New Zeal: Obama File 101 Who’s Been Fibbing Then? Evidence That Obama Was Deeply Involved in…

3 Responses to “New Zeal: Obama File 101 Who’s Been Fibbing Then? Evidence That Obama Was Deeply Involved in…”

  1. [this is good] Marvelous article.

    “Obama’s $50 billion resolution fund for bankrupt banks is unnecessary. What we need most of all is to have the Federal Deposit Insurance Corporation, the Comptroller of the Currency, and other regulators enforce the applicable laws. Every Friday, Sheila Bair of the FDIC shuts down a number of small town banks because of insolvency. In her interview yesterday on CNBC, Ms. Bair blatantly admitted that she has no intention of enforcing these same public laws against the large Wall Street and other money center banks. She covers this malfeasance and nonfeasance with her opinion that bankruptcy does not work for the big banks. But there is little doubt that, if their massive derivatives holdings were priced according to mark to market rules, J.P. Morgan Chase, Citibank, and Bank of America would all be thoroughly insolvent candidates for Chapter 7 liquidation. Unless and until this is done, these zombie banks will continue to block any real economic recovery in the United States. Ms. Bair’s policies showed the destructive folly of the current administration’s illegal policies, which are all based in the final analysis on the discredited doctrine of Too Big to Fail.”

    True believers in capitalism would demand these banks be shut down.  I do.

    But the crony relationship of the largest financial institutions with corrupt legislators stills the Hand of Adam Smith.  There is no penalty nor deterrent for malfeasance.  This is a feature of the system that is unchanged despite the changing of elected government, (it was exactly the same under Bush and Clinton except that it just gets worse despite the party politics).

  2. I just posted a four part video called “Crime Inc.”  I think you’ll see a connection as to why these bailouts occurred, why the rising spending and debt, and who are raiding the treasury.  There’s more to it, but you’ll see.  I’m not asking for  instant believability, but your opinion.Incidentally, the author of the above blog post is one of Beck’s favorite (and frequently used) researchers.

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