Election Gamble Backfires for Financial, Energy Firms: Commentary

November 7, 2012

  • November 7, 2012 at 10:51 am
    ExciteBiker says:
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    Sorry, but compromise time is over. The GOP made darn sure of it when instead of taking a deficit reduction deal that was everything they ever wanted and more they chose to shove us off the fiscal cliff and get our credit downgraded. John, the energy sector doesn’t need a spirit of compromise. It needs to take all necessary steps to ensure its preferred party has a real wake-up call. It needs to vigorously exile the zealots, the crusaders, the extremists, and the bigots. Grover Norquist, Sheldon Adelson, the Koch brothers, the Religious Right, and these talk radio skeezeballs have to go. The hate has to go. The desire for endless wars, private prisons, and secret poisons has to go.

    Because either the Republican party changes its stripes or it ceases to exist. I think the election last night shows the power of changing demographics and an information age that enables people to know, for example, that one of the two major parties spent millions upon millions upon millions of dollars to try to keep Americans from being able to legally cast a ballot in states across the country.

    • November 7, 2012 at 1:45 pm
      Former Status Quo says:
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      The time for compromise ended when the president promised open door politics and not once did we ever see the inside of the office. He’s been as bad as previous presidents, if not worse – especially when it comes to being paid for favors.

      Show me the open door on Dodd Frank and the Patient Care act, and I’ll show you a country that is not divided.

      The president is as big a factor in the partisan politics as the guys on the right.

    • November 8, 2012 at 1:35 pm
      Mike N says:
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      Your analysis does not pass the logic test. There is not a revenue issue. Ther eis a spending issue…period. Until the bleeding (i.e. spending $1.5 BILLION more than is taken in annually) is stopped, there is absolutely no reason to give the patient MORE blood. The bleeding must be stopped first.

      One would have to be an absolute brainless fool to suggest otherwise.

      • November 9, 2012 at 4:34 pm
        RNR_Risk says:
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        Or — One would have to be a simpering moron to suggest that macroeconomic issues are managed in such an oversimplified way.

    • November 9, 2012 at 2:41 pm
      LiveFree says:
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      So much to comment on. First this fiscal cliff is not solely the GOP’s fault. That deal would have just kicked the can down the road like always. GOP, Dems and the american people alike are responsible for the deficet and allowing the government to spend becuase we want *insert hot button issue* paid for/taken care of by the governement. And yes Republicans just as much as Dems are like this.

      Second I love how the article talked about banks and investment agencies like Goldman Sachs were only supporting Romney. I know and work for a lot of lobbyist and I can gurrantee you that these banks, investment companies, or whatever other huge industry special interest were in the pockets of both canidates. These politicans are all corrupt and they want to talk about abortion and gay marriage and legalization and never about the truth of the state of our country. While yes these issues are importnat to civil rights but what about the big picture? What about Dodd-Frank, the federal reserve, the deficet and the up coming bond market bubble?

      To end my rant I don’t just think the Republicans need to “change their stripes.” I think Americans need to change their stripes.

  • November 7, 2012 at 12:18 pm
    Captain Planet says:
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    Preach it, brother! Amen!

  • November 7, 2012 at 12:19 pm
    Captain Planet says:
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    Man, Insurance Journal is so quiet, you can almost hear Mitch McConnell’s jowls drop further and further.

    • November 8, 2012 at 1:43 pm
      Mike N says:
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      Just like the stock market, economy, business hiring and employment. Why would any entrepreneur go forward with a business hating administration, who’ve proven they’ll do everything possible to destroy businesses and poison the marketplace.

      Why would any investor put their money in a new venture? Well, unless that venture was on the government gravy train. There is no reason for an investor to gamble with their money, so long as the hard left is running the country, wreaking havoc on all job creators. Why go through the hassle and stress? Keep the money, hide it besst as possible, and take a vacation to the Carribbean.

      FYI, due to the election results, my wife’s company is now shutting their doors. We have been carrying the costs of the business in a terrible environment, with hopes the change in government would at least prove a bit more economically sane. Unfortunately, there is no longer a reason to hope this will turn around.

      Bottom line? Next week 6 people will lose their jobs. FYI, these people have all been there for 10 years, or more. Thanks, leftists!

      • November 12, 2012 at 2:13 pm
        Captain Planet says:
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        What type of business is/was your wife in? My wife actually found employment under President Obama’s first term. Hope is not lost, perhaps I can provide some advice how she went about locating what has become her favorite career thus far. I’ve had several other friends find employment over the course of the past 4 years as well. Is she currently remarketing herself?

