Obama's G20 plan kisses off Declaration of Independence

WND ^ | April 10, 2009 | Jerome Corsi

[RobinMasters]

At the G20 meeting in London, President Obama agreed to create of an international board with authority to intervene in U.S. corporations by dictating executive compensation and approving or disapproving business management decisions, Jerome Corsi's Red Alert reports.

Political consultant Dick Morris said that by agreeing to create the Financial Stability Board, Obama is a "willing accomplice" to a decision that effectively repealed the U.S. Declaration of Independence and abrogated the sovereignty of the United States.

[Doogle]

...unless it's challenged and settled by SCOTUS as illegal.
the rats will push anything through....damn your freedoms and protected rights!

[ought-six]

Treason!

[ought-six]

Congress can overrule and rescind this decision and render it null and void. But with the Rats (i.e., commie globalists) controlling Congress by a large margin it will not only allow this to stand, but will applaud it and will cheer the dissolution of America as a Constitutional republic.

The time for the pitchforks and torches is here, folks.

[cripplecreek]

Of course it is.

Unfortunately its easier to watch the dismantling of America than to face ridicule of being called a conspiracy theorist.

[autumnraine]

Or a Tim McVeigh.

[autumnraine]

And I truly feel like God gave us an out with the birth certificate issue. The question is, will we take it?

[chainsaw]

At the G20 meeting in London, President Obama agreed to create of an international board with authority to intervene in U.S. corporations by dictating executive compensation and approving or disapproving business management decisions,

Our gutless resident wants someone else to do the dirty work.

Did any other country agree to this nonsense, or stipulate they would do the same?

I guess the liberal democrat CEO's that supported zerO are going to get what they voted for.

[chainsaw]

And I truly feel like God gave us an out with the birth certificate issue. The question is, will we take it?

Only after the supreme court has been labeled superfluous and attempts to dissolved it by congress, will the SC act.

[EBH]

It was the Washington Action Plan, not the rest of the G20. It was our own representatives and President that sold us out.

---

16. To this end, we have taken forward the Washington Action Plan. We set out the detailed reforms in our attached statement, “Strengthening the Financial System”, and the updated action plan. In particular, we have agreed:

• to expand the Financial Stability Forum to include all G20 countries and to reestablish it with a stronger mandate as the [Financial Stability Board]. It will drive the development of common principles and standards of regulation, strengthen international co-operation between regulators and policymakers, and, together with the IMF, identify and report on the build up of macroeconomic and financial risks;

• to work closely and systematically, in accordance with the Financial Stability Forum framework, to supervise cross-border institutions and to complete the establishment of colleges of supervisors for all significant cross-border financial firms;

• to improve over time the quality, quantity, and international consistency of capital in the banking system. Capital requirements should not be strengthened until a significant and sustained economic recovery is assured and the transition managed to ensure that the extension of credit is not constrained. Regulation should limit leverage and require buffers of resources to be built up in good times which banks can draw down when conditions deteriorate;

• to extend regulation or oversight to all financial markets, instruments, and institutions, including hedge funds, which are individually or collectively of systemic importance, so as to limit the risk to financial stability from gaps in our systems;

• to endorse the FSF’s common principles on pay and compensation in financial institutions. These ensure compensation structures reward actual performance, support sustainable growth, and avoid excessive risk-taking. We have asked our supervisors to implement these principles;

• to take action to identify non-cooperative jurisdictions, including tax havens, and to stand ready to deploy sanctions to protect our public finances and financial systems. We have today published a list of jurisdictions that have not committed to the international standard for exchange of information on tax. We call on the Global Forum, the FATF, and the [Financial Stability Board] to identify, for the next meeting of our Finance Ministers, jurisdictions not implementing the relevant international standards;

• that standard setters should work with supervisors and regulators to achieve consistency of valuation methods and a single set of accounting standards;

• to extend regulatory oversight and registration to Credit Rating Agencies whose ratings are used for regulatory purposes to ensure they meet international codes of good practice to prevent conflicts of interest.

[tentmaker]

“Supervisors will assess firms’ compensation policies as part of their overall assessment of their soundness. Where necessary they will intervene with responses that can include increased capital requirements.”

[Fast Moving Angel]

Financial Stability Board? So Directive 10-289 can’t be far behind.

[StopBigGovt]

Wow. Thanks for the link!