Obama shows no leadership abilities

The financial collapse of Wall Street banks and investment houses after the housing market had its correction was worse than most investors thought.

Banks had been buying up risky home mortgages, packaging them and reselling them as derivatives to buyers all over the world. Then suddenly, in September 2008, the housing market collapsed. Out of nowhere came a savior promising hope and change. He said he would transform the country.

The derivative-driven housing bubble then made election 2008 a shoo-in for Barack Obama.

We were hoping for beneficial changes in our governing bodies, more transparency, universal and affordable health care, an end to the housing crisis and an improved economy.

What we gained is massive debt and bigger government.

Like a big ship without a rudder, our president has no leadership qualities. No experience at running a business. Business executives are now suspicious of his intent and judge him anti-business. We have succeeded in anointing a charismatic globe-trotter with good teleprompter reading skills to run this country.

Wayne M.

Lovetinsky

Cedar Rapids