  • November 7, 2012 at 1:44 pm
    Libby says:
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    The entire industry took the day off for mourning. The only ones working are the Democrats. We’re all hungover from celebrating, but we made it in anyway!

    • November 7, 2012 at 6:20 pm
      Just a mom says:
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      We may be mourning, but we are here still working as well. Be sure to rub it in….A sore winner is worse than a sore loser. My president is the Lord God Almighty and therefore, man can not disappoint me!!

    • November 8, 2012 at 1:45 pm
      Mike N says:
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      Democrats don’t work. They only stand in line to take money from taxpayers who actually do the work. Well, I guess some leftists do “work”. That is, they start companies that scam the government for “investment”. Corporate cronies.

      • November 8, 2012 at 1:51 pm
        Libby says:
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        “Democrats don’t work.” Really? You really want to make that statement? It’s almost too silly to respond to, but I am any way.

        I have worked, full-time, since I was 17. I have supported myself since I was 17. I was not fortunate enough to have the opportunity to go to college, so I worked my way up in the insurance business. I have put 33 years into this business and have been very successful. I pay my taxes and then some. I do not use many community resources like schools or recreational facilities because I have no children. But married with no children requires me to pay MORE for these services. I do not complain about it because it’s what society does for it’s citizens.

        Please. Stop with the hate.

        • November 8, 2012 at 2:12 pm
          Mike N says:
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          It is apparent you do not have children. if you did you would be clear on the war your party has been waging against the American family for generations now.

          In this world all one has is time. That time can only be allocated in one place at a time. that time can be spent with family, friends, work, etc. When 35% of my time is stolen by the feds, 10% stolen by the state, another 10% stolen by local and county government, that is a war against my family. That makes 55% of my life that has been stolen from my family, my wife, and my life. That doesn’t even take into account sales taxes, fees, and surcharges on seemingly everything.

          Then, you and your party have the cajones to claim people like me “aren’t paying your fair share.”

          This is a war being waged against my family by the democrat party and leftists, like you. You are stealing time away from my family and friends. You are stealing my life. You, in short, are the enemy.

          Either you lack the faculties to understand this, or you simply don’t care. Given you do not have children, perhaps that lack of perspective has caused you to overlook such factors. Perhaps you simply lack the intellectual curiosity to put @ and 2 together. Either way, you are at war with me and my family, as is the entire democrat party.

          And, FYI, even though I have two children, the democrat party has so destroyed public schools mine are sent to private school. So, while I have paid taxes for the schools, I am barred from usingthem due to leftists screwing them up.

          You can pretend your vote means you care for citizens. Of course, government has squandered that money. the government has driven Social Security, Medicare, and Medicaid into the ground, creating trillions in debt which isn’t even on the books yet. Why? Because the money has been stolen to buy votes and pay-off unions for support. You should have written “that’s what the government does to destroy it’s citizens” (and with no lube!), if accuracy was your goal.

          • November 12, 2012 at 2:20 pm
            Captain Planet says:
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            I have a daughter. I would like to have more time, too. But, I don’t see how any political party is taking that away. I haven’t had time since I started my career path many years ago. I’d say it has more to do with a corporation you work for than it does the government. And, without unions, we’d be working even longer. Thanks to the unions, we have 5 day work weeks (for the most part, of course, I put in time during the weekend when I need to). Fact is, if you don’t like your job because it takes you away from your family, do something else.

            Public schools are great here, perhaps you should look into Des Moines. Tons of opportunity here, too. Either way, good luck with your situation, Mike. I hope you figure it out soon. As it stands, you sound uber-confused to me.

  • November 7, 2012 at 1:48 pm
    Another Country Heard from says:
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    Remember, this was not by any means an overwhelming mandate to President Obama. He has taken positions that I agree with and many others that offend and bother me; but that’s in the nature of government being controlled by a modest winning margin with differential in the legislative branch. My main concern is that the cost of levelling the playing field for all is a loss for at least half of the population (ex the 1%, of course) and constitutes a further drain on an economy that can poorly handle MORE drainage. Additional taxes ARE NOT an acceptable answer. Government growth in both size and scope IS NOT an acceptable answer. With the withdrawal from the Iraq / Afghanistan region, perhaps the budget can find better ways to utilize a portion of that defense spending without loss of capability to defend us when needed. Congratulations to President Obama but compromise and moderation are needed to survive the next 4 years, from both parties (and their constituents!).

  • November 7, 2012 at 1:57 pm
    Reality of the Situation says:
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    ExciteBiker – I have never written here before, but I read regularly. If you look at the popular vote split of only a couple percent, it does not support your (or anyone else on either side) assertion that either side is so far off that they are broken. In fact that is part of the problem, that so many people do not bother to see how nearly equal both sides are, and instead attribute an election win with “See, we were right and they were wrong.” It is just not that simple.

