PrintAugust 14, 2009
Obama's Pitchforks
"My administration is the only thing between you and the pitchforks" -- Barack Obama, meeting with the CEOs of the nation's 13 largest banks, Mar. 27, 2009Today, the only thing between the President and members of Congress and the Obama's metaphorical pitchforks is the restraint and good character of the American people. We're upset. A wave of populist resentment is growing.Start with the $700 billion bailout of the banking industry last October, featuring the hysterical shrieking of the Secretary of the Treasury. Former Goldman Sachs CEO Henry Paulson's hysterical behavior caused the bottom to fall out of the markets. Business froze. People were transfixed. What did he say? The system is crashing? I don't see that in my business. Two weeks later they did as wallets slammed shut all over the world. Nothing will close a wallet faster than a cry of panic from the Secretary of the Treasury of the United States of America.Stock markets crashed. Retirement portfolios nuked. The...(Read Full Article)
