Cramer of MSNBC fame, blasts Obama's "hatred" for stockholders on Wall Street. He points to the fact that there are others who profit from stock sales and investment than those at Goldman/Sachs. Unions invest to enhance retirement funds; the individual civilian population funds college for their children as well as personal retirement funding; businesses gain working capital from "going public" and profits are made that lift the standard of living for millions of Americans.
Earlier last year, Cramer was openly critical of the Novice Economist in our White House and was forced to apologize. This video assault is even more involved than Crammer's previous attack. We do not see Mr. Cramer backing off this recent criticism.
Bloomberg Financial has recently reported that 77% of the business community sees Mr. Obama as anti-business. Think about that characterization just a bit --- "anti-business." Wall Street is woven into the financial fabric of this country. It is not easily subdued and Obama is being taught this lesson. He is Wall Street's greatest presidential adversary, bar none. Carter was of the same mind set but without the ability to do much about his anti-capitalist bias.
Money makes the political world go round and the anti-Obama war chest is about to reach record funding. His confrontational nature makes for a perfect target in the coming elections, both mid-term (2010) and presidential (2012).
In his takeover of GM and Chrysler, Obama destroyed the retirement funds of police and teacher unions that had invested in these auto companies as primary stockholders. Their investments were protected with this designation and they were to be paid first should a bankruptcy become a reality. Instead, Obama forced a shareholders agreement that depleted these unions of their increases. These funds wound up with 30 cents on the dollar resulting in millions of lost revenues. Midknight Review that this action is not lost on those who were ripped off by Obama.
cramer, evil stockholders, Goldman/Sachs, Wall Street
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