Liberty MavenObama ready to give Ron Paul and HR1207 the finger
June 17th, 2009 8:15 am | by Marc Gallagher | Published in Activism, Big Government, Commentary, congress, Federal Reserve, Free Market, Liberty, Market Regulation, Maven Commentary, Obama, Ron Paul | 1
Obama is set to announce some truly sinister regulatory changes today. Changes that will make Ron Paul and other anti-Federal Reserve crusaders ill. How convenient for this news to arrive right after Ron Paul’s HR1207 surpassed a House majority.
To get that sick feeling one need not read beyond the first part of this USA Today story:
President Obama on Wednesday plans to unveil the most sweeping overhaul of financial market regulation since the 1930s in response to a Wall Street crisis that sent the economy into an epic tailspin.
His plan would give broad new powers to the Federal Reserve, abolish the Office of Thrift Supervision, establish a new watchdog agency to protect consumers, and more tightly regulate hedge funds and derivatives, according to a senior Treasury Department official.
Yeah, that’s what the Fed needs: Broad new powers! Hopefully Obama is truthful when he speaks about his new plan. he should begin with, “Hello America, let me introduce you to your next iteration of Progressivism or Socialism or Fascism. In fact I’m going to “ism” you to death.”
My Fed-ache just reached migraine status again. When will our long national Obamagasm be over?
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June 17th, 2009 at 6:32 pm (#)
I just listened to Presidnet Obama's Teleprompter speech # 4,361.____Yes, he pretty much handed over all powers of the SEC to the Fed. In fact, you can tell that this entire speech was written by The Fed. It had overtones of remorse from the FED. Maybe even a little humility such as ( "we need to watch out more for the American people"). Oh how warm and fuzzy that sounds. ____Obviously the FED is really scared. The Fed Chief will now have all powers over all Financial Institutions.Which will result in even more red tape. And that will pretty much put the smaller and more well run Banks out of business to make room for the larger more corrupt ones. It was a brilliant Chess Master move on the part of the FED. And during the entire speech, not once did President Obama announce any guilt what so ever of the Federal Government in the Financial crisis. Not one word about the Government forcing bad loans VIA Fannie May and Freddie Mac.