Shocker: Wall Street firms earned more in two and a half years of the Obama presidency than all 8 years of the Bush presidency

Will liberals now "Occupy" the White House?

(GOP)- “During Obama’s Tenure, Wall Street Has Roared Back, Even As The Broader Economy Has Struggled.” “But both sides face an inconvenient fact: During Obama’s tenure, Wall Street has roared back, even as the broader economy has struggled.” (Zachary A Goldfarb, “Wall Street’s Resurgent Prosperity Frustrates Its Claims, And Obama’s,” The Washington Post, 11/6/11)

“The Largest Banks Are Larger Than They Were When Obama Took Office” And Their Profits Are Near The Same Heights As They Were In 2008. “The largest banks are larger than they were when Obama took office and are nearing the level of profits they were making before the depths of the financial crisis in 2008, according to government data.”  (Zachary A Goldfarb, “Wall Street’s Resurgent Prosperity Frustrates Its Claims, And Obama’s,” The Washington Post, 11/6/11) 

Wall Street Firms Have “Earned More In The First 2¹ / ₂ Years Of The Obama Administration Than They Did During The Eight Years Of The George W. Bush Administration.” “Wall Street firms — independent companies and the securities-trading arms of banks — are doing even better. They earned more in the first 2¹ / ₂ years of the Obama administration than they did during the eight years of the George W. Bush administration, industry data show.” (Zachary A Goldfarb, “Wall Street’s Resurgent Prosperity Frustrates Its Claims, And Obama’s,” The Washington Post, 11/6/11) 

Are insurance companies really to blame for high medical costs?

Democrats like to blame the health insurance industry for the high cost of health care. According to Nancy Pelosi,

"They are the villains in this," Speaker Nancy Pelosi told reporters. She labeled industry practices as "immoral."

The truth is insurers are actually holding down costs. Most insurance companies send a statement to clients after they use health care services. Check your statement and you will see the insurance company is getting a 40% to 50% discount for services. A PricewaterhouseCoopers study of 2008 costs indicates 87% of insurance premiums go to pay for health care services. Only 3% are insurance company profits.


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Considering the bureaucracy and inefficiency of the Federal Government, the waste from a public option would likely be far in excess of 3%. Other proposed changes, such as eliminating preexisting conditions, will dramatically drive up costs to insurers.

Al Gore lies about profit from global warming scam(video)

Rep. Blackburn quizzed Al Gore about his profit motive for promoting global warming. He claims, "Every penny I have made, I have put into a nonprofit." Also, Al Gore said, "If you believe the reason I have been working on this issue for 30 years is greed, you don't know me." Al Gore has donated the proceeds from the movie and book to a nonprofit, but he has definitely gotten rich off the global warming scam. He has been charging $175,000 for the same canned global warming speech for years and he has extensive investments in companies benefiting from global warming legislation. When Al Gore left office in 2000, he had a net worth of only about two million dollars. He is now estimated to be worth $100 million. Since he has been focused almost exclusively on global warming for the last eight years, it is disingenuous to claim he donated "every penny" to nonprofits. From Bloomberg.com,

Former U.S. Vice President Al Gore left the White House seven years ago with less than $2 million in assets, including a Virginia home and the family farm in Tennessee. Now he's making enough to put $35 million in hedge funds and other private partnerships.

Gore invested the money with Capricorn Investment Group LLC, a Palo Alto, California, firm that selects the private funds for clients and invests in makers of environmentally friendly products, according to a Feb. 1 securities filing. Capricorn was founded by billionaire Jeffrey Skoll, former president of EBay Inc. and an executive producer of Gore's Oscar-winning documentary film on global warming.

Gore To Blackburn: If You Think It's About Greed, "You Don't Know Me" (video via YouTube)