QUOTE (robbbs @ Jan 28 2010, 07:41 AM)

Obama is turning more moderate in some of his views -- a strategy reminiscent of what Bill Clinton did during his presidency. I voted for Obama and believe health reform is necessary. However, IMO his administration's policy emphasis and priority should have been entirely on the economy. In that respect, I am very disappointed in him thus far. Fix the economy first before trying to undertake huge changes elsewhere. It alll begins and ends with jobs and the economy.
All along his problem is what he needs to do runs counter to what he got elected on and wants to do. He's a very smart man with no experience. That's why he gets trapped into things that make no sense - like trying the 9/11 terrorists in the suns shadow of where it happened. He's also now lost Bloomberg's support on this one as reality sets in on everyone, except him and Holder, about what this really means. So if he shifts to a much more moderate position, corrects past mistakes on emphasizing healthcare and this terrorist trial among others, it could mean he's coming of age. If he doesn't go there then he's a one term and out President and positve things he does too late in that term will get creditted to his successor.
If I'm him I simply stop the trash talking on banks and bonusses and simply put in a huge tax on trading over past historical norms and tax everything heavily on the type of derivatives that got us in trouble. I'd also take all the leverage out of commodity markets and put it at the same restrictions that exist on stocks. That will quickly stop all the fantasy profits, trading bubbles and dangerous derivatives on Wall Street that bring nothing positive to anyone but the greed takers and simply divert money from where he'd like to see it go. Stop trying to force banks to lend money as that is what got us into the real estate mess we have in the first place. The Government should just set up it's own bank for small and intermediate size businesses and qualify loans on basic loan compliance stats. You have it, you get it and tax returns or auditted styatements prove if you have it. Normal leverage ratios such as EBITDA to debt or interest expense coverage determine your rate. The lower of the first and the higher of the second the better the interest rate gets as the risk on the loan is much lower. Going through a middleman is always difficult and never yields the results you want.