Wall Street knows that Obama will win this election. Obama has promised to raise taxes on the wealthy, increase taxes on capital gains, shut out corporate lobbyists and plug corporate loopholes. He would bring a world of hurt to Wall Street. He also wants to pass long overdue legislation to give average, longsuffering Americans healthcare. Wall Street doesn’t want these policies to take effect. The solution? Loot the treasury before he takes office.
Even if he wins and they have to pay higher taxes, they will have already helped themselves to billions of dollars in advance. Once Obama takes office, he will essentially be a lame duck, bankrupt president. The long overdue dream of change that we have worked so hard to achieve will have died.
At first they claimed they would be buying bad mortgages and toxic real estate. Now the plan has ballooned to include credit card debts and all kinds of bullshit. We all wondered how the forces of status quo would stop Obama, since fearmongering, slandering and in-your-face racism have failed. Well the master plan is now before Congress, my friends. As Wall Street faces the prospect of dealing with America's first African American President, it decided to take the money and run for the hills.
There will be no financial Armageddon if this bill does not pass. America's economy is more resilient than that. I am sick of this administration crying wolf. Let the chips fall where they may.