Don’t expect black Liberals to fault baby black Jesus on his spooning with Wall Street.
In the time of Obama, Wall Street has feasted. The man who said he would wrangle in Wall Street for the sake of Main Street has done anything but.
The rich have gotten richer under Obama and dramatically so. By the way, Obama has gotten richer as well.
One would think that given Obama’s warning, Wall Street would have reigned itself in, and decided to give no bonuses, or at least small enough amounts that nobody would really notice. But that’s obviously not the case.
An article in the Washington Post reported,
The average bonus tumbled by 9 percent to $146,200 last year, according to data released by the New York State Comptroller’s Office Monday. Bonuses are still much bigger than they were during the financial crisis, but smaller than they were 10 years ago. (The all-time high averaged $191,360 in 2006.)
In the battle waging by Barack Obama against Wall Street, the average bonus is still more than double the average pay for the average America. The government that tells us you can’t be any happier making more than $70,000 a year is still ushering in the Era of Greed.
The interesting thing about these wonderful bonuses is they come in a year when the financial sector took a serious hit. If there were any time Wall Street could have not taken bonuses, it was 2015.
Industry profits fell by 10.5 percent, according to the comptroller’s report. And bank stocks have performed worse than the rest of the market all year, with shares of Bank of America being down nearly 20 percent so far this year.
If 2015 bad news bonuses is an indicator, 2016 is going to be a bonanza, as stocks appears headed for another bear year, to say the least.
But that’s not stopping Wall Street. While the average Americans are trying to hold on to their paychecks, the average Wall Street salary, including bonuses, rose 14 percent to $404,800 in 2014, the most recent year available, according to the state comptroller’s office.
Barack Obama and other supposedly anti-greed, anti-fat cat, anti-wealthy rich greedy fat cat Liberals have seen Wall Street grow over Main Street, during the Era of Obama. The “wealth gap” has widened under Barack Obama and is the widest in modern history.
If there were an economic policy that has targeted blacks (ergo poor people) the most, then Obama’s economic policy is the most racist in history.
But as Obama said recently, that the economy is “pretty darn great.”
Spoken like a truly detached rich white Wall Street fat cat being interviewed at the country club, after a nice round of golf.