The Obama Regime is looking to pass financial reform to try to regulate the financial industry after the collapse of our system, a collapse that was the result, in part, of government regulations over the financial industry. The new rules will create a perpetual bailout system for financial entities deemed too big to fail. These organizations already knew they would be bailed out because they are in the pockets of the politicians. They get to be risky with their money and if it pays off they earn lots of money and if they lose we get stuck with the bill.
The SEC completed a 9 month investigation into Goldman Sachs and determined that the Wall Street giant engaged in deceptive practices. The announcement came just as Obama was pitching his new crisis that could only be resolved with government reform. This is not a coincidence. The announcement was timed to help Obama with the legislation.
Interesting thing though. Obama received almost 1 million dollars from Goldman. The big questions is, will he give it back?
I doubt he will and there is a reason. Goldman Sachs (as well as other Wall Street businesses) stand to actually benefit from the legislation that has been introduced. It is not beyond the realm that they are actually involved in getting it passed because they will benefit from it. Chris Dodd has his hands all over this and he has been such a sleazy friend of the financial industry that his corrupt dealings cost him his Senate seat. He will not run because his constituents are on to how corrupt he is.
This is another overreach by the government. It controls a large part of the country and it wants to control more. Reform is needed just like it was in health care but the Obama idea of reform is to completely takeover an idustry.
We need to stop the madness and we can do that in November.
Related:
New York Post
Never surrender, never submit.
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