First, the tax cut compromise. then, hiring Bill Daley as chief of staff. now, a government-wide...

First, the tax cut compromise... then, hiring Bill Daley as chief of staff... now, a government-wide review to "root out... excessive, inconsistent and redundant" regulations "that are not worth the cost, or that are just plain dumb." Is President Obama becoming Wall Street's best friend?

Comments (26)
  • new slang
    , contributor
    Comments (175) | Send Message
    Rooting out excessive, inconsistent and redundant regulations that are not worth the cost, or that are just plain dumb is a Wall Street special interest now?
    18 Jan 2011, 06:17 PM Reply Like
  • cbc
    , contributor
    Comments (411) | Send Message
    That seems like that is in all our interests. I do not like the copy here either.
    18 Jan 2011, 07:30 PM Reply Like
  • Fr33f0rm
    , contributor
    Comments (300) | Send Message
    It seems frighteningly likely that the cuts in red tape will be well intentioned, but like many of Obama's moves, have disastrous unintended consequences.


    If he follows the mantra of the last democratic president then he will destroy Glass-Steagall entirely and take out the legs of the manufacturing economy to give the U.S. short term relief and the stock market a short-term bump.


    Feel free to kick the can down the road Obama...anything to avoid wearing the Herbert Hoover mantle. Who knows, he might be more afraid that, being the first black president, if he doesn't provide growth, be it imaginary or real, then he could harm the chances of a black president in the near term.
    18 Jan 2011, 09:41 PM Reply Like
  • SSALarry
    , contributor
    Comments (235) | Send Message
    If the President is really worried about jobs, perhap he could have his State Department approve the pipeline that will run from the Canadian Tar Sands to Oklahoma and then down to the Gulf. The pipeline would create 10's of thousands of jobs, but the State Department, which has sat on the approval or rejection for months, can't seem to make a decision.
    18 Jan 2011, 06:22 PM Reply Like
  • theboys
    , contributor
    Comments (95) | Send Message
    I believe John Hofmeister said the other day that if the US would commit to increasing drilling he is certain that 3 million good paying jobs could be created in that industry to meet demand. The oil demand is rising even while we search for alternatives to oil. And yet oddly, the US invests in Brazilian oil to the tune of 2 billion.
    18 Jan 2011, 09:37 PM Reply Like
  • JJA1594
    , contributor
    Comments (67) | Send Message
    Sounds like a False Flag Operation.
    18 Jan 2011, 06:28 PM Reply Like
  • wyostocks
    , contributor
    Comments (9113) | Send Message
    Remember, actions speak louder than words.
    18 Jan 2011, 06:33 PM Reply Like
  • Bouchart
    , contributor
    Comments (1099) | Send Message
    Nobody bureaucrat is going to find any redundancy, because that means that some bureaucrat's job is redundant.
    18 Jan 2011, 06:36 PM Reply Like
  • theboys
    , contributor
    Comments (95) | Send Message
    If they really wanted to find that redundancy they would hire outside sources to come in without any emotional attachment and start cutting. In the private sector I have seen this work well. I once worked for a big pharmaceutical company that was employee heavy and just wildly spent money. Those bean counters interviewed all the employees, and systematically went about reducing the size of that company. The truth is it hurt, but the truth is after a short time nobody missed what was gone. It was just different. One thing it really did was put people on their toes.
    18 Jan 2011, 09:40 PM Reply Like
  • davidbdc
    , contributor
    Comments (3194) | Send Message
    Obama knows his only hope for re-election (and isn't that what almost 99% of the politicians care about) is for the job market to make a big swing over the next 18 months. No jobs recover, no chance of a second term (unless he's running against Palin that is).


    And I completely agree with the previous comment that leaving it to bureaucrats to find redundancies is the fox guarding the henhouse.
    18 Jan 2011, 06:47 PM Reply Like
  • kmi
    , contributor
    Comments (4579) | Send Message
    out of curiosity, are you suggesting the new republican appointees will bear no responsibility for jobs? my guess is both parties will blame the other if jobs dont recover and take credit if they do.
    18 Jan 2011, 08:16 PM Reply Like
  • theboys
    , contributor
    Comments (95) | Send Message
    The president is taking this year to side with Republicans. He is throwing his supporters under the bus for the time being. He will track back when the coast is clear.


