Happy Little Princes
by digby
We spoke with Steve Massocca, co-CEO of Pacific Growth Equities in San Francisco, about the strong market rally yesterday heading into tonight’s State of the Union: “Clearly the market has been reacting in part to what has been coming out about the speech, especially lowering corporate tax rates and reducing the deficit. … [President Obama] seems to be coming around on some of these issues. … And I’m not sure it was just the midterms. I think [former President Bill] Clinton’s visit to the Oval Office had an impact. I think Clinton probably sat him down and said, ‘You are going to be looking for a new place to live in two years if you don’t change your approach to business and job creation.’ So I think [Obama’s] gotten religion on some of these things and the market is happy to see it.”
Well that’s a relief. Because these poor Wall Street guys have really been through hell since Obama took office:
Apparently, that’s just not good enough. They also need to be allowed to be bailed out by taxpayers and never pay even the slightest price for fucking everything up so badly in the first place. Moreover we are evidently supposed to politely beg them to do it all again.
I liked it better when Obama told it like it is:
“It’s almost like they’ve got — they’ve got a bomb strapped to them and they’ve got their hand on the trigger,” President Obama said on Thursday of the banks he’s chosen to bail out. “You don’t want them to blow up. But you’ve got to kind of talk [to] them, ease that finger off the trigger.”
Seems he’s been schooled since then not to speak out of turn.
.