Sunday, April 25, 2010
Financial Reform BS
The Republicans need to mention that prime culprits Fannie Mae and Freddie Mac are not included in the financial reform bill. Then they need to talk about the architects of the bill, Barney Frank and Chris Dodd and expose their involvement in the financial crisis. (There are you-tube videos of them showing their involvement). Regarding the bill, who will determine what is a good risk from a bad one? That leads to the problem of giving the government (Obama & Geithner) control over these institutions, with intimidation and coercion; and if the institutions do not cooperate with the Obama administration, they will be put out of business. After all it's the CHICAGO WAY. They should also point out the contributions made by these financial firms to the Democrats. Speaking of lobbyists, Goldman Sachs CEO came to the Whitehouse 4 times, contributed over a million dollars to Obama’s campaign, and will want payback. This leads to the coincidence of the timing by the SEC of the investigation against Goldman Sachs to push for financial reform, which the Obama administration claims they had nothing to do with. Goldman Sachs need not worry though, because as I said they contributed immensely to get Obama elected and they are one of the institutions that will be implementing Cap and Trade. Obama mentions he wants to get the money back for the taxpayers and he is going to charge a fee to the banks to set up a slush/bailout fund. Where does he think the banks are going to get the money? They are going to get it from their CUSTOMERS, the American taxpayers. This financial reform bill is nothing more than a powrer grab and ultimately will be costly to the American citizen by increased bank fees. I hope that the Republicans can get the message out and the Senate Republicans will not cave and go along with this scheme.