Obama | “One of the biggest problems” of the financial crisis is that “a lot of that stuff wasn’t necessarily illegal; it was just immoral or inappropriate or reckless.”

From today’s “speech”

Obama said “one of the biggest problems” of the financial crisis is that “a lot of that stuff wasn’t necessarily illegal; it was just immoral or inappropriate or reckless.”

“The financial sector is very creative and they are always looking for ways to make money,” Obama said. “That’s their job. And if there are loopholes and rules that can be bent and arbitrage to be had, they will take advantage of it.”


They broke the law…

I can come up with more than enough crimes committed to lock all the perpetrators up for life…



33 Responses to “Obama | “One of the biggest problems” of the financial crisis is that “a lot of that stuff wasn’t necessarily illegal; it was just immoral or inappropriate or reckless.””
  1. This statement is proof that the banks own Obama and he must, therefore, defend their illegal position.

    In order to be a politician you must first be a lawyer or be able to fully comprehend how to write or speak in that lingo. The latin definition of lawyer means: to twist. Take note that this statement is a pure example from a defensive political position.

    If you look at this statement the message is clearly unclear as part 1 implies: “a lot of that stuff was’nt necessarily illegal”. This fragment really doesn’t admit to anything and has no factual basis. It is an intended beginning to more meaningless banter.

    By using the words “a lot of that stuff” really doesn’t point to anything at all. Furthermore, if “a lot of that stuff wasn’t illegal” then why didn’t he just say it outright? Instead he adds “necessarily” to front illegal. Another term added to cloud his unsure position in the statement. This statement was Intentionally written and very deceptive in it’s context, primarily intended to defend and admit to nothing in particular.

    In part 2 of this statement he uses the words “it was just immoral or inappropriate or reckless. Again, these terms are used to give the impression and support to the unclear part inthe first part of his statement “that a lot of that stuff wasn’t neccessarily illegal.” Immoral, inappropriate or reckless actions may or may not be illegal, more ambiguity.

    All in all, a very weak and meaningless statement that is apparantly accepted to defend his owners, but easily dismantled by the 99% that can see right through his words and any of his inappropriate, immoral and reckless intentions as the worst bought president ever. Come on bankers, you can do better than that, can’t you?

    Any real leader, worth his salt, would speak to the people in a straight forward style and say what he means and mean what he says. Their words should be clear and on point. The only time a lawyer goes off point is when they try to defend their weak position, which is what Obama has done here.

    Take a lesson from some of the great leaders of our time and stay on your point! If it is truthful then there will be no need to defend your position. Stay strong and build your point from a postion of strength and truth.

    Over time this strategy will define for us all what real power feels like, then watch out all you liars!!!


  2. Hell No, No More Blasted Bank Bail-Outs says:

    We are hearing PROPAGANDA from Obama. The Obamanation machine has to kick into gear to steer his supporters away from Occupy Wallstreet where he is seeing his union members flock.

  3. lvent says:

    I am going to try and post Danny Schecter’s fantastic documentary, Plunder, A Wall Street Story…which aired on RT NEWS a couple of weeks ago…If it does not post, please you tube search it..

    • lvent says:

      you tube search Plunder, A Wall Street Story…gotta watch this….it talks all about the 140 trillion in debt these bastards created out of thin air….

  4. kravitz says:

    For 2012, I will vote for local candidates who support financial reform. Meaning at this point, I will leave the ‘President’ category blank. If there was a ‘none of the above’ option, I would do that. While I’m not suggesting all of us do that, it is something you should let other know if you are planning to do so.

  5. incognito123 says:

    Mary, I’ve been saying that for a while now. Beyond that, I think the commentary says enough and it all!
    They broke the law…
    I can come up with more than enough crimes committed to lock all the perpetrators up for life…

  6. Mary says:

    Yet people wonder why the Occupy Wall Street movement is gaining so much momentum. It’s from comments like that from our own President. Now the written word and the spoken word can often have 2 different meanings. I did not see the interview or speach where Obama made these comments. From the written word, it’s NOT GOOD.

    These Occupy movements are trying to be peaceful protests. My gut tells me that Civil Unrest is just around the corner. People are going to stop being quiet and patiently protesting. I think the phrase that comes to mind is ‘I’m mad as hell, and not going to take it any more!’

    For the times, they are a changin’ ~Bob Dylan

  7. Eugene Villarreal says:

    Define Illegal Mr. President .
    Wall Street’s Definition
    Banker’s Definition
    Government’s Definition
    Court System’s Definition
    Homeowners didn’t break the Rules or Laws, All of the above DID.