    And, God bless anyone willing to serve as President of these great United States.

  • November 7, 2012 at 1:58 pm
    4Law says:
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    How about just get behind the notion that in this democracy, the People don’t want financial institutions to abuse the system by privatizing gain and socializing losses? The lack of ability to look beyond the narrow interest of your next personal bonus check is appalling. There’s plenty of money to be made out there; just stop ripping people off and polluting the environment while doing it. You may need to work a little harder, but suck it up!

    By the way, take heart: the Angry White Men turn out for mid-terms, while the Democratic coalition only shows up for the Presidential elections.

    • November 8, 2012 at 1:56 pm
      Mike N says:
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      “People don’t want financial institutions to abuse the system by privatizing gain and socializing losses” – Then why was Dodd Frank passed by the leftists, which codificed “too big to fail”? You know, Dodd and Frank, who both were receiving gobs of “campaign” cash from Wall Street to write the rules in their favor?

      “The lack of ability to look beyond the narrow interest of your next personal bonus check is appalling” Actually, employers will do just fine. It’s the employees – the ones who are doing the work and expecting actualy payment for doing so – who are the ones hurt by you, your party and your vote.

      Your vote will be the direct cause of layoffs, higher unemployment, fewer start-ups, smaller paychecks, and lack of investment in new and existing enterprises. I only hope you are individually made to live with the consequences.

      Also, Obamacare will cause 15%+ medical facilities to close within the nest 4-5 years. One can only hope you and your family are directly affected. Also, the Obamacare/democrat tax on medical devices will cause many new and emerging maufacturers to shut their doors or cease to move forward with new and emerging, life-saving technologies. Once again, I hope your family is directly affected. It’s sad to write tehse words. However, it seems that is the only way leftists learn.

      • November 8, 2012 at 1:59 pm
        Libby says:
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        Wow. You are just a hate-filled rageaholic. You’re not even worth being angry at.

        I hope none of those things are you or anyone else. How can people like that even call themselves Christian?

        • November 8, 2012 at 2:23 pm
          Mike N says:
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          Choices have consequences. Since we are going to have to live with the consequences of your choices, one should hope those who made the choice experience the consequences. After all, isn’t that what you wanted? Why is it hateful to wish those who voted for the consequences actually experience them.

          After all, should someone other than the murderer do the jail time for the murder? Of course not. The person who caused the damage should be the one experiencing the effects. Same here.

          FYI, this has nothing to do with rage. It’s simply logical one should deal with the consequences of their actions.

          The sick and hateful acts are the taxes on the medical devices, and passing legislation even a simpletom could see was damaging. There are cuts in Medicare coming, which means old people will experience pain and many will die (if you read the legislation, that almost seems to be a perverse intent of the leftists). Personally, I find that sickening, appaling and hate-filled. Obviously, you find it both acceptable and reaasonable.

        • November 10, 2012 at 11:58 am
          FFA says:
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          Libby, People are losing their jobs. If you work for an employer over 50 employees, you should start sweating if not your job, your health benefits.
          There has already been a surge in Self Funded Plans from 50 – 100 employees. When they see how it is not going to work for them, they will just drop what they have all togeather or fire employees to get under 50.
          I know I will never hire a full time person again. Its going to be college kids that wont claim UnEmployment on me.
          Thats just the way it is – the new normal – more hate – more rage.

  • November 10, 2012 at 8:35 am
    Nancy WH says:
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    If Republicans “hate” poor people so much, why do they support fiscal policies guarenteed to create more of them? Why should I invest in a 401K or any other stock market investment tool if the market is rigged toward the insiders? Just a wealth extraction tool as far as I can see. Same with HMO’s. A give-away to health insurance execs that adds cost while simutaneously denying heath care services. All I have is a crummy 2 year degree & I can figure this out. I can’t control my personal economy unless I can control my personal reproduction choices. If I get paid less than men, my husband & son suffer from my loss of income as well. If Walmart continues to pay crappy wages, I have to provide heath insurance to their employees so their profits may remain high. Why do Republicans continue to think if they repeat their misinformation more often, louder, and in prettier words, I will lose this insight? Corporate welfare is welfare the same as direct payments to poor people. If we cut off their corporate welfare, they may raise their prices? Then I will buy less of their crap. The stock market crashed in the ’20′s because too much of the country’s wealth was in the hands of too few, & few could afford to buy anything. If Republican policies didn’t work back then, what makes you think they will work now?

