded or made irrelevant by #1
5. Buy local programs will be made illegal
As I see it there are only benefits WHEN this law is passed (Pelousy and Cyclops Reid have already whip counted enough Dumbocrats to vote yes):
A. Bye bye Hillary's chances for the White House
B. President Peace Prize will be a pariah on the rubber chicken circuit. Maybe he can go learn to paint water colors with Shrub somewhere in Texas
If she wants to play the guilt-by-association game, Professor Warren should begin by quitting her $350,000-a-year job at Harvard, where she is the Leo Gottlieb Professor of Law. That chair was endowed in memory of Mr. Gottlieb by the law firm he founded, the high-powered Cleary Gottlieb, which is not primarily in the business of helping middle-class Americans secure their legal interests against the dreaded 1 Percent. Instead, these lawyers make their living in part by helping multinational banks that profited from the Bernie Madoff fraud avoid paying compensation to Madoff victims. Professor Warren, a critic of cozy ties between regulators and industry, surely will be fascinated to learn that in the interest of maximizing its expertise in the finer points of such securities law, the firm went so far as to hire the former general counsel of the Securities and Exchange Commission — a man who resigned from the SEC after being sued by Madoff victims over $1.5 million in Madoff money that ended up in his pockets and those of his siblings. The SEC lawyer and his siblings later turned the money over to Madoff victims in a settlement.
Practically all of the exotic structured-finance products you hear about exist as a direct response to regulation. That being the case, they are not the product of financial engineers only: They are the result of a collaborative effort between financial engineers and Wall Street lawyers. Professor Warren gets some financial support from the former and a hell of a lot from the latter. While I very much doubt that the ghost of Leo Gottlieb or the guys at Mintz Levin would be calling the shots behind the scenes were Professor Warren elected to the Senate, until she is willing to extend the same assumption of good faith to her opponent, she should be held to the standard she sets for him. In which case, we must conclude that the candidate of Occupy Wall Street is also the candidate of Wall Street — which, given the left-leaning, pro-Democrat, bet-hedging nature of the Manhattan-based financial world, is no surprise.
Fighting with somene can be quite different to fighting against someone. To wit the virtually non-existent number of Wall Street crooks doing jail time.
Poor old Warren though is wasting her time. Hillary has her tentacles wrapped so tightly around the Democratic nomination that it isn't even funny.
When O'Bummer refers to the 'massive fight' he had with Wall Street he means the fight he had coercing Wall Street into donating to his campaign to oust the Retardlicans from the Whore House in Washington DC. After thinking it through they opted to help place an African American(?) in office figuring that no white Jewish girl would be giving him blowjobs in the Oral Office if he was elected. And like Martha Stewart always says....
"that's a good thing", America!
G.E. used to make things like nuclear reactors. Now they write tax code for a living. Remember that the jobs tzar (jeff immelt) answers to the tax attorney Peter Lanza.
Immelt is such a whore, I agree, wisefool.
Whenever I see Elizabeth Warren my mind wistfully wanders back to one of those one-room schoolhouses out the praire - like something outta "The Waltons" - with Miss Warren as the "respectable" School Ma'am - strict, but fair; prim & proper, yet not beyond "accidentally" flaunting a bare ankle; a "disciplinarian"... with hints of "steamier" side...
But I digresss.....Yes, I'm sure Lloyd, Jamie & co. must be terrified of Ms Warren - especially if they have dirty fingernails in her presence...
First woman in history who forced the bar commisioners to allow breast feeding breaks during the exam. True story!
...whereas Hillary lobbied exclusively for "rug-munching" breaks.
You can not make this stuff up folks, unless you have a tax LLM and "the suitcase"
FWIW the new crypto currency can be formed by placing bets against Billary. Let the vegas boys die of thirst. Amatuers.
Was your old school marm married to a Jew?
No, not exactly... though she reportedly did have a "dalliance" with a HinJew from Calcutta - had a thriving curried gefilte-fish business, by all accounts..
Okay, so two articles within 3 hours on ZH that should have brought out the trolls, but nothing big in the way of coments. Something's going on, and I'll give 3 suggestions:
1.) The Clinton campaign and the WH don't really feel ZH readers amount to much and don't need to do any damage control for ZH hosted articles (if this article had been on USA Today or Politco's websites, the defenders would have been 2 to 1 on comments.
2.) The articles are too wonkish and won't be read by low-information voters, so who cares?
3.) It's Mother's Day in the US and no one is reading blogs because they're doting on dear old Mom.
Strange, any way you slice it.
burp
terribly sorry madam fermenting beans in my rotten guts
what does it mean
jewish david cam moron nice boy but dim
talked about his favorite sock her football ball sport team last weak.
the problem was he talked of a london team rather than one hundreds of miles away.
miss directed energy these clowns are like big brother electrical image on loop.
look at obarmy look and clintons do you really think they have diplomatic skill.
they are the nice gentle rapist that says sorry after you have been analised.
the rabbi holding the cock and balls directing the show those brookings,cfr chatham house guys are the producers of this pixelated temporal illusioned video nasty
That Bloomberg headline is meant to sell papers. Just like last summer when they had all those Putin is Evil photos on Time, Snoozeweek, etc.
The bogey man argument.
The only people I know who still read Time magazine are those at the dentist's office whose phone is out of juice.
I would personally beat the bitch (at least) half to death...
And it wouldn't even be a 'thing'.
What a fucking punk..
All you libtard bitches belong to the State.
As WHORES.
But thats what you like, right?
Bend over then dumbassed sluts because if its getting FUCKED that you like then you're about to get THAT real hard.
And don't cry to 'Daddy' when you change your fucking mind.
A pillow fight at Lloyd and Jamie's "awesome" slumber party?
Fauxcahontas is going to scalp Obama 'cause she is an Americaqn Indian. Thats how she got her job at Harvard because her "law" credentials are very average,
kabuki theater for the masses.
Stop money printing by the Fed and lets see how these affirmative action, mental feckin' midgets perform. Lets see how they stay alive. Its coming.
He is paving the way for the next crime boss repulican or democrat, Pesi or coke, what differance does it make?
Is Bill Clinton a rapist?
Yes - ^
No - v
“I’d have to be pretty stupid.” ..... yup, and ya cant fix stupid