America Wants to Throw The Bums Out
Posted by Larry Doyle on September 15, 2010 7:00 AM |
With the most important elections in our lifetime — since the last election at least — less than 8 weeks away, the pulse of the country is clearly beating and sending a strong message. What is the tone of that message? Americans are increasingly sickened by the standard ‘business as usual’ politics and are getting ready to ‘throw the bums out.’
In light of the disasters that have played out on our political and economic landscapes, can you blame America at this juncture for harboring these feelings? If you have any appreciation for ‘sense on cents,’ America’s voice is resonating with a message that newcomers certainly can not be any worse than the stale crowd and establishment politics promoted by party machines.
In typical fashion, we will witness both sides of our political aisle look to frame the debate and incoming candidates as ‘unable to win,’ ‘ideologues,’ ‘extremists,’ if not worse. As the established incumbents and political machines of both parties fight to maintain power, ask yourself the question: “What have they done to pursue greater transparency and disclosures in a never ending pursuit for real truth and integrity both in Washington and on Wall Street?” The s*&% sandwich that America has been served by so many incumbents who do not have the balls or the backbone to stand and deliver these virtues is being sent right back to the kitchen. The incumbent ‘waiters’ who believe they can tell America what is best for them ‘on the menu’ are waking up to see that America is no longer buying this line of bulls*&%.
While America is sending this message to Washington and many state capitols, it is sending the very same message to those occupying the corner offices on Wall Street. Investors now understand that Wall Street has constructed exchanges that do not promote fair, level, and open playing fields. Can those fields be leveled and opened? Unless and until investors regain real confidence, I expect they will continue to stay away and allocate capital elsewhere.
I do not believe these shifts in our political and financial markets are temporary or mere ripples across a large ocean. The undertow is extremely strong. The pounding of the waves is relentless. The bums are going home. America wants to regain the character and the aforementioned virtues that have been subjugated by those focused on personal profit and political power. I welcome it.
How about you? What are you feeling at this juncture? Here’s your voice.
I have no affiliation or business interest with any entity referenced in this commentary. As President of Greenwich Investment Management, an SEC regulated privately held registered investment adviser, I am merely a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.