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Obama Presidency, 01.21.09 — 11.15.13: R.I.P

Posted by Larry Doyle on November 15, 2013 9:53 AM |

“Oh what a tangled web we weave, when first we practice to deceive.”
Sir Walter Scott, in Canto VI Stanza 17 of “Marmion” (1808)

I do not think I can count the number of times that I have actually written the specific words, “truth, transparency, and integrity” at my blog over the last 5 years. When I write those words and the importance of putting them into practice, I actually mean them.

Regrettably, far too much that emanates from Washington on both sides of the aisle bears little resemblance with those virtues. Collectively we suffer tremendously as a result.

Before commenting on our President’s attempted Hail Mary, administration-saving pass delivered yesterday, I would like to pose a question to those who might read this post. Have you ever worked with or for an individual for whom telling the truth is secondary to advancing his/her own personal agenda? I have.

In fact, I would maintain that senior management on Wall Street is filled with individuals replete with this character deficiency. It is as if they learn that in order to advance their own careers, they have to be able to display to those above them a willingness to coolly and calmly run over people, bend the truth (if not outright misrepresent and lie), and cut corners to the point of actually breaking the rules of the game. All done in the pursuit of personal advancement with an acceptance that the ends always justify the means.

Many people might define individuals with such character traits as sociopaths. I tried to stay as far away as I possibly could from these people whenever possible.

I reflected on my interaction with many of these individuals when I watched the President speak to the American public yesterday. Just as I would walk — if not run — away from those individuals after assessing that they were not being forthright with me, I firmly believe that we are now witnessing a similar dynamic play out in Washington in regard to our President.

I do not think there is any doubt that the President was not honest with America when selling his healthcare plan. I view his veiled attempts at contrition delivered last week and then again yesterday not as embracing our prized virtues of truth, transparency, and integrity. Anything but. What I saw and heard were statements put forth to try to generate political cover for himself and Democratic representatives. Not a lot of honor in that.

Individuals and businesses are being enormously impacted like never before from the fallout of the incompetence and deception displayed by the administration in regard to Obamacare. People get this. What do I envision? Unlike the other controversies surrounding the administration over the last months and years, this is different and will stick to him and his administration despite any and all attempts to wipe their hands of it.

Nobody in Washington, let alone the President, can or should think that they can so coolly and calmly misrepresent a situation to the point that now many would believe it rises to the level of outright deception if not actually perpetrating a fraud. What is the price the public imposes on those who undertake these pursuits? They run away. They look upon said individuals in an entirely different light, that being one with zero credibility.

In my humble opinion, the Obama Presidency has now crossed the line and is officially a lame duck a full three years prior to the next election. That reality does not bode well for our economy or our position in the world but it is reality. This truth may hurt but it is the truth.

Mr. President, you and your colleagues involved in your deception made this bed, now you get to lie in it.

How do you feel? I welcome comments from those across all points on the political spectrum.

Navigate accordingly.

Larry Doyle

Please pre-order a copy of my book, In Bed with Wall Street: The Conspiracy Crippling Our Global Economy, that will be published by Palgrave Macmillan on January 7, 2014.

For those reading this via a syndicated outlet or receiving it via e-mail or another delivery, please visit the blog to comment on this piece of ‘sense on cents.

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I have no 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 so that investor confidence and investor protection can be achieved.






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