Posted on 09/18/2008 8:16:58 AM PDT by GOPFlack
The Securities and Exchange Commission can blame itself for the current crisis. That is the allegation being made by a former SEC official, Lee Pickard, who says a rule change in 2004 led to the failure of Lehman Brothers, Bear Stearns, and Merrill Lynch......
My Comment: Worth Noting, this disastrous move was initiated by Bill Donaldson (former SEC Chair and Obama supporter). Also, when the Dems tried to endorse it later in the Senate Banking Committee, it was opposed by all Republicans and supported by all the D's on the Committee.
(Excerpt) Read more at nysun.com ...
A refreshing and fair article from the NY Sun. Nice to see some truth out there.
Wait a minute. The Senate Banking Committee?
Isn’t that Barack Obama’s committee? That’s what 0 tried to tell us when he was in Germany to make A Really Big Speech.
Bump
Can we keep this bumped to the top please.
No, that would be the Committee of Chris “Countrywide” Dodd and Chuck “Fannie” Schumer
BUMP
CHRIS “COUNTRYWIDE” DODD AND CHUCK “FANNIE” SCHUMER
http://blogs.abcnews.com/politicalpunch/2008/07/two-former-bush.html
Donaldson an Obama “economic advisor.”
Did GWB appoint Bill Donaldson (former SEC Chair and Obama supporter) to chair the SEC.????????????????Yes he did !!!!!!!!!!!
I’d like to know just how much fear is Senator Charles Schumer creating just to drive the market down. Does he have a thing against his constituents in New York City?
I don’t understand what you mean when you talk about the Senate Banking Committee trying to “endorse” the rule. The SEC is an independent executive branch agency which has rule-making authority under the Administrative Procedures Act. Its rules don’t require legislative branch endorsement.
Did anyone happen to listen to Coast to Coast AM last night? George’s guest was David Icke. To watch David in depth, Google Coast to Coast AM TODAY and watch his Turning Point. Take the time to watch all of the video. I think you’ll find it very thought provoking. It was produced in 1996, but explains what is happening today worldwide.
Is it true that 0bama is the head of the Senate Banking Committee? If true, for how long? Most people don’t understand ‘this banking mess’, their words, and don’t know who to blame, but if we put it out in as simple terms as possible, emphasising financial instution failures, this could win it for us.
Obama’s relationship to this banking mess traces to his two top financial advisers and his work as a community organizer.
You see it was the community activist groups who used the term, “red-lining”, to label the high loan qualification standards as, racist. ACORN was formed with this activity in mind.
Politicians on both side of the aisle started jumping through hoops to facilitate the extension of loans to people who had no ability to repay the loans.
Republicans may try to compete with the Democrats in the area of race relations, but they never get the benefit of their actions. The Democrat politicians are the ones who have been running the show and lining their pockets, the Democrats and their private industry cronies.
This is pure fascism.
0 claimed that he helped get a certain bill passed in hte Banking committee, but it turned out he’s not a member of that committee. 0 is a compulsive liar.
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