brokerinbirmingham

Obama's New Wall Street

My only problem is with BHO restriciting the free flow of capital (human and financial) to where the free market and human freedom of choice in occupation want to go. If poeple want to get rich doing transaction as opposed to writing computer code, who is he to say no? Do we live in the USSR now? Does he have the constitutional power to restrict the pursuit of happiness wherever (legally) one might pursue it? I think he does not. I think BHO is meddling in private enterprise far more dangerously than even FDR would have done. I wish I were as presbyopic as you guys who know exactly where to put people. Since I make my living based on transactions, it would be foolish of me to say my occupation is worthless. Or, do you mean that people who trade for a living do not contribute to the economy? I mean, a transaction is a connection of a seller and a buyer - whether it's a car, a house, or a stock. And that's worthless to you? Well, I'll take my worthlessly profitable transactions and commit them in another country. Seems like every country wants to be a hub of these worthless transactions - London, Frankfurt, Tokyo, Dubai, Zurich...wonder why. Oh, that's right! Capital gains! Commissions! Fees! Worthless crap. I agree. My bad. Too bad there won't be a banker to lend me money for my new home, or a real estate agent to help me sell my old home. THey gave up on worthless transactions business and started writing computer code.

Obama's New Wall Street

Interesting that BHO believes his policies can gut the financial industry talent (to say nothing of the sector's ability to offset risk by dirivative trading) and yet it stays competitve. One wonders, what if we apply the same ideas to the tech sector. Let's say we tell the bosses of MSFT, DELL, CSCO, and ORCL, "we're going to kill your profit motive, but hey, you'll still be competitve. No more multi-millionaires for you, but I'm sure you'll always attract the top talent. Don't worry, if you make too much money we'll be there to skim it off the top for you. And we've got these great bureaucrats to help you engineer the best technology in the world. They know jack sh-t about computers, but they did raise money for my campaign, so they're qualified." The thought makes my leg tingle. Oh wait, that's no tingle, it's BHO trying to pick my pocket again.