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This is an interview with an unnamed Wall St. figure who was involved with Obama & Jarrett in a meeting with other Wall St. people.
The interviewer has done a number of these interviews that I have read that goes back to Aug. 2010 - mainly with a person (at least one) with White House Access. This includes an interview that was posted here about Leon Panetta calling the shots in the killing of bin Laden.
The one thing that's consistent is Obama is NOT running the show - Jarrett is calling the shots.
Well, now it was the president’s turn to speak. To give some of his own input and reaction to what others had been saying. He didn’t stand up. He didn’t even straighten up in his seat. President Obama just turned to his left and said, “Valerie?”
...
He turned to Valerie Jarrett, and then Ms. Jarrett proceeded to explain the president’s positions. But the president was sitting right there. It was surreal.
The other thing to note is how the General Motors deal was viewed by Wall St.
Quote:
That’s right – that deal…that horrible-horrible deal. Pennies on the dollar. Take it or leave it. The threats leveled against the bond holders, the management firms…it really shook us up. All of us. Every one of us who work in this environment – the government just came in and for all intents and purposes, took over. The law be damned. The bond holders were pushed aside – illegally mind you, totally without legal basis… and the keys to that company handed over to the labor union. I am going to remain calm…trying to remain – respectful…but what happened at that time was…it should have never happened. Never. Not in this country. Venezuela perhaps – but not here. That equity conversion was a farce. The default swaps…they were rightfully in line. The law – in court the law would have been on their side. They walked those poor people out onto the plank. I’ve seen those tactics done before, but never by the United States Government. Not on that scale. Never. And what that deal did – the auto bailout…it wasn’t a bailout though. It was a takeover. That scenario sent tremors throughout the entire financial community of this country…and the world. All of us – well I can’t speak for everyone of course…but every single one I know of, we were left stunned. And then afraid.
An empty shell that Wall Street is happily dumping campaign money into. It's almost as if he's giving them what they want.
FYI - from the interview...
Quote:
Wall Street: Yes…I believe most people who I associate with professionally did support Barack Obama for president. Wall Street tends to be…it is based in New York after all.
Ulsterman: Liberal?
Wall Street: Pardon?
Ulsterman: Liberal? Wall Street tends to be more liberal in its politics?
Wall Street: Wall Street – in my experience…Wall Street…yes, Wall Street tends to be more liberal. People tend to favor Democrats over Republicans. I think that would be a pretty accurate assumption.
Anonymous sources are naturally viewed with suspicion, but the interview subject absolutely nailed the auto takeover and its ramifications. It rings true, sounds authentic to me. And it is scary.
Anonymous sources are naturally viewed with suspicion, but the interview subject absolutely nailed the auto takeover and its ramifications. It rings true, sounds authentic to me. And it is scary.
The real empty shell is the wall street itself. Obama will sonner or later leave, but we are stuck with wall street for a lonnnngggg time. I wish we could replace all these guys and their ways once every four years.
Did you read the article? Do you understand that secured lenders to Chrysler and GM bondholders were arbitrarily stripped of their property, so that ownership of the means of production could be transferred to the UAW? Do you understand where the money comes from to build factories, buy tools, and make payroll? Or have a clue why business conditions and employment remain lousy to this day?
Did you read the article? Do you understand that secured lenders to Chrysler and GM bondholders were arbitrarily stripped of their property, so that ownership of the means of production could be transferred to the UAW? Do you understand where the money comes from to build factories, buy tools, and make payroll? Or have a clue why business conditions and employment remain lousy to this day?
Of course I understand how bankruptcies play out.
So what's so scary about still having an auto industry?
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Anonymous sources
