Obama is again demonstrating his naiveté when it comes to leading America. In the midst of one of the worst economic slowdowns since the Great Depression, Obama is taking actions to actually destroy a major segment of our economic engine:

he financial sector will make up a smaller part of the U.S. economy in the future as new regulations clamp down on “massive risk-taking,” President Barack Obama said in an interview published on Saturday.

Obama, whose young administration has spearheaded a raft of reforms in the banking sector as part of efforts to tackle the financial crisis, said the industry’s role in the United States would look different at the end of the current recession.

…

Obama said some of the job-seekers who may normally have gone to the financial sector would shift to other areas of the economy, such as engineering.

“Wall Street will remain a big, important part of our economy, just as it was in the ’70s and the ’80s. It just won’t be half of our economy,” he said.

“We don’t want every single college grad with mathematical aptitude to become a derivatives trader.”

This is the dumbest thing I have ever seen. It is pure fantasy. Day traders are not engineers (I know I am one working for NASA). While I agree we need to reign in profit-mad risk taking where the taxpayers pick up the mess from people lining their pockets at any cost, shrinking this engine of economic activity is about as dumb as they come.

This is pure social engineering. This is the first time Obama has come full out with a socialistic approach that cannot be ignored or hidden. If he is successful, he will cripple this nation for decades. We can fix the excesses without destroying the engine of capitalism. 

This is what you get with a 3rd grade understanding of the world. Idiocy.