Posted on 04/22/2010 8:37:00 AM PDT by richardb72
If President Obama's financial regulations are adopted, there will be fewer loans, credit will be more costly, and individuals will face more risk. Obama argues today that his reforms are necessary to prevent "a second Great Depression" from occurring, but he does nothing to fix what the government did. Nothing is done to reform Fannie Mae and Freddie Mac, despite their problems with fraud and costing taxpayers $400 billion in bailouts. Nothing is done to change government regulations that force banks to make risky mortgages.
The powers that would be given to the president and the Federal Reserve are unprecedented. The bill gives the government the power to regulate the capital, liquidity and permissible activities for a long list of firms, including securities firms, insurance companies, bank holding companies, hedge funds, finance companies as well as others. The government will be also able to limit the size of these companies.
The president claims today that he "believe(s) in the power of the free market." Yet, he is constantly demonizing companies. Even liberal New York City Mayor Michael Bloomberg warned: The bashing of Wall Street is something that should worry everybody. According to Obama, there is "an ethic of greed, corner cutting, insider dealing, things that have always threatened the long-term stability of our economic system." In contrast, for government, Obama identifies its only failure as not doing enough regulation, not doing enough to control companies.
The regulations demonstrate that the president ignores or doesn't care to know how markets operate. . . .
(Excerpt) Read more at foxnews.com ...
Obambi: “let me close by saying this” and he kept on speaking for over six min.!
Only to those with eyes to see and ears to hear. His agenda is government control of everything and one party control of government. It's for our own good.
It’s all part of the plan, Comrade. All part of the plan. ;)
Let’s see him find the credits and debits on an Accounting 101 Balance Sheet. What? Poli-Sci pukes don’t take Real World subjects?
I’m listening to Rush, too.
0bama is a lying POS. Not just on this issue, of course...
Big /S if needed!
I happy for you, Diana. My stocks are tanking..:(
Rush keeps us sane. I am furious (again). Completely sick of hearing the Marxist lie.
He’s actually talking about “Greg Craig” like he’s ethical! GC of Clinton fame.
I wish I knew what that meant.
My mistake. It was union thugs. What an arrogant bastard Obama is. I interpret this strange mix of suits and hard hats as O intimidating Wall Street executives with physical violence. I don't know, though. They didn't turn the camera around to show the audience.
>According to Obama, there is “an ethic of greed
Yes, and you and your henchmen in congress crave power hence your greediness for it.
You SOBs keep pushing us working people that pay all our taxes and fight for
America too far and you’ll find that power used against you.
A reference to Harry Potter (that’s why so many thought he should have entered Slytherin because the House was founded by someone who spoke to snakes, which is called ‘being a posselmouth’).
Oh, I have stocks too, LOL! One goes up, the other down when he opens his yap.
He'll probably get a sickening round of applause..
The only gold I own is what I wear. Maybe I should buy more, LOL.
Oh gosh. I’ve seen the movies, but not read the books. But I tend to forget movies almost as soon as I see them. Thanks for splainin! :)
Or sell some of it! I took my ‘Bling From Boyfriends Past’ to a jewelry sale a few weeks back and made a quick $500.
It went directly into my ‘Escape 0bama Fund.’ I’ll use it to support candidates this fall that can kick his @ss. :)
You go girl!
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