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FOREST BROWNE

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Obama: Reappraise Wall Street values

News Type: Event — Seeded on Mon Sep 17, 2007 11:46 AM EDT
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Democratic presidential candidate Barack Obama told Wall Street investors Monday that several of them have been too focused on their own gain at the expense of struggling Americans and echoed Franklin Delano Roosevelt's call for a "reappraisal of values."

"The danger with this mentality isn't just that it offends our morals, it's that it endangers our markets," Obama said.

Economic experts including former Commerce secretary Bill Daley, former Fannie Mae CEO Jim Johnson and University of Chicago economist Austan D. Goolsbee helped Obama with the speech, which risks alienating some Wall Street supporters. But Obama said in a recent interview with The Associated Press that he is determined not just to campaign by telling people what they want to hear, but to win support for an agenda for change.

This may be the most impressive speech I've heard Obama give when concerning real change. Up until now I haven't been sold on the fact that he has a strategy, but this seems to show not just long term thinking, but a real tactical air about how to accomplish change.

Forest

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{"commentId":1030200,"authorDomain":"ForestBrowne"}
Forest Browne

My problem with Obama has always been "how", finally a picture of a plan is starting to solidify, and I'll be watching.

Forest

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  • 2 votes
Reply#1 - Mon Sep 17, 2007 11:47 AM EDT
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D-596467

As noted above, Obama's economic experts include Jim Johnson:

Jim Johnson - A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO. A look at the Office of Federal Housing Enterprise Oversight's May 2006 report on mismanagement and corruption inside Fannie Mae, and you'll see some interesting things about Johnson. Investigators found that Fannie Mae had hidden a substantial amount of Johnson's 1998 compensation from the public, reporting that it was between $6 million and $7 million when it fact it was $21 million." Johnson is currently under investigation for taking illegal loans from Countrywide while serving as CEO of Fannie Mae.Johnson's Golden Parachute was estimated at $28 Million.

A "reappraisal of values"??? His advisors also include former Fannie CEO Franklin Raines. Who overstated earnings over six years to the tune of $9 Billion. His Golden Parachute: $240M. He was ordered by the courts to give back $50M. In three years as Senator, Obama is 2nd on the list of campaign contributions given by Fannie Mae over the past ten years. His economic change is being led by the folks that caused the problem.

I was supporter of Obama, but the more I reasearch what he says, the more I find he is nothing but a good salesman. He is a great talker that will probably increase worlwide opinion of the US. He has great charisma, but at the end of the day no experience. In three years as a Senator, he has spent two of them campaigning to be President.

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    Reply#2 - Tue Sep 30, 2008 4:54 PM EDT
    {"commentId":3252188,"authorDomain":"ForestBrowne"}
    Forest Browne

      Do you have a name, or do you just want to be known as a number?

    Frankly it's not my job to sway your vote and I won't try except to say that no matter what after the last eight years I just want someone in the white house who has a brain and can understand complicated concepts from the get go. McCain's educational background is suspect to say the least and with him picking Sarah Palin to be his VP with his poor health problems the idea that she is "his" heartbeat away from the oval office is more than can be bared, beyond the pale of conception.

    Forest

    {"commentId":3252188,"threadId":"151381","contentId":"967528","authorDomain":"ForestBrowne"}
    • 1 vote
    Reply#3 - Wed Oct 1, 2008 10:24 PM EDT
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