Wall Street benefits as result of Democrat's CRA meltdown
I was sent an email by a chummy liberal complaining about bonuses on Wall-Street. That is not the cause of the problem, that is the result of the problem. When the Democrats and their revamped C.R.A from the 90's started to kill off lending institutions because housing values began to dip, many people started to sell their stocks. This accelerated when it became apparent that Obama was going to win the election. Everyone said to themselves: Is there hope that the stock market will do well with a socialist in office: nope. Nope to hope, Nope to the dope in the oval office So the result, although fueled by some logic, and much emotion, was a dip of the stock market by 40%. I lost more than half of everything I had in there. I only sold a few stocks in time, the rest I let ride, especially since it is in mutual funds. Perhaps I should have more control over those, more visibility.
So when all this happened, all that selling provided huge commissions to traders. That's the result of the mess, not the cause. Thus the bonuses. In another year you will see those commissions and bonuses drop dramatically, because there is little left to sell, thanks to the Democrats. I personally think the whole thing was timed as a way to get Obama elected, not that it was avoidable, but perhaps it was delayed and exasperated by insiders close to the Democrats. In case you haven't noticed, Wall Street always votes for and donates to Democrats. Why? Politics makes strange bedfellows. Both institutions are fueled by emotion and illogical behavior.
Check this out:
This is typical of the Democrats.
5. Senate Democrats Add Absurdities to Obama's Spending Plan
The list is extraordinary and mind numbingly stupid. And how exactly does any of it create new, sustainable jobs?
$20 million "for the removal of small- to medium-sized fish passage barriers." (Pg. 45 of Senate Appropriations Committee report: "20,000,000 for the removal of small- to medium-sized fish passage barriers)
$400 million for STD prevention (Pg. 60 of Senate Appropriations Committee report: "CDC estimates that a proximately 19 million new STD infections occur annually in the United States ...The Committee has included $400,000,000 for testing and prevention of these conditions.")
$25 million to rehabilitate off-roading (ATV) trails (Pg. 45 of Senate Appropriations Committee report: "$25,000,000 is for recreation maintenance, especially for rehabilitation of off-road vehicle routes, and $20,000,000 is for trail maintenance and restoration")
$34 million to remodel the Department of Commerce HQ (Pg. 15 of Senate Appropriations Committee report: $34,000,000 for the Department of Commerce renovation and modernization")
$70 million to "Support Supercomputing Activities" for climate research (Pgs. 14-15 of Senate Appropriations Committee Report: $70,000,000 is directed to specifically support supercomputing activities, especially as they relate to climate research)
$150 million for honey bee insurance (Pg. 102 of Senate Appropriations Committee report: "The Secretary shall use up to $ 50,000,000 per year, and $150,000,000 in the case of 2009, from the Trust Fund to provide emergency relief to eligible producers of livestock, honey bees, and farm-raised fish to aid in the reduction of losses due to disease, adverse weather, or other conditions, such as blizzards and wildfires, as determined by the Secretary")