Friday, April 29, 2016

Obama Admits Couldn't "Convince Americans Of Recovery", Bashes 'The Big Short' | Zero Hedge

Obama Admits Couldn't "Convince Americans Of Recovery", Bashes 'The Big Short' | Zero Hedge: "Reflecting on his economic legacy, President Barack Obama disputes the conclusion in “The Big Short” movie that nothing changed on Wall Street after the 2008 economic meltdown, and maintains that his policies have helped stabilize the financial sector.
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Perhaps the following nine charts will provide a little more color as just what "saving the world" looks like for President Obama (red shaded section is his 'reign') and why the American public just would not fall for his now-admitted bullshit...

But that's not all, in his New York Times' diatribe, President Obama takes further aim at more fiction-peddlers - those of "The Big Short"...as Bloomberg reports,
Reflecting on his economic legacy, President Barack Obama disputes the conclusion in “The Big Short” movie that nothing changed on Wall Street after the 2008 economic meltdown, and maintains that his policies have helped stabilize the financial sector.

...Obama bemoaned his fractious relationship with Wall Street, said finance is absorbing more science and engineering talent than it should, and speculated he might have gone into business if not politics. But he has little patience for criticism from business leaders.

“One of the constants that I’ve had to deal with over the last few years is folks on Wall Street complaining, even as the stock market went from in the 6,000s to 16,000 or 17,000,” he said, referring to the rise in the Dow Jones Industrial Average during his administration.

“They’d be constantly complaining about our economic policies. That’s not rooted in anything they’re experiencing; it has to do with ideology and their aggravations about higher taxes.”

In the Dodd-Frank legislation to overhaul the financial system, Obama sees a major shift in how Wall Street is regulated. He takes issue with Hollywood’s version, reflected in the 2015 film “The Big Short,” which suggested that little has changed on Wall Street. The movie was based on the 2010 best-seller of the same name by Michael Lewis.

“There is no doubt that the financial system is substantially more stable,” Obama said, adding, “It is true that we have not dismantled the financial system, and in that sense, Bernie Sanders’s critique is correct.”
Yeah looks like you really showed them!!
'via Blog this'

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