  8. JJ says:

    President Obama also said this during the interview .. “If someone has engaged in fraudulent actions — if they have violated laws on the books, they need to be prosecuted,” ..

    The President deserves some credit for making that comment .. Thank You Mr. President .. we need your voice AND your help.

    God Bless America

    • Wayne says:

      I missed that one …. I hope your telling us the truth.

    • lvent says:

      I did not hear that one..and if the President said that then my question to the President is this, Alot of the stuff they did was illegal, so why haven’t any of these criminals been indicted yet? The proof of the fraud they committed is in every Recorder of Deeds office nationwide. The CHICAGO,ILLINOIS, Cook County Recorder of Deeds, Eugene Moore, talks about the mortgage fraud openly and honestly in the second paragraph of his home page that reads:
      The current status of the Real Estate Industry is due in part to the financing of real estate aquisition and re-financing of home ownership. You need only examine the headlines of local newspapers for the fraud that was pervasive in the Mortgage Industry. The evidence can be seen in the foreclosures that blight our communities and the increasing numbers of the homeless. To cure the industry ills and mitigate instances of homelessness, two new programs were implemented to fight potential mortgage and conveyance fraud in Cook County. To report mortgage fraud call the mortgage fraud dept at the Cook County Recorder of Deeds office: 312-603-4000 http://www.ccrd.info/CCRD/controller
      The FBI blew the whistle on the mortgage fraud in 2004 to the Bush Adminstration..
      Then there is the WAIVER, in the HUD CONTRACT that an attorney asked me to sign which states:
      WAIVER: Some resulting agreements may require the Client to waive any rights to future legal action against lender with respect to the original mortgage loan and subsequent modification. Client is encouraged to consult with an independent attorney regarding waiver of that right if an agreement is offered with this language.

      • lvent says:

        That link is not working to the Cook County Recorder of Deeds website that talks about the Mortgage Fraud that was pervasive in the Mortgage Industry….This link works, then click on the homepage….President Obama…..

    • JJ say’s….I think you may have imagined he said that….Others who are well informed on all that is going on did not hear him say that……so let’s not give credit where credit is not due. His voice has been silent for almost 3 years now and there has been NO HELP from Obama for the people of this country….. and he does not plan on giving any help….WAKE UP JJ……

    • leapfrog says:

      Ok, everyone. Read this: http://www.efinancialnews.com/story/2010-01-22/key-quotes-from-obamas-speech

      I’m not liking how O has flip-flopped and I voted for him. As Yves Smith on Naked Capitalism says, he is a Rubinite and a “Wall Street Democrat.” And as far as me voting for O again? As A-Man on Neil’s site says, “NEVER AGAIN.”

      • lvent says:

        I was doing some research last night and found out, Obama is a Fabian Socialist…Google it…and Ron Paul is a member of the John Birch Society..Google it….They are all evil…..hoodwinked is their motto…I read the Fabian Socialists are a very conspiratorial organization that uses systematically the standard Communist techniques of infiltration and deception to undermine and eventually destroy the United States to enslave the American People….The Fabian Socialist and the Communist Party are merely two tentacles of a single octopus…The Fabians represent an organized conspiracy to destroy by deceit…..This fact they have themselves admitted…
        The basic principles that all americans must learn and apply every waking hour of the day is that public pronouncements made or instigated by members of the Conspiracy NEVER mean precisely what they say…..To grasp the real meaning you must first correct them by making the conversions indicated for (a) the particular audience that the writer or speaker is trying to bamboozle, and (b) the specific objective that the conspiracy is trying to attain….Two books written by Harvard Professors are supposed to be the most important books of our time that speak about this vast International conspiracy and must be studied and heeded or if we do not, we will be lost……”Keynes At Harvard” and The Great Deceit” Social Pseudo Sciences by the staff of the Veritas Foundation….

  9. lvent says:

    I found a good link that explains very well the meaning of the word, arbitrage. Arbitrage is the making of gain through trading without committing any money and without taking a risk of losing money… the term is used more loosely, to cover a range of activities, such as statistical arbitrage, and uncovered interest arbitrage, that are not true arbitrage, because they are risky…Obama should know what he is talking about before he talks..they are really making him look like a big liar..

  10. housemanrob says:

    Remeber when Obama said he didn’t want people who used medical marijuana…to suffer because if the feds intervened with state laws….people would not be able to get their medicine? Well………..he flipped on that ORIGIAL LIE and now they are going to raid, seize and prosecute all of the vendors….they have 45 days to close…..he will do anything to jack up big corporations……in this case “Big Pharmaceuticals”! The man is pure puppet bullshit!

