Going on CNN Radio today

At 3:30, est, with replays of the interview played throughout the rest of the day and well into the night. The topic: It's all about this opinion piece I wrote regarding the President's interview on 60 Minutes last night.

Wish you had your own copy? You can get it first thing in the morning by sending an email to info@LandColtTrading.com and type 'SUBSCRIBE' in the subject line.


President’s Comments about Wall Street are Disturbing
By: Todd M. Schoenberger

For the second time this year, President Obama sat down for an interview with Steve Kroft and 60 Minutes; and for the second time this year, the President continued to provide an uncanny hatred toward the men and women who work on Wall Street.

Back in March, the President proceeded to tell Mr. Kroft that Wall Street professionals should spend time in places like Arkansas, North Dakota and Iowa. Evidently, there are plenty of other Wall Street-haters there, as well. Then, last night on CBS, the President seemed uneasy when discussing Wall Street salaries and bonuses and provided this historic gem: “the fats cats still don’t get it.”

The President clearly knows what he’s doing. Democrats are notorious for bashing the rich and acting like Robin Hood in an effort to gain votes and be seen as a “hero”. After all, the numbers will always add up: There are way too many poor people, and very few rich people.

But the only person who doesn’t “get it” is the President himself. After holding the all-world jobs summit two weeks ago, many from the unemployed ranks were counting on solutions to get them back on company payrolls. Instead, all we heard out of the White House following the 130-participant meeting was that many ideas were discussed; but the likelihood of any of those ideas coming to fruition is remote, at best.

Ironically, the President needs Wall Street to help produce jobs. But, this is where the President’s leadership skills come into question. Instead of embracing the works of Wall Street and the job creating initiatives that are cultivated in lower Manhattan, President Obama would rather vilify the sector and use it as a soapbox in an effort to obtain votes.

If he wasn’t the President of the United States, but rather the Treasury Secretary, his comments would be considered irresponsible. It is Wall Street’s capital-raising talents that help create jobs, expand businesses, and link global economies that help produce goods and services necessary to maintain a viable economic engine.

Here’s an idea that should’ve come out of the jobs summit: Maybe the President should spend less time in Arkansas, North Dakota and Iowa, and collaborate with the workforce located on the corner of Wall & Broad. Utilizing Wall Street talents can only help the President formulate a ‘real’ strategy for job growth in this country.

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