“Obama and the banks are on the same side. “
I dont disagree but for the banks not to defend themselves would make this even more interesting.
My first reaction was that this is a show trial for Obama far left base in order to get them really riled up that Obama is really fighting against those evil capitalists on Wall Street.
But why would the banks just allow themselves to be damaged this way?
It would seem to me that the Obama administration is biting off more then they could chew possibly. Banks that were friends may turn against him. Democrat corruption may be exposed by banks legal teams in efforts to fight back.
Being a retired banker, all I can say is what a farce. Desktop Underwriter was a Fannie product which approved or disapproved a loan at time of application. So now after Fannie approved a loan and it was bundled, it’s the banks fault that some of the loans went bad? What a joke
“My first reaction was that this is a show trial for Obama far left base in order to get them really riled up that Obama is really fighting against those evil capitalists on Wall Street.
But why would the banks just allow themselves to be damaged this way?”
They won’t. They’ll fight it. But I see two things going on here. First, Obama needs to get money from somewhere to fund his socialist projects and to continue to change America from what it always was to what he wants it to be, his Socialist Utopia (which will actually be a Socialist cesspool). So, he needs money, there isn’t any left, so he will try to rob the banks to get money for his regime to spend up.
Second, Obama is basically more of a Fascist at heart than even a Socialist. Remember, the Fascists were both that and socialistic at the same time. Obama, just like Hitler and his henchmen, exert power over the Industrialists/Bankers of our country, fluctuating between doing them favors and then threatening them in the same breath. It’s how they maintain control over the “monied aristocracy”, alternatively giving with one hand while taking away with the other. A favorite time honored trick of despots throughout history. Putin uses the same techniques over in Russia with the Russian oligarchy. In cahoots with the industrialists, however always letting them know who the actual boss is. Obama doesn’t look like Mussolini with that jutting jawline of his for nothing. He is a petty tinpot dictator in the making if he could get away with it (actually he has been when you think of it, via Executive Orders and Agency regulations).
But why would the banks just allow themselves to be damaged this way?
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They have to comply because big government has become big mafia. They threaten lawsuits and new regulation. They decide who is “too big to fail” and who does not matter. They decide the private little bank is in trouble and dissolve it arranging the sale of all assets to “preferred banks” at pennies on the dollar.
The mafia never had it this good anywhere in the world. Big Government has become the ultimate mafia and they control it all.... including law enforcement. They can’t lose. The little banks and big banks only exist because Uncle Sugar allows them too. When they struggle Uncle Sugar decides their fate.
Who is in charge we ask? The same banksters who will soon leave after their “public service” and get multi-million dollar jobs from their old employers. Who are their old employers? The banks that are too big to fail and are given free money to buy smaller banks at pennies on the dollar. It’s pretty good work if you can get it!
I laugh when I hear about the “excesses of Wall Street”. Name any part of government that influences the economy or markets that is not firmly under the control of Wall Street. Look at the cabinet positions, the Fed, regulatory agencies, etc. It’s pure incest.
They created the bubble and made billions. They let the bubble pop and made billions. They are the same people in charge. They can’t lose and they are becoming very wealthy.
We must demand the truth!