Obama Acknowledges Congressional Insider Trading
Posted by Larry Doyle on January 24, 2012 10:29 PM |
I will readily admit that I find President Obama to often be disingenuous in much of what he is delivering in his State of the Union.
He plays to an American public which remains severely challenged when it comes to financial literacy.
When he speaks about taxes, would he care to lay out why there is a difference between tax rates on long term capital gains versus ordinary income?
Does he know the difference and why the long term capital gains rate is lower?
In doing so, savings and investment are promoted so that those dollars from Americans can be utilized to fund our deficit and new business rather than borrowing from foreign entities.
When he speaks about rebuilding the auto industry, would he care to lay out how the rule of law was run over in the process?
When he speaks about the destructive nature of the mortgage origination industry over the last decade, would he care to admit that he was one of the biggest beneficiaries of largesse from Fannie Mae?
When he speaks about his efforts to solidify our relationship with Israel, is he kidding?
While I will give Obama his due for efforts specifically within the education sector, I find much more of his self-aggrandizing manner to be pure political stumping for re-election than anything else.
All this said, he did distinguish himself by calling out the need for Congress to pass legislation to address those on Capitol Hill engaging in insider trading. That acknowledgement — and it is a BOMBSHELL — should be on the front page of every business section and financial periodical tomorrow morning.
Mr. President, you want greater trust and a sense of fairness throughout America? Well, your cabinet, your party, your advisors, and your friends all remain deeply embedded and engaged in the Wall Street-Washington Incest.
You don’t think so? Let’s get a little more genuine. Read that link and then come on back!!
P.S. Did Obama address why our nation’s credit rating was downgraded last summer? What about the deficit? Hardly a mention.
Do your friends, family, and colleagues a favor and get them to do the same. Thanks!!
I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets, our economy, and our political realm so that meaningful investor confidence and investor protection can be achieved.