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Politics : Formerly About Advanced Micro Devices
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From: RetiredNow3/14/2014 1:18:30 PM
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Post below is a response to Sam's post
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I don't doubt that the rich have done better under Obama than the middle class. But that has been true since the 70s, and especially since the Reagan administration dramatically flattened the tax curve. And the "Greed is good" slogan became firmly embedded in popular culture.

Sam,
do you know why the rich's wealth has accelerated under Obama? It's because of the Fed policies and his own crony capitalism. The Fed's QE and ZIRP are at the epicenter of policies that quite literally rob from the 99% to give to the 1%. I know, because I'm a major beneficiary of these policies, and I don't think it's right. It's not capitalism that is at fault. Capitalism works, but we need proper government laws and regulations and we need a Fed that does not try to centrally plan the economy. The Fed only cares about recapitalizing the big banks. They don't care about the 99% and never have. Words are cheap and actions speak much louder than words. And Obama is absolutely complicit in all of this. He reappointed Bernanke and then appointed Yellen. He loves their policies. So you can't blame the last 6 years of the Fed on Bush. Obama had 2 opportunities to reverse course and opt for a strong dollar policy coupled with price stability. He decided that he liked the short term gains of money printing better than long term sustainable economic policies.

Also, why is it that Obama has failed to hold the criminal bankers accountable? Why is Corzine still a free man? Obama is complicit in corporate fraud and malfeasance, because he has Holder refusing to indict and prosecute. And saying that Bush did the same thing is not a defense.

When my kids used a curse word, they might have appealed to me to avert punishment because their friends curse too. I can assure you that I didn't allow that to be a viable defense. Saying someone else does a bad thing does not excuse you for doing a bad thing. Being a good leader is taking accountability. Obama needs to do more of that and so do his followers.
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