Obama To Wall Streeters: You're Too Greedy
Today Barack Obama went before an audience of Wall Street investors and told them bluntly that they need to scale back their, well, acquisitiveness for the good of the rest of us:
"If we are honest, I think we must admit that those who have benefited from the new global marketplace — and that includes almost everyone in this room — have not always concerned themselves with the losers in this new economy," Obama told the crowd at the Nasdaq MarketSite.
Declaring that a "what's good for me is good enough" mentality had infected the business community, Obama called for a "reappraisal of values" and asked the assembled to "join me in ushering in a new era of mutual responsibility in America." Obama's speech today is almost certain to be completely overshadowed by Hillary's health care speech, but it's still noteworthy. Obama's full speech here.
Comments (6)
Keith wrote on September 17, 2007 1:39 PM:I think they call this speaking truth to power.
james wrote on September 17, 2007 2:26 PM:I read the speech. It's his typical platitudes and catch phrases. He's not going to put forward anything but rhetoric because they contribute too much money to his campaign for him to actually talk about reforming Wall Street. All in all, I thought it was a non-event.
Obama should use the senate to legislate his ideas, not just offer up fancy speeches that lecture people on what they should do, in my opinion. A real leader would do that. This is a Hillary Clinton speech - full of bark but no bite.
kenga wrote on September 17, 2007 3:05 PM:But james!
Leading by legislative (or executive) fiat is so authoritarian, so, so liberal.
No echoes of the old "Ask not what your country can do for you ..." thing that resonate with you?
Reform does not necessarily always happen through the pressure of external forces.
And if he hadn't at least made the effort to speak to their better angels, he would not be able to, in the future, say "Well, we tried to be nice about this. Now grab your ankles."
If Obama were to suddenly get the power to snap his fingers and reverse Global Warming, Hillary supporters would complain that he didn't do it yesterday. Probably followed by Hillary trying to take credit for it being her idea or that she actually did it.
Michael Caine wrote on September 17, 2007 3:18 PM:Or Edwards for that matter! (in reference to my post above.)
DonnaG wrote on September 17, 2007 6:05 PM:I did read the entire speech. I can understand how Obama can get things accomplished by working across divides. He consistently appeals to folks' 'better angels'.
Benjy, I believe your header is a real distortion. Obama never used some attack or punitive phrase like 'you're too greedy', He instead was stating the reasons why Wall Street should look at the bigger pictures of alternative tomorrows.... and how those alternatives would affect Wall Street's own well-being as well as affect this whole country.
