• 
• 
• 
• 
Sen. Barack Obama (D-IL) at the Nasdaq MarketSite September 17, 2007, New York. Photo by Chris Hondros/Getty Images.
by Christi Parsons
In an address at the NASDAQ market site on Monday, Sen. Barack Obama criticized Wall Street values and called for greater transparency in its practices in order to improve public confidence.
Both the marketplace and the political world have seen a “dangerous erosion of the rules and principles” that have made American economy thrive in the past, the Democratic presidential candidate said.
“Instead of thinking about what’s good for America or what’s good for business,” he said, “a mentality has crept into certain corners of Washington and the business world that says, “what’s good for me is good enough.”
Obama said a current drive for the “quick kill” in business has hurt the country and its economy, warning that the marketplace can’t thrive without “the trust of investors and the public.”
The speech is the first of two addresses scheduled by Obama this week, in which the Illinois Democrat plans to unveil his ideas about the economy. Monday’s speech focused on what he sees as the country’s greatest economic problems, citing the example of the subprime mortgage crisis that has put the homes of millions of Americans in jeopardy. On Tuesday, he will talk about his plans for improving the economy.
The speech came around the same time that Sen. Hillary Clinton of New York, the frontrunner for the Democratic nomination, addressed a labor audience in Chicago to unveil her plans to improve the nation’s health care system. She joined two other Democratic candidates in a forum before the Laborers’ International Union of North America, one of the nation’s leading labor organizations.
Obama has said he will skip many of the numerous Democratic candidate forums in favor of taking his ideas directly to voters. And on Monday he followed an established page in his play book by taking a critical message straight to its target.
Comments
“What’s good for me is good enough” should be Obama's campaign slogan.
He's focusing on America's economic problems?
Oh, great.
Will he disavow his support for NAFTA? He wasn't in office yet to vote on it but he's on record thinking it's a great idea... tell that to the American workers who lost their jobs to cheap foriegn labor... tell that to that same foriegn labor working under hazardous conditions for subsistance wages.
Will he disavow his support for filthy, inefficient corn based ethanol? It's not only an environmental disaster-in-the-making but an economic one too as it jacks up the price of all processed food.
I doubt it. he's gotta keep those corporate Big campaign Bucks coming in... Cha-CHING!
Posted by: Anonymous | September 17, 2007 11:05 AM
Wall Street values? What about B. Hussein Obama's values buying a house from a crook while getting a sweatheart deal.
Posted by: JEFF | September 17, 2007 11:10 AM
Thank you, Barack;
Thanks for attention to the erosion of Wall Street values.
Thanks for your attention to how our current lobbying practices are eroding America.
Thanks for your understanding on how the auto/oil cartel is destroying our standard of living.
Thanks for your persceptive views on Iraq and your good direction in trying to fix that mess.
I agree with most of what you have put forward. I think it is great that you are bypassing the Democratic forums and taking your platform (WOW - an actual platform devoid of "slinging mud"!!) directly to us!
You are a breath of fresh air in America's foul, nasty political arena.
Posted by: Bob | September 17, 2007 11:28 AM
Those evil capitalists. Providing loans to people so they can buy homes, and then actually expecting that the borrowers pay them back. Obama's plan: make home ownership a right, not a privilege!
Posted by: kurt | September 17, 2007 11:40 AM
His only example: "citing the example of the subprime mortgage crisis that has put the homes of millions of Americans in jeopardy."
These mortgages were enetered into by two parties, neither of which was under duress. That mortgage gave folks a shot at their dream.
BTW, most subprime mortgages are not in default - so they have served more people then they have harmed.
What Senator Boy Wonder should be criticizing is the lacjk fo financial education taught in our gov't run schools. There is the failure.
Posted by: Terry | September 17, 2007 11:42 AM
Will he give the same lesson to the UAW?
Posted by: Greg | September 17, 2007 12:38 PM
Obama criticizes Wall Street's Values???
This coming from a guy that accepted Norman Hsu's dirty money.
Obama's decades of unpaid parking tickets.
Obama's admitted illegal drug use.
Obama's shady land deals with Tony Rezko.
Look in the mirror Barack!
oh...and his middle name is Hussein.
Paulo
Posted by: Paulo | September 17, 2007 1:27 PM
How ironic, there were some this past weekend who acussed The Wall Street Journal as a liberal rag, the most read publication around the world when it comes to capitalism. You know conservatives are over-the-top radicals when they go off that deep-end.
What next? Keyes for president?
Posted by: RomanB | September 17, 2007 2:08 PM
Obama criticizes Wall Street's Values???
Posted by: Paulo | September 17, 2007 1:27 PM
Paula,
These are all Wingnut charges.
No charges have ever been filed against Obama, no idictments....nothing.
It's the same old story for the Republican weenies, "vote for me because I can smear the other guys".
