"Banks and other financial services companies generate one quarter of all taxes collected here [NYC], so anything that hurts their revenue really puts the squeeze on the City's economy."
Mayor Michael Bloomberg of NYC is gettin' mad. I don't blame him one bit. His city needs the financial services industry to be profitable and keep the city afloat. But Obama has a vendetta against Wall Street and he won't let it go. The legislation is already in the works to cripple Wall Street with more red tape and regulation...which means more costs, less revenue.
This is bad for NYC, but here's the problem for you and me:
We are ALL in Wall Street.
Do you have a 401k? Stocks? Bonds? What about an IRA? Pension?
Most people are trying to responsibly save now to achieve financial security following retirement. But in order to do so we need the help of a successful Wall Street. We need earnings, profits, and healthy businesses nationwide to push our investment along and allow our own personal wealth to grow.
Before my stay-at-home mom days, I did have a career way-back-when and paid into the Social Security system making me eligible for SS benefits. But considering my age/distance from eligibility and Social Security's inability to meet even current payouts, I'm not counting on it. My chances at SS checks dwindle with each year. But...Obama wants me to count on it. He wants me to NEED it. He wants a middle class dependent on the government. And by crippling Wall Street, Obama will have his way.
Source:
http://wcbstv.com/topstories/obama.wall.street.2.1633143.htmlRush
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