TODAYS THOUGHTS

Recently President Obama talked about how he was not a “negative force for Wall Street”. I began to wonder what he really meant by “Wall Street”. Wall Street is just few blocks in New York City.

I thought maybe he was referring to the banks so I took a look at how many people are employed at Citibank, Bank of America and Wells Fargo. I asked five individuals how many people they thought worked at the three combined banks. No one even turned out to be close. The fact is almost one million people work at just these three banks.

Why is it that Wall Street is so often maligned, especially by the political left and especially when it has no meaning? There is an incessant attack on our corporate structure. Corporations are nothing more than a piece of paper. Each politically inspired attack is an arrow aimed directly at the work force.

Until intellectual honesty is brought into political discourse and cliché words are not used to stir up emotions, little progress will be made on the fundamental issues. One of the major problems with the political speeches is the lack of straight forward explanation that fixing the education system, the healthcare system and pretty much everything else requires lots of money. It’s easy enough to make money evil or greedy but those are just cliché words.

We need a system that is legal and moral and praises the people that work within it to create the growth necessary to create a growing standard of living, not a declining one. There is no such thing as bad corporations, there's just bad people. Stay tuned…