"Obama MUST Appease Wall St." - Even NPR Says So, Like No Explanation Needed???

[snot]

I heard this several times today. Ok, so a lot of us here on DU may assume he's owned; but is THAT what NPR's taking for granted?

It's not like the Wall St. population can outvote the rest of us. And the context didn't sound like they were referring to a worry that if Obama does the wrong thing, the stock market will crash.

Like, what's NPR's understanding of why Obama MUST appease Wall St.?

[ProudToBeBlueInRhody]

1. NPR is a joke

They are trying to appeal to a group of people who don't and will never listen to them.

[EFerrari]

5. Yep.

And Wall Street doesn't have to outvote us, they can outspend us and we wind up voting for one of their two candidates.

[Junkdrawer]

11. ...but who now pay the bills....

"Don't worry, corporate advertising wont change NPR..."

[Political Heretic]

2. It's "common sense"

according to them.

[nadinbrzezinski]

3. He threatned to break the banks the other day

that won't happen, but they need to be appeased now.

[sandnsea]

4. So he's been ratcheting up the pressure - why??

"Then, late in December, the President met with community bankers who largely support the financial regulatory package and are important to the recovery as they make up 50% of loans to small business. These small banks are also under pressure from the larger American Bankers Association for not fighting the House regulation bill.

As tensions mounted and the banking industry continued to ignore the Administration’s requests to limit excessive bonuses and spending, the President announced a bank fee would be imposed to guarantee the collection of “every single dime the American people are owed.” Word of the fee leaked out as early as Jan 12, three weeks after the President’s meeting with community bankers.

Less than a week after the Jan 14 banking fee announcement, the President pressed on and announced his intention to implement what has come to be known as “the Volcker Rule”, separating the service and investing side of Wall Street firms. A White House official said both Tim Geithner and Lawrence Summers worked closely with Paul Volcker and that “The plan was submitted to the president with a unanimous recommendation from the economic team.” While Geithner expresses concerns about its necessity and effectiveness, one can’t help but wonder if this is not an expression of the President’s exasperation with these banks and a not so subtle reminder that there is much more the President can do if the banks continue to choose risky ventures and excess over responsibility."

http://obama-mamas.com/blog/?p=1078

[OHdem10]

6. Corporatism--the Merger of Government and Business.

Wall Street are the most important players in business. If a President
does not please them, they begin to fluctuate. Media starts harpting
on the President. Investors big and small do not like fluctuating
Markets. How often do we hear--How does Wall Street like this.

Since Wall Street is in the business of making money and have been
given the power, they want policy which advantages them. Because
of their power they pretty much get what they want.

[Phlem]

7. Good Eye Broahh!!!

Nice flag on NPR, Last I heard the person running PBS was a shrub plant, no pun intended, hope they're mitt's aren't on NPR too.

-phlem

[TheWatcher]

8. Well, most of the public is either Clueless or in terminal denial, so why not just say it out in

the open?

Why not just tell us how things work?

Why not be blatant?

It's not like we're going to rebel or do anything about it.

What with the new American Idol to consider, all those rumors that Simon is leaving, and having only a precious two weeks to "Get Ready For Some Football".

We have to focus on the important things.

That other stuff's just too hard.

And all this talk about Obama getting tough on banks?

For right now, it's just talk.

And from what we have seen so far, that is likely all it will ever amount to.

I WANT to be wrong about that. And so does every single person on this board who has been critical of him, despite what the Rose-Colored Gatekeepers think.

We WANT him to succeed. We DO NOT want to be turned back over to Republican Rule. This country CANNOT and WILL NOT survive that.

WE WANT what we VOTED for. WE WANT to be REPRESENTED.

Whether we get it or not?

Well, that is up to actions, not words.

[snot]

15. Agreed!

[Peter1x9]

9. Plutocracy

NOUN:
pl. plu·toc·ra·cies

1. Government by the wealthy.
2. A wealthy class that controls a government.
3. A government or state in which the wealthy rule.

[Enthusiast]

10. NPR used to be a quality

source of news and information, no longer.

I am often so disgusted by their right wing spin that I have to turn it off.

When Juan Williams is the token "liberal" in a group of four conservatives how is that different than Faux Noise, other than being less shrill?

Listen folks, this country is in deep trouble and it starts with how the flow of information is controlled.

[Carolina]

12. the P in NPR no longer stands for PUBLIC

[sendero]

13. Did you not notice...

... the market went straight down when it was announced that Bernanke was not a shoo in?

And that as soon as he was announced as a shoo in, the markets recovered?

Wall Street IS running the show. The markets are not trading like they are supposed to, with people buying stocks based on a company's earnings outlook, stocks are being gamed by the big IBs who now make of the majority of all trading volume.

The CAN crash the market and they WILL crash the market if they don't get what they want. The only way to counter this is to tell them "go ahead" and then they will have little leverage, but Obama doesn't seem like a tough man to me.

As for Obama's newfound desire to reinstate Glass-Stegal type reforms, well he's had a year and he hasn't done JACK SHIT. I will believe it the day it is signed into law and not before.

[snot]

16. So you think NPR is implicitly acknowledging that Wall St. is successfully

extorting compliance from Obama by virtue of an implicit threat to deliberately crash the market if he does something they don't like -- not bec. it's bad for the economy, but bec. it might cut into their bonuses?

[Leopolds Ghost]

14. Because NPR has the same responsibility and expects Obama to share it. n/t