O's hollow promises: His 'reforms' won't fix finance

NY Post ^ | April 22, 2010 | Nicole Gelinas

[Scanian]

President Obama hits Lower Manhattan today to chastise Wall Street ahead of a Senate debate on fixing finance. Problem is, he's using his bank-bashing to push a bill that doesn't deliver what he's promising.

Obama pledged Saturday and likely will today: "Never again will taxpayers be on the hook because a company is 'too big to fail.' " This reform is vital. No business should be able to expect government bailouts, of course -- but it's especially dangerous when it comes to banks.

When lenders to banks believe they'll be bailed out, they inevitably create too much debt -- because they'll profit as long as the investment works, but have their losses covered by the taxpayers if it blows up.

[cbkaty]

Hidden in the 1400 pages....a new "office".....with the power to monitor all financial transactions by all institutions and.........thus all people. The feds will know of every penny we log through a financial institution.....

Mark of the beast?

[Paladin2]

Zer0 seeks to enslave The People as chattel of the gov’t.

[cbkaty]

FYI...by financial institutions I mean, banks, brokerages, credit cards, any electronic transfer of funds...anywhere.

[cbkaty]

If the feds can monitor all your financial transactions, can they also.....deny them?

[MNJohnnie]

Just more bread and circuses for the Media machine and us peons. The 0 regime needs a scapegoat to blame all their current woes on. Hitler used the Jews, Obama uses Wall Street. It is all just a PR farce.

Least anyone be fooled by the current populist posturing of the Obama regime, here is the list of who paid the most to put him in the White House

Current List of Top Contributors to Barack Obama

http://www.freerepublic.com/focus/f-news/2497367/posts

[jtill]

According to the so-called health care bill, the feds can electronically transfer funds to and from ANY of our accounts.