Skip to comments.Obama’s Revolting Bankers
Posted on 06/27/2013 8:55:37 AM PDT by Kaslin
On June 17, Barack Obama had one of his most awesome reality TV events of the year when he fired central bank chairman Ben Bernanke on PBS with liberal mope and host Charlie Rose moderating.
He essentially fired Ben Bernanke on the spot and gave him a fairly tepid testimonial afterward, said former Fed Governor Laurence Meyer, in an interview on CNBC the next day.
And the bankers have been in revolt ever since.
The government, meanwhile, has revised the economys performance downward. The newest do-over by government economists comes three months after they gave the economy one of the strongest readings since 2007.
The economy grew at a 1.8% annual rate in the first quarter, the government reported Wednesday, well below previous estimates of 2.4% growth and missing forecasts, reported USAToday
(Excerpt) Read more at finance.townhall.com ...
Astoundingly enough, they’ve stumbled on the ONE issue with the potential to unite both the DUmmies and the Tea Party.
Both are sick and tired of bankers and their shenanegans.
Moral to this story: If you do what “the one” wants, even without him telling you directly what he wants, you will get canned anytime he finds that expedient.
Actually there's the NSA-snooping too. That seems to really cut across
A little less-so, but still some cross-lines, is the IRS-targeting.
Now, if we could tie in the NSA-snooping to the big-banks and/or big-insurance companies profiting — well, I think the result would be… explosive.
Having been a banker for the past 35+ years, I can tell you that bankers don't willingly engage in shenanigans.
They do things that are prudent and they do things that are encouraged by regulators and the government.
The two rarely mesh. The banks that go overboard in doing what the government demands wind up being "disappeared" by that same government.
The ones that resist to a degree that prudence demands either survive or suffer the same fate. It is an extremely difficult balancing act.
The United States has been striving for quite a while to be the textbook example of a backstabbing "friend" or "ally".
Obama has perfected this on a personal level.
No informed, competent entity on the planet would trust the US, it's politicians, judiciary, bureaucrats or many of it's NGO's in the slightest, anymore.
Bank policy is GuvCo policy, the management has little say, few choices and little freedom to pursue their actual purpose.
And the best part? GuvCo gets to hide behind that management when the masses inevitably become upset.
Sweet deal, too bad we're the patsies...as always is the case in an oligarchy such as our GuvCo.
I'm afraid I have to agree.
The Socialist (Marxist) left has collaborated with the MSM to get bankers perceived by the public emotionally rather than analytically.
In the recent housing blowup, there was little reporting on how the Socialist US Government ordered bankers to make residential real estate mortgage loans that there was no probability they would be repaid, after all it was the rich, greedy bankers doing wrong, ignore the Federal bureaucrat behind the curtain.
The only bankers the government and leftists won't talk about are the few that took their banks out of all residential real estate mortgage lending and went commercial business only. None of those had trouble, losses or failed, and they were the only ones that figured out how to not be involved in the government ordered irresponsibility.
The local guy who runs the bank where I do my business...yeah, he does not engage in shenanegans.
I was talking about the Robert Rubin types who hold sway in Washington.
I hope you are retired and living on some nice Caribbean island before the Fake White Indian gets elected POTUS and begins televised public banker floggings.
Shenanegans or not, banks WILLINGLY participate with the IRS. That right there is enough for me to distrust them.
The headline humors me. To be taken two ways. The banks are in a revolt against something, or the banks are revolting, such as you can’t stand them because they are so revolting. Works either way, doesn’t it.
I'm calling B.S. on that one.
BTW, it's "shenanigans".