Obama Says ‘The Big Short’ Was Wrong: Wall Street Has Changed
Reflecting on his economic legacy, President Barack Obama disputes the conclusion in The Big Short movie that nothing changed on Wall Street after the 2008 economic meltdown, and maintains that his policies have helped stabilize the financial sector.
In a wide-ranging interview with the New York Times published on Thursday, Obama bemoaned his fractious relationship with Wall Street, said finance is absorbing more science and engineering talent than it should, and speculated he might have gone into business if not politics. But he has little patience for criticism from business leaders.
One of the constants that Ive had to deal with over the last few years is folks on Wall Street complaining, even as the stock market went from in the 6,000s to 16,000 or 17,000, he said, referring to the rise in the Dow Jones Industrial Average during his administration. Theyd be constantly complaining about our economic policies. Thats not rooted in anything theyre experiencing; it has to do with ideology and their aggravations about higher taxes.
In the Dodd-Frank legislation to overhaul the financial system, Obama sees a major shift in how Wall Street is regulated. He takes issue with Hollywoods version, reflected in the 2015 film The Big Short, which suggested that little has changed on Wall Street. The movie was based on the 2010 best-seller of the same name by Michael Lewis.
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http://www.bloomberg.com/politics/articles/2016-04-28/obama-says-the-big-short-was-wrong-wall-street-has-changed
jpmonk91
(290 posts)no Obama your wrong
PDittie
(8,322 posts)I still wouldn't be buying them, maybe others could.
2naSalit
(86,612 posts)Wrong!
BillZBubb
(10,650 posts)Johnnie's changed! He's going to be serious now and follow the rules. He's a winner.
Sure.
KoKo
(84,711 posts)But, hey, he's the President (Two Term) so when Obama SPEAKS
Amricans Listen!
zalinda
(5,621 posts)Purveyor
(29,876 posts)a former President...
Really hoping...
KoKo
(84,711 posts)What is going on here? He and Michelle are Set for Life..and, yet he seems to be everywhere saying he has night sleep problems over what "I could have done."
Doctor_J
(36,392 posts)stronger than they were before.