Right on the heels of his proposed tax on financial institutions, the President is now calling for severe new restrictions on the size and activities of our nation's banks.

In his latest press conference, Mayor Bloomberg blasted Obama's plans, noting that banks are the foundation of New York's economy. In last week's press conference, Bloomberg warned that Obama's new taxes would transform New York into Detroit.

As so many of our residents work in New York's financial sector, these new taxes and regulations are bad for Hoboken, too. Local concerns aside, is this any way to "stimulate" the nation's economy? The market, apparently, doesn't think so. Stocks plummeted after the plans were announced.

In related news, a recent poll found that 77% of investors view Obama as "anti-business."