Posts
The White House
But that did not happen. And that’s because special interests have waged a relentless campaign to thwart even basic, common-sense rules – rules to prevent abuse and protect consumers. In fact, the financial industry and its powerful lobby have opposed modest safeguards against the kinds of reckless risks and bad practices that led to this very crisis. [What I'm not telling you: Did you notice the change from 'financial reform' to 'Wall Steet reform?' I decided that it's easier to vilify those 'ruthless' [albeit-hardworking], millionaire Wall Street types than it is to create a generic villain by using 'financial reform.' The funny thing here is: the consumers and shareholders DO HAVE THE AUTHORITY to make decisions; they can partake of the services and products as offered or they can opt out-how tough can that be?? In the modern era, beginning with FDR, continuing through JFK, LBJ and the "Peanut Farmer,' picking up again with "Slick-Willie" and now me-the "Clown Prince" or Fluffy obama, the democRAT party has succeeded in making nearly fifty percent of the American adult population dependent upon the federal government!! These folks--unaffectionately known as welfareRATs--are dependent upon working taxpayers like you and me--through the federal "wealth redistribution system"--for their 'walkin' around' money, housing, heat, food, cars, and in New York State--their children's school supplies, even if NO CHILDREN ACTUALLY ATTENDED SCHOOL!! The creation of this 'dependency class' of Americans has evolved so far as to protect them from themselves in practically ALL financial concerns; to arrange for 'no pay back' mortgages to put them into housing they can't afford nor have any intention of repaying!!
With great thanks to Franklin Delano Roosevelt {FDR} we're now seeing FOUR GENERATIONS of families that have never held a job; they're born welfareRATs and they die welfareRATs!!
"The Great Society" of Lyndon Baines Johnson {LBJ}--with all the high-cost, low-expectation programs--inhanced the dependency rolls far more than any other program in history!! I intend--as part of my legacy--to outdo Mister Johnson by three-fold, at least!!
"Slick-Willie's" Welfare Reform program of the '90s was really a clever 'slight-of-hand' in that he never actually reduced the numberss in the dependency class. He just changed the address from which their checks and benefits came: From the Welfare System to SSI..... now HOW CLEVER IS THAT?!?!
I gotta' tell ya'.... the American Taxpayer is probably the most gullible being on the planet!! And I'll tell ya why: All through my "Campaign of Fluff," I preached about transparency in my dealings with you, the Congress, everything concerning the White House. One of the points was publishing ANY AND ALL pending legislation onto the internet so the voters could have FIVE DAYS to read and digest the information. Have ya ever seen it? ABSOLUTELY NOT!!! I'm now going to use the same gullibility to my best advantage: by preaching for transparency in EVERY DEALING with the American people, EXCEPT MY OWN!!]
The consequences of this failure of responsibility – from Wall Street to Washington – are all around us: 8 million jobs lost, trillions in savings erased, countless dreams diminished or denied. I believe we have to do everything we can to ensure that no crisis like this ever happens again. That’s why I’m fighting so hard to pass a set of Wall Street reforms and consumer protections. A plan for reform is currently moving through Congress.
Here’s what this plan would do. First, it would enact the strongest consumer financial protections ever. It would put consumers back in the driver’s seat by forcing big banks and credit card companies to provide clear, understandable information so that Americans can make financial decisions that work best for them.
Next, these reforms would bring new transparency to financial dealings. Part of what led to this crisis was firms like AIG and others making huge and risky bets – using things like derivatives – without accountability. Warren Buffett himself once described derivatives bought and sold with little oversight as “financial weapons of mass destruction.” That’s why through reform we’d help ensure that these kinds of complicated financial transactions take place on an open market. Because, ultimately, it is a marketplace that is open, free, and fair that will allow our economy to flourish. [What I'm not telling you: ALL those 'consequences of this failure of responsibility' can be traced to two people--TWO democRATs--"Slick-Willie" Clinton and then-Secretary of Housing and Urban Development, Andrew Cuomo!! In their haste to enhance the 'Dependency Class' rolls, they FORCED 'Freddie Mac' and 'Fannie Mae' to write and back mortgages to those who couldn't verify their work status or income level; even those who HAD NO INCOME!!
The financial reform legislation moving through Congress now will ONLY SECONDARILY enhance Americans' financial protections; the primary aspect of this legislation is CONTROL!! IF PASSED, this legislation will give me--or ANY American ruler--unheard of power over the electorate!! I will be--WITHOUT debate with anyone, or approval from anyone--the SOLE AUTHORITY which will determine what companies, large or small, profitable or unsuccessful, survive and grow OR collapse and die!! This power will cover such mundane topics as: only allowing the two or three best washing machines to continue; the rest will 'go away' with a stroke of my pen!! Isn't that much control AWESOME?!?! Yes, those large financial companies made 'huge and risky' bets-i.e., the hedge fund and derivatives markets. The big mistake here was mine--although I'll never admit it in public--determining that those financial institutions were 'TOO BIG TO FAIL!!' In a real--non-socialist--economy, NO PRIVATE ENTITY IS 'TOO-BIG-TO-FAIL!!!' Deeming any entity as 'TOO-BIG-TO-FAIL' only rewