Posted on 01/25/2010 9:29:05 AM PST by Starman417
He already wanted to tax the banks for having the temerity to turn a profit with the bailout money (wasn't that the point, to get the banks into the black again?), so the new plan to break up the banks is not different in kind. What IS different is the atmospherics.
The move, immediately after Obama's election defeat in Massachusetts, seems to have been very sudden, catching even his closest allies by surprise. With no warning, the previously "indispensable" Timmy-boy Geithner was cast aside in favor of the Depression-era nostrums of Paul Volker. Obama didn't even take the time to get the Congressmen who stood with him at the announcement on board:
Mr Obama’s more populist tack on Wall Street re-regulation failed to attract endorsement from Chris Dodd, chairman of the Senate banking committee, even though he was present when Mr Obama made the announcement.
The announcement was also described by insiders as "political":
“The Obama proposals were clearly politically motivated and came from the White House not the Treasury,” says a Democratic adviser to the administration, who withheld his name.
Just what does "politically motivated" mean, at a point in time when the nation was looking for Obama's initial reaction to the Massachusetts referendum on Obamacare? And it was a referendum. Obama made sure of it, announcing about the Massachusetts election:
Read more at floppingaces.net
No, he is lashing out at America because he is a communist and hates the American experiment with freedom.
He simply knows that he has to push his marxist agenda now that Democrats (+ Rinos) lead Congress and Senate.
That was my first thought, too. The Boy King is having a temper tantrum.
His overwhelming ego fraught with hubris will not take rejection or dissension well, so we can expect to suffer even more from his hegemonic, socialist wrath.
Reject Obammy?
I covet my dogs pooh more than this marxist p.o.s.
Clearly...Americans have problems with their “core values” and Oduma is out to rectify that...
Nope, I think it was his intention all along.
Well, it may have gotten worse, but I’m pretty sure Bambi has been lashing out at America every chance he gets, for a long while...
zerO’s naked marxism is starting to embarrass even liberal fools like Dodd and Frank, and is leading squishy RINO elites like Noonan to use the term “nut” in open print
That and he is not able to cope with such a big narcissitic injury:
http://joytiz.com/2010/the-decompensation-of-a-president/
I’m no economist but I’m very concerned over this continuing ‘closing’ of banks as well. It was up to 9 for the year so far. As a nation, we’ve become ‘desensitized’ to hearing about the feds closing banks/regulators going in and ‘closing’ banks through the years, however, there is an agenda at work for months now, closing the small town banks (imo)some of which sounded healthy (took finance but can’t remember the ratio of assets/cash on hand to loans required). I’d appreciate some input on that theory.
“The beauty of being a narcissist is that even when disaster stares you in the face, you feel neither doubt nor remorse.”
Carl Vogel
BO is an virulent anti-american and has been for 30 years. Go listen to his spirtual advisors, Wright and Farrakhan.
Obamao’s plan has always been to destroy the US, but he wanted us to love him while he did it. Now that the love is dying, he is free to speed up his plan.
My suggestion is to read up on ‘Central Planning’ economics.
Obama announced after being sworn in that the government will be guiding the ‘invisible hand’.
Seems if you know your history, it becomes clearer.
I will...thank you.
Can’t help with finance questions, but the idea seems to be a total government takeover which will force us to use Obama-controlled banks, autos, homes, grocers, churches, etc. in an effort to deprive us of any income above his allowed limit.
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