    • November 12, 2012 at 10:23 am
      FFA says:
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      Nancy, even with your two year degree, you can see that with out Tort Reform there was no reform. Its just change for th sake of change.
      Why is it the Obama and Congress dont have to be on OBama Care? If its so good for you and I, why not them? No one has ever come out and say what they believe is affordable. No one has put a plan design infront of me.
      Politicians from IL are tell bigger lies the the rest. Whats worse is they dont even know they are lying.

    • November 12, 2012 at 10:48 am
      Libby says:
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      Right on, Nancy! The reason people don’t wake up and see that the current quo is rigged against them and is all in favor of the richest of the rich is because they hope against hope that if they follow the mantra, they can be rich too.

      We will never be more than what we are if the wealthiest few continue to make decisions for the many. They are stealing us blind and half of America thinks it’s a great thing. We need revolution and a redistribution of wealth to level the playing field.

    • November 14, 2012 at 2:13 pm
      Taxpayer says:
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      Bravo ! Well Said!

  • November 12, 2012 at 4:28 pm
    Plymn says:
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    If the top earners have to sacrifice more to get our fiscal house in order, how about the welfare queens and other able-bodied individuals sucking on the government teat do something too?

    Whatever happened to, “Ask not what your country can do for you – ask what you can do for your country.”?

    • November 12, 2012 at 5:17 pm
      Captain Planet says:
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      Finding a “welfare queen” is like finding a unicorn. Good luck, Plymn. And by that, I mean, you’ll need more than a leprechaun to guide you on your journey.

      • November 12, 2012 at 8:10 pm
        Plymn says:
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        Funny, I’ve talked to more than a few. Maybe I should have looked for a pot of gold too.

        • November 13, 2012 at 8:19 am
          Libby says:
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          Maybe you should re-think where you are hanging out.

          Just what is a “welfare queen” anyway?

          • November 15, 2012 at 2:21 pm
            FFA says:
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            My Daughter has been a prime example for the better part of 4 years.

          • November 15, 2012 at 2:24 pm
            Libby says:
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            Only because you allowed her to be. If she was out on her own there is no way she could survive, with 3 kids, on what she gets for assistance. But I’m sure it was nice pin money while she mooched off of you and your wife.

          • November 15, 2012 at 4:33 pm
            FFA says:
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            Whats pin money? No sarcasm, just never heard that expression.
            If it wernt for my Gr Kids who are fatherless for the most part, she would have been out on her but. Seems like she finally got tired of me not filling her hand when she stuck it out. On that front anyways, better days are coming! From no jobs to two jobs in one week!

          • November 15, 2012 at 4:34 pm
            Libby says:
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            Pin money is an expression used for play money. Not sure why they call it pin money.

          • November 15, 2012 at 4:49 pm
            FFA says:
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            I never gave her a nickle. Cant remember the last time she was out of the house except for the neighbors or the cousin a few blocks away. I wont even pay her car insurance nor the fine she got when caught driving with out it.
            She will be taking the bus to work until she can situated with her license and car. One employer is right next to the other so…Seems to be a revenue neutral thing for me until she gets her license taken care of. Then, I’ll be sticking my hand in her pocket.
            I can dream, cant I?

            None the less, not all gloom and doom any more from me. My health Insurance bill jumped $200 @ month and I need to either fire my last employee or sell some more insurance. I’ll sell more insurance. Life with a long term care rider seems to be the hot topic of discussion since my return from AZ. Getting very warm responses including one that is going to require an additional mill on life insurance. Hope he is healthy. I know he is rich.

          • November 15, 2012 at 4:52 pm
            FFA says:
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            Maybe when she gets a tase of the pin money, she will just get more hungry for some fun in her life.

  • November 13, 2012 at 8:28 am
    Plymn says:
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    I work in a large city across the street from the county administration. I talk to many people when I sit on the benches over my lunch hour.

    A welfare queen is someone who existence is totally dependent on the taxpayers and who is making no effort to get off the dole. Too many are bringing their adult children to get their life on the dole started as well.

    • November 13, 2012 at 8:49 am
      Libby says:
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      Well, life on the dole doesn’t sound very royal to me. Subsidized housing and a few hundred dollars a month? Not exactly living high on the hog. Maybe these women haven’t been shown any other alternative to their lifestyle. Just what skills do they have and how can they hope to get a job making more than what they get on welfare? $8 an hour doesn’t get you much but may disqualify you for many of the programs you may still need to survive. Hardly an incentive to make a change. Education and self-esteem are what is lacking for these people.

      • November 15, 2012 at 2:24 pm
        FFA says:
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        They also carry a sense of entitlement. I’m entitled cause I was born. Damn big bad companies turning big bad prifits owe me. How dare they maximize on the American Dream to be all they can be!



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