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aceventura3 · 04-16-2009, 08:05 AM

How is Obama doing? I guess it depends on "winners" and "losers".

After a trillion or so dollars on corporate aid and bailouts in the financial sector, companies in the financial sectors are starting to report profits that exceed expectations and new shareholders are making a shit load of money. The XLF is a exchange traded funds representative of the broad financial market. Among the top holdings include Wells Fargo, JPMorgan, Bank of America, Goldman Sachs, and Citi. On March 6 the XLF was trading at $6.18. Today it is trading around $10.85. That is a 75% return in about a month.

No doubt the XLF was hit pretty hard from a year ago, but a lot of investors were dumping their investments and only the bravest who held to the bottom lost massive amounts of their investment. Now lots of investors have bought into these companies at or near the bottom given the government commitment to bail them out.

But here is the kicker. While these firms got a trillion or so in bailouts, and now starting to show some profits, with stock prices starting to go through the roof....Guess what...foreclosures continue to rise...banks are doubling credit card rates...raising fees... etc., etc. and basically screwing the American public with the costs of the bailout on one hand and securing their profits on the other.

I am a "capitalist pig" and I can appreciate making money and taking advantage of opportunity. But I wonder why Obama did not focus more on helping people rather than financial institutions, why not focus on consumers rather than investors.

The winners of round one are clearly the financial institutions and investors. The losers - average Americans

So, perhaps on this basis you can tell me how Obama is doing. Personally, I can love Obama if he can give me a 75% ROI every month.

04-16-2009, 08:05 AM	#447 (permalink)
aceventura3 Junkie Location: Ventura County	How is Obama doing? I guess it depends on "winners" and "losers". After a trillion or so dollars on corporate aid and bailouts in the financial sector, companies in the financial sectors are starting to report profits that exceed expectations and new shareholders are making a shit load of money. The XLF is a exchange traded funds representative of the broad financial market. Among the top holdings include Wells Fargo, JPMorgan, Bank of America, Goldman Sachs, and Citi. On March 6 the XLF was trading at $6.18. Today it is trading around $10.85. That is a 75% return in about a month. No doubt the XLF was hit pretty hard from a year ago, but a lot of investors were dumping their investments and only the bravest who held to the bottom lost massive amounts of their investment. Now lots of investors have bought into these companies at or near the bottom given the government commitment to bail them out. But here is the kicker. While these firms got a trillion or so in bailouts, and now starting to show some profits, with stock prices starting to go through the roof....Guess what...foreclosures continue to rise...banks are doubling credit card rates...raising fees... etc., etc. and basically screwing the American public with the costs of the bailout on one hand and securing their profits on the other. I am a "capitalist pig" and I can appreciate making money and taking advantage of opportunity. But I wonder why Obama did not focus more on helping people rather than financial institutions, why not focus on consumers rather than investors. The winners of round one are clearly the financial institutions and investors. The losers - average Americans So, perhaps on this basis you can tell me how Obama is doing. Personally, I can love Obama if he can give me a 75% ROI every month. __________________ "Democracy is two wolves and a sheep voting on lunch." "It is useless for the sheep to pass resolutions on vegetarianism while the wolf is of a different opinion." "If you live among wolves you have to act like one." "A lady screams at the mouse but smiles at the wolf. A gentleman is a wolf who sends flowers."