Tag Archives: Barack Obama

No, President Obama Isn’t Against Capitalism — But He’s Not Defending It Loudly Enough

31 May

Originally posted on Business & Money:

“I can’t think of another presidential candidate in history who has ever tried to win the presidency by running against capitalism.” So said Rush Limbaugh of President Obama last week. Asked for a response during a Fox News interview, Governor Mitt Romney said, “There’s no question but that [Obama is] attacking capitalism.” Romney has also described the Obama presidency as a “debt-and-spending inferno.”

This is overheated election-year nonsense. President Obama is pushing back at the Romney claim that leadership at private-equity firm Bain Capital has taught him how jobs are created, and that a President’s stewardship of the economy consists mainly of maximizing profits for investors. But he is not arguing against capitalism.

Nevertheless, many Americans — and not just hardcore conservatives — believe that this President does indeed reject capitalism. And what’s ironic is that Obama himself is largely to blame: the President is not hiding a hatred for capitalism…

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JP Morgan losses an unfortunate part of the free market economy: Romney campaign

15 May

Originally posted on National Post | News:

WASHINGTON — U.S. Republican presidential candidate Mitt Romney’s campaign said on Tuesday JPMorgan Chase & Co’s huge trading losses were an unfortunate part of a free market economy.

Romney adviser Eric Fehrnstrom told NBC that, while Romney supports some financial regulation, the losses at one of the nation’s largest banks involved investors, not taxpayers, and that rules for Wall Street shouldn’t hamper investments.


“The leadership of that company will be held accountable for this trading loss, but we don’t want to punish companies, he told NBC’s Today program. ”There was no taxpayer money at risk. All of the losses went to investors, which is how it works in a public market.“

The Romney campaign’s comments come a day after President Barack Obama said the huge trading loss highlighted the need for Wall Street reform. Some JP Morgan executives have already left the bank, which could see additional fallout when…

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Obama Approval vs. S&P 500

4 Feb

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