America has moved on from the Republic Party swiftboat tactics, sorry Wingnut losers.
Posted by: John E | September 17, 2007 2:09 PM
"Both the marketplace and the political world have seen a “dangerous erosion of the rules and principles” that have made American economy thrive in the past..."
Did the senator provide any insight into what those "rules and principles" might be? Or is that left to the interpretation of each listener, each of whom will, of course, have their own ideas of "rules and principles" that have made America great?
Posted by: JB | September 17, 2007 2:37 PM
The Republicans wankers are in NO position to critisize ANYONE about ethics especially their leading candidate Rudy Julieannie:
http://www.youtube.com/watch?v=zPj-bpIeSTU&eurl=http%3A%2F%2Fwww%2Edailykos%2Ecom%2F
Posted by: John E | September 17, 2007 2:43 PM
Paulo is correct to criticize Obama for his dealings with the unsavory Tony Rezko. Imagine the nerve of the Rezko guy. Using an apartment overlooking the World Trade Center rubble donated for rescue workers to rest in between searches for the remains of those murdered on 9/11 so that Rezko could have an extra-marital affair. How gruesome? How selfish? How sleazy? Any person who would keep company with this Rezko sleazeball is unfit to govern.
Posted by: jethro | September 17, 2007 2:53 PM
Obama's values include not paying his taxes, being a parking ticket scofflaw, cozying up to Tony Rezko, and grabbing all of Norm Hsu's cash he can.
He exemplifies the attitude he denounces: "what’s good for me is good enough.”
Posted by: Bruce | September 17, 2007 3:30 PM
Posted by: Bruce | September 17, 2007 3:30 PM
Brucie,
Your one note Obama "allegations" are getting tired, maybe your guys (Replicans should look in the mirror more often:
Rudolph Giuliani - Bernard Kerik - Drug - Money - Politician - Government - Med - Enforcement - New York - Election 2008 - "OxyContin: The Giuliani Connection." ... "[2008 election Republican Presidential candidate] Rudolph Giuliani and his consulting company, Giuliani Partners, have served as key advisors for the last five years to the pharmaceutical company that pled guilty today to charges it misled doctors and patients about the addiction risks of the powerful narcotic painkiller OxyContin." ... "Federal officials say the company, Purdue Frederick, helped to trigger a nationwide epidemic of addiction to the time-release painkiller by failing to give early warnings that it could be abused." ... "Prosecutors say "in the process scores died."" ... "Drug Enforcement Administration officials tell the Blotter on ABCNews.com Giuliani personally met with the head of the DEA when the DEA's drug diversion office began a criminal investigation into the company." ... "According to the book "Painkiller," by New York Times reporter Barry Meier, both Giuliani and his then-partner Bernard Kerik "were in direct contact with Asa Hutchinson, the administrator of DEA."" ... "Meier wrote that "with Giuliani now in the mix, the pace of DEA's investigation into Purdue's OxyContin plant in New Jersey slowed as Hutchinson repeatedly summoned division officials to his office to explain themselves and their reasons for continuing the inquiry."" -By Brian Ross, Richard Esposito, and R. Schwartz -ABCNEWS.com
Posted by: John E | September 17, 2007 3:47 PM
The Republic Party might want to stop "swiftboating" Senator Obama with ALLEGATIONS and pretending that they are FACTS and start taking a closer look at the Republic Party frontrunner, Rudy Julieannie who has a long history of ethics and character issues.
http://www.youtube.com/watch?v=zPj-bpIeSTU&eurl=http%3A%2F%2Fwww%2Edailykos%2Ecom%2F
...and then there's Rudy's lies about 9/11:
http://www.youtube.com/watch?v=6mEEjX6j_f4
Posted by: John E | September 17, 2007 4:22 PM
“Instead of thinking about what’s good for America or what’s good for business,” he said, “a mentality has crept into certain corners of Washington and the business world that says, “what’s good for me is good enough.”
Kudos to Obama!
Could someone here tell me what planet Paula is from?
Posted by: Lt Dan | September 17, 2007 4:46 PM
Barack Obama would prefer the U.S. became a communist country, apparently. Gee, why am I not surprised?
Posted by: John D | September 17, 2007 5:38 PM
Barack Obama would prefer the U.S. became a communist country, apparently. Gee, why am I not surprised?
Posted by: John D | September 17, 2007 5:38 PM
John D spouting nonsense.
Posted by: Logic Prisoner | September 17, 2007 10:22 PM
Funny how Obama wants to be a cocialist with everyone elses money. He owns a mansion in Chicago. Let's see if he wants to start redistributing his money first!
http://sedulia.blogs.com/photos/everywhere_else/barack_obamas_house.jpg
Posted by: Jim | September 17, 2007 11:46 PM
Wall St. values; short term gain over long term sustainability. 'Nuffsaid.
Posted by: Anonymous | September 18, 2007 2:54 AM