Posted on 10/25/2012 3:10:29 PM PDT by SeekAndFind
Our president made his fifth visit to the "Tonight" show with Jay Leno on Wednesday evening, and for me, one of the most painful moments of the interview came when the president yet again paraded his woefully inept and downright disquieting economic sensibilities by once more heaping blame on Everybody's Favorite Financial Crisis Scapegoat, big finance. Stay with me, 'cause I'm running through this one line-by-line:
They’ve learned that I keep my promise to make sure that they pay back every dime with interest, which they have. We passed Wall Street reform, which they fought tooth and nail. But, what it did was is it made sure that they can't make some of these same reckless bets.
One of the biggest drivers of the financial crisis was the federal government creating artificial, politically-driven incentives that moved these financial institutions to even make these “reckless bets.” Finance isn’t blameless, but how is more government involvement and control a desirable idea?
They’ve got to keep more capital so that if they make a bad bet, taxpayers don’t pick up the tab.
Yes, Mr. President — because of all people, you’re in a wonderful position to make sure taxpayers don’t pick up the tab of poor decision-making. (Ahem, stimulus, bailouts, green energy boondoggles, trillion-dollar yearly deficits, cough cough).
We put in place this consumer advocate that will work with families all across the country on things like mortgages, credit cards, payday loan operations, so that people have more information and they don’t get tricked into bad financial deals.
“I’m from the government, and I’m here to help.” Please, save us.
But, look, these financial institutions are in to make money and that’s why we need some smart regulations and this is an example of the difference in this campaign because my opponent says he wants to roll back all those regulations. These folks are not going to do it just out of a sense of guilt of what happened previously or because suddenly they feel charitable.
Firstly, the president has yet to sufficiently explain why a large, entrenched bureaucracy seeking political gain through fiat is somehow nobler than a private, productive business seeking monetary profit by meeting consumers’ choices. As Ammon Simon writes for Forbes, Dodd-Frank is the very definition of tyranny. Secondly, Mitt Romney and Paul Ryan are not financial anarchists, but yes, they do want to roll back these new economy-damaging, job-killing, small-bank-sinking regulations still being written that are protecting large institutions “too big to fail” status rather than mitigating it.
Rant, over.
I like it. But I think HUD needs to move to South Central Lost Angeles - to revitalize the area, you know.
“Bush: 1,300 convictions; Clinton: 1,000 convictions; Obama: Zero attempts.”
Because Obama is a whore for their donations and lucrative offers next year.
Muslims do not believe in interest or profit where money lending & money borrowing is concerned.
Obama is just being very true to his real religion.
If Lost Angeles is not near a major population center and is white, I have no problem with it. In fact, the government can rename some federal land to Lost Angeles. My candidate for that is Thoroughfare, WY. Although, it could be argued that inhabitants of Thoroughfare are brown, as in brown bear ... Grizzly.
Obama seeks money that doesn’t belong to him, therefore he must be removed from office.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.