Monday, September 30, 2013
Obama meeting with Wall-Street!
President Obama is meeting with the CEO's of many large insurance and banking firms, including Lloyd Blankfein and Jamie Dimon. The meeting was organized by the Financial Services Forum, a trade group representing the CEO's of the 19 largest banking and insurance firms.
Let's get to work on this topic...
The first thing we should notice here is the fact that Obama is meeting with these guys (CEO's), at the White House.
We should ask "who/what is/are the Financial Services Forum?"
And lastly, we should ask "why is the FTF meeting with Obama?"
On the first point, let's examine this situation. President Obama is meeting with the CEO's of the most powerful banks and insurance companies on the planet. These are the banks and institutions responsible for all of our financial problems since 2001, including the infamous financial meltdown of 2008. So why is Obama meeting with these wicked guys? I say guys because there are no women CEO's involved.
On one hand it is not an entirely dumbfounded meeting. Banks and insurance companies are tied to the economy in a very close and precise way, so their profits are overall business are directly linked to the political events that occur on the Hill. With or without any degree of government regulation this is how the economy works, so in such a case it is not completely without sense to have a meeting between the President and banks with which hold the people's money.
However, what is unnerving is that these CEO's are the ones responsible for all of our financial problems, and these guys are meeting with the president. If these CEO's had a reputation for helping society and of being of some benefit then there would be no issue, but the fact that the president is meeting with a group of men who literally have no more intelligence than that of your average five year old (less if you count the degree of greed), who are less than human and are essentially the scum of the earth, and want nothing but money at absolutely any cost, is cause for concern.
The most corrupt and evil of men have scheduled a meeting with the most powerful man in the known galaxy for reasons known as the 'debt ceiling', which is a problem in and of itself to be sure, but no one knows the specifics of the meeting between the president and these guys.
What is the FSF?
-It's a trade group representing the CEO's of 19 of the largest banks and insurance firms.
Why are they meeting with Obama and what does it matter?
-They are meeting with president Obama to discuss the matter of the current stalemate in congress between Democrats and Republicans regarding the debt ceiling. The debt ceiling is the maximum amount of debt allowed by congress that the U.S. can legally hold.
By not raising the debt ceiling, government will shut-down. According to Bank of America, this should not have an effect on Permanent Open Market Operations (POMO), but stocks will and already have been affected as investors react accordingly. This is cause for concern for the financial sector hence why they are meeting with Obama. It's all about the bottom line.
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