The old Tombstone quote, “my hypocrisy knows no bounds” is so fitting with this administration. It was just a few weeks ago when Obama claimed that Obamacare was based upon conservative concepts. That was pretty laughable, but it does not stop there. I saw a video of Obama using the class warfare card again (one of the many things he and FDR have in common). In the video he demonized Wall Street for taking advantage of the people on Main Street and then getting bailed out. In another recent speech he demonizes the special interests and lobbyists of these firms.
All of this while he is pushing a Wall Street Regulation bill that was heavily influenced by these lobbyists and creates a permanent bank bailout (that’s your tax dollars main street). Once again Obama is saying one thing, but doing another. This is no surprise though as he has extensive ties to these big financial firms (just read Michelle Malkin’s Culture of Corruption). So this is how it works….big firms give money and support to Washington, Washington gets control over the industry and in turn ensures these firms that they can continue to take on as much risk as they want with no fear of consequences. They will not even have to go to Congress this time, because this bill will create another fund made up of your money to bail them out once again. In essence they are feeding the problem instead of fixing it and hoping the American people are not smart enough to figure out what they are doing. It is another extremely anti-capitalist policy from this administration (which is, by the way, another thing FDR and Obama have in common). As I alluded to above, its not just Obama’s hypocrisy, the bill in itself is bad news. It is similar to the HR 4173 that has already passed the House. In addition to what I wrote before, liberals in Congress tacked on a few other little takeovers that have absolutely nothing to do with financial reform. (I did not see them before, but were picked up on by some journalists) Two in particular in the House version of the Bill give additional powers to the FTC over the internet and over the vitamin industry. The latter is something that has been pushed by the big pharmaceutical companies for a while because they are losing market share to these companies…can you say kickback for supporting Obamacare. I think you can. Anyways, what a place to hide them…in a 2,000 plus page Wall Street bill. As far as the Senate version…Here are the 14 fatal flaws pointed out by the Heritage Foundation. Happy reading.
{ 1 trackback }
{ 1 comment }
you have got everything correct here tsc. the only thing is it’s more sinister than you write. obama doesn’t call the shots in washington and neither did bush. now about dodd’s bill.
the federal reserve runs finance, and through finance, the economy. congress and the president go through the motions of being in charge, but it’s an illusion. one that the fed prefers. it runs the economy based on a government established legal monopoly over the money supply, yet it supposedly is independent of government. it’s a sweet deal. congress goes along, most of the time. when the house of reps got enough co-sponsors to pass hr 1207, audit the fed, i knew the senate would not go for it. enter retiring senator chris dodd’s bill. for the first time 1914, there are millions of voters aware of the destructive power of the federal reserve system. they want it audited. this has the fed on the defensive. the senate will not adopt any fed-audit provision. the fed will still be in control. dodd’s bill will be law this year and banks will still be too big to fail, they will still be provisioned for bailout and the federal reserve will still be in control. dodd’s bill is more dangerous than obamacare. the answer is the three G’s.
Comments on this entry are closed.