    The government can't create private sector jobs. The jobs haven't been created ONLY because demand was weak and there is much confusion about how the landscape will look in the next couple years. The balance of power off to the left was too much for the country and so now there is a bit more balance and people prefer that. That doesn't mean things will get better. My bet is that things will look better for a while, but really the foundation is crumbling. We aren't addressing debt on any level, and this health care mess is just that. Our demographics will continue to put downward pressure on the US. It was the baby boomers that spent the most dough and now they are either jobless, or underwater with the one or more mortgages, retired, or strapped for cash.
    18 Jan 2011, 09:46 PM Reply Like
  • The Geoffster
    , contributor
    Comments (4291) | Send Message
    The Americanization of Barrack, The Commie who Came In From the Cold, or Liar. Liar?
    18 Jan 2011, 06:50 PM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
    with health care adding thousands of regulations...and the Dodd-Frank adding a thousand more...and the EPA going to regulate CO2.....etc etc...who is he trying to fool.....
    18 Jan 2011, 07:09 PM Reply Like
  • Power Hedge
    , contributor
    Comments (1111) | Send Message
    Probably the American people. This is probably just a distraction attempt. People will be back to apathetic, reality-TV loving Americans in a pretty short period of time.
    18 Jan 2011, 07:16 PM Reply Like
  • Hoopono
    , contributor
    Comments (381) | Send Message
    It's not likely he will ever become Wall Street's Best Friend, but if he is sincere and removes most of the barriers to creating jobs for Americans he has a shot at losing Wall Street's Worst Enemy status.
    18 Jan 2011, 07:20 PM Reply Like
  • The Geoffster
    , contributor
    Comments (4291) | Send Message
    "Hope and Change" was code for European social statism, but the economic collapse squelched the plans to tax the productive for the benefit of the parasites. Obama hasn't changed his stripes, he's just proving to be more pragmatic.
    18 Jan 2011, 07:39 PM Reply Like
  • beaux
    , contributor
    Comments (202) | Send Message
    A virtuoso political performance: Bravo! Ausgezeitnich! Que bueno!


    On display now: The elasticity of principles in the face of re-election risk.
    18 Jan 2011, 07:54 PM Reply Like
  • hayekvonfriedman
    , contributor
    Comments (1003) | Send Message
    I get it, where's the camera, what's the joke? Obama is a Saul Alinsky socialist/Marxist. Anything he does is right out of the book. He will say anything and use any means to accomplish his end...among then are the total and complete destruction of free enterprise, the profit motive, the mother's milk of capitalism.


    Is this an olive branch or a Trojan Horse to get us feeling all sheepish for dismantling his illegal health care guess only.


    How long does it take some people to get the truth. The fact is you all know that he will never be a friend of capitalism or even an ally. People aren't as stupid as most in Washington and at CNBC.
    18 Jan 2011, 08:51 PM Reply Like
  • D. McHattie
    , contributor
    Comments (1844) | Send Message
    "[E]xcessive, inconsistent and redundant" regulation?


    Like when Clinton, Rubin, Summers, Greenspan and countless Republicans in the Congress and Senate eliminated that 'excessive, inconsistent and redundant' reg called Graham Leach Bliley?
    18 Jan 2011, 08:52 PM Reply Like
  • nyuszika45
    , contributor
    Comments (625) | Send Message
    Doesn't anyone recognise the Magician, here? As noted obliquely above, he wants us to watch this (mouthy) hand while the other one is adding layers of garbage regs to tie up any chance of real progress.


    New words, same melody as we've heard for over two years, now.
    18 Jan 2011, 09:02 PM Reply Like
  • Fr33f0rm
    , contributor
    Comments (300) | Send Message
    I think that we can all agree that Obama's actions will be polarizing if he follows through on this promise.


    I just hope that he does his research to understand how slanted the economy has become. If he eradicates regulation in the financial sector we will surely see a double-dip with disastrous results.
    18 Jan 2011, 09:32 PM Reply Like
  • Ray Merola
    , contributor
    Comments (6467) | Send Message
    It's called self-preservation. Obama knows to have any chance of re-election, he must move to the right.


    Since he and his staff never ran anything, never met a payroll, and have little to no business experience; the Administration has begun to learn the fundamental principle that businesses creates jobs, and jobs create votes, and votes are required for them to retain their political fortunes.


    Turns out making businessmen out to be villains is a sucker's bet in America. Ask George McGovern.
    18 Jan 2011, 09:45 PM Reply Like
  • Wyatt Junker
    , contributor
    Comments (4498) | Send Message
    Indeed. The level of schoolboy retardation on how the world works is amazing to behold, and even the about face has the element of tired theatrics. Other countries must look at us and shake their head that a child sits in the Oval Office. Oh, but that's what they said about Bush da shrub. *chuckle*
    18 Jan 2011, 10:50 PM Reply Like
  • bdarken
    , contributor
    Comments (645) | Send Message
    He lost our trust.
    BP just waived goodbye---gone to russia.
    China snickers at us.
    Next will be the bond traders shrugging until interest rates rise enough to make it worth their while.
    We are looking at perhaps the worst President in American history.
    19 Jan 2011, 12:16 AM Reply Like
  • nyuszika45
    , contributor
    Comments (625) | Send Message
    I take it all that "hope and change" aren't settling well, then?
    19 Jan 2011, 10:01 AM Reply Like
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