  11. lvent says:

    This is just about the same way Obama and Holder summed up Operation Fast and Furious, the end justifies the means. Holder is blocking Congressional investigations into that scandal, 9/11 and Wall Street ….I just read a NY Post report that at least 200 mexican citizens have been killed quite possibly with the guns that are missing from Op Fast and Furious…..This is not a democracy, this is a tyrannical dictatorship…

  12. Kate J says:

    I had the TV on when the reporters started asking the questions. Amazed they would ask them. Disappointed they did not ask tougher questions. Stunned that O would stand there in front of millions of people watching and LIE. The reporters let him off the hook. Were they not prepared, or were they controlled as to how far they were allowed to take it? They are owned by the banksters. O is owned by the banksters. Duhhh.

  13. abs says:

    This is why Ron Paul will get my vote.

  14. Ron Moss says:

    This reminds me of the 16th Amendment that some people think was the source of authority for the income Tax. There is no jurisdiction for the federal gov over state and private employees

  15. Diana Cessna says:

    This is what our president says?!?!?!?!? We are in big trouble and it’s getting worse very quickly. Since when does our legal system allow “bending the rules”? Laws are not made to be bent, but complied with by everyone equally. And “arbitrage to be had” are you F’n kidding me? Arbitrage that is exploitative and deceptive is indeed illegal. All that silly old fashioned stuff like banking regulation, SEC rules and corporate law governing shareholder accountabiliy specifically prohibit unfair, deceptive and oligarchic arbitrage!!!!

    We apparently are learning about the change that is being forced on our country. We don’t want change! We want the laws, rules, regulations, due process in the courts and our beloved Constitution of the United States to to stay the same and be complied with by everyone equally so we can have fair competition and opportunity for all.

  16. Readdocs says:

    They aren’t calling him Mr.Goldman Sachs for nuttin’.

  17. Daniel says:

    The Federal Reserve System is UNCONSTITUTIONAL!!!!!! And I thought Bush was a DUMBASS!!!!!

    • Daniel….Bush was and is still a dumbass…. so are the others who followed him these last 3 years….and those who were before Bush….Well…let’s just say go back at least 30 yeras till now….they were all off the same blueprint…..and let’s not forget the Vice Presidents ….especially Cheney…even his smile was crooked and he talked crooked….that was a dead give away where he came from and was going…crooked all around guy..not exactly the ‘ man of the year ‘ award…..And counterfeir money is illegal….try it and see how far you get….Just think of it…they put the strip in the paper counterfeit money that the Fed. Res. printed up ….to prove what is counterfeit on the market…and what wasn’t…..all of it was counterfeit….regardless who printed up money….a crook trying to catch another crook…….does that tell you what dumbasses they all are?

  18. rictic says:

    No Barry, they broke the law and the last time I looked, thats ILLEGAL…

  19. k.b. says:

    i completely agree. very disheartening to hear that coming from POTUS. what about forged dox? what about security lies told to investors? what about this awful “MERS” registry? is it really just so very legal but “immoral” for LPS to cook up some notes at a bank’s behest?

    very sickening. i do pray that a candidate comes forward who actually gives a flying f*ck about THE PEOPLE and can work to REALLY put these banksters away, instead of leaving it up to the attorneys general. i want to be able to vote for someone i can trust.

  20. lvent says:

    It is almost as if he is trying to cause outrage and incite riots. Unbelievable!

    • I vent…So that was your impression? I do not and will not listen to any of his speeches….I say the same thing about Chase and this money giving to NYPD…and the WHITE SHIRTS beating a peaceful crowd…not a riot…peaceful. Like they were given orders to start working the crowd over..a deliberate action….it just appears they want to start something…and I say that money would be for transportating the people to the FEMA CAMPS once a riot may be started…..I feel that is what Chase is after….and it don’t look good…sneaky bastards….people need to carry signs telling of police brutality and Chase feeding the brutality…..The world is watching….this way the world see’s what is going on….I dread the day when the first shot is heard….and that could come from anywhere from anyone. A protest at the Federal Reserve has to get started….a strong protest and Washington DC…..Chase may have gotten that money from the Federal Reserve…another prozy scam…..But it seems Obama would have been better off not giving a speech….he left alot of people thinking more deep into him….but it is too late now…the speech is over and the talking has started.

  21. Peter J. Pike says:

    What planet has Obama been living on?

Leave a Reply