Election 2012, Wall Street change and why we must continue to protest

Looking ahead to the 2012 Election, don't count on much in the way of Wall Street change from the crop of Republican presidential candidates, writes Joel Kotkin for Politico. Setting aside the various other follies that have tended to characterize much of the recent GOP discussion, a candidate's willingness to enact continuing Wall Street reform could play a vital part in their electability, especially among undecided voters and others who lean right of cen-ter. Elections are certain to cost enormous payday loans though, whether or not the candidates get all the votes they need.http://personalmoneynetwork.com/moneyblog/2011/12/05/election-2012-wall-street-reform/

Gingrich attempting to win an elec-tion

In a classic lawsuit of “he was against it before he was for it,” Newt Gin-grich has been difficult to pin down when it comes to the issues surrounding Occupy Wall Street. Kotkin explains that Gingrich didn’t like the Troubled Asset Relief Program bailout at first, calling it a socialist thing to do. He supported this taking place later on.

It makes sense that Gingrich changed his mind since he got $1.6 million in consulting charges because he worked with Freddie Mac. Gingrich also supported the wholesale deregulation of the financial industry when he served in Georgia's 6th congressional district, which was very much in line with what Wall Street wanted - and what most financial experts believe led to America's financial crisis.

Tea Party upended

There have been a ton of issues with the Tea Party prospects. Both Michele Bachmann and Rick Perry have lost all momentum in the competition. Kotkin believes that much of the problem has come from the candidates hav-ing a conservative agenda. It is also considered that the candidates are ignorant of how things really work in the government.

Criticizing Obama

While the Democratic party seems unlikely to offer a challenger to Barack Obama leading up to Election 2012, it's not because the party as a whole is pleased with the president's economic policy. Populists on the far left are disturbed by what they believe to be “gentry-friendly” policies that have done too little to punish Wall Street for its brazen financial speculation with the masses' cash and too much to aid Wall Street in its rebuilding - a reconstruction that some be-lieve will only serve to bring back the same faulty system of speculation as before.

Subsidies and the progressive faction of the GOP

Kotkin points out that there are Silicon Valley venture capitalists that are on Wall Street’s side. They want more deregulation. They also like that Obama has put $14 billion into green venture subsidies. By giving VCs the green thumbs up, Obama implicitly support their position in America's future economy and indi-cates he could not be as gung-ho on Wall Street change as he lets on.

A few unhappy Amer-icans

A recent Gallup poll found that 81 percent of Americans are not happy with the financial status quo. They have kept Occupy Wall Street as a reminder of hope. They're hoping Obama will change things for them. The businesses considered “too big to fail” cannot be given handouts while tax system reforms are needed. Evidently public protest is needed. It may be the only way for things to get done. Prospects need to be sent

a message that resounds

for the 2012 election. This consists of both democrats and republicans.

Obama, Occupy Wall Street and the 2012 campaign

http://www.youtube.com/watch?v=q2by4G1Sdyw

Sources

AARP: http://my.barackobama.com/page/share/wall-street-video-share?source=20110721_jm_misc&utm_medium=email&utm_source=obama&utm_campaign=20110721_jm_misc

Obama for America: http://my.barackobama.com/page/share/wall-street-video-share?source=20110721_jm_misc&utm_medium=email&utm_source=obama&utm_campaign=20110721_jm_misc

Politico: http://www.politico.com/news/stories/1211/69744_Page2.html