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Published on Tuesday, June 23, 2009 by GRITtv
Will Obama Regulate Wall Street?
Obama's regulation policy is being carefully scrutinized. Will he subject banks, rating agencies, and financial institutions to the kind of regulation that many think necessary to prevent another financial train wreck? Or will he simply give more power to the Fed?
William Black, Professor of Economics and Law at the University of Missouri-Kansas City and a former senior bank regulator, Nomi Prins, Senior Fellow at Demos and author of It takes a Pillage: Behind the Bailouts, Bonuses and Backroom Deals from Washington to Wall Street, and Les Leopold, Huffington Post Contributor and the author of The Looting of America on the President's regulatory policies.
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Show AllHe's already announced his intention to give more power to the Fed. We're in for it. Back to foxes guarding hen houses.
When the people fear their government there is tyranny,
when the government fears the people there is liberty.
~ Thomas Jefferson
The centralization of the bankster industry and the Fed is a very dangerous development. In true Orwellian fashion, something that is being pitched as regulation is actually giving more control to fewer people, the potential for fraud, abuse and gaming the system is increased. The Foxes don't just guard the henhouse, they now own it.
and we are the hens...
The answer to the title of this piece is NO.
BeForKids, You are right. The next election we must make them fear us. How? Dont pay one penney of taxes. They cant lock everyone up. Or can they? Bush and Cheney killed millions, there are prisons they built, knowing th people will one day revolt. Obama lied like Bush and Cheney. We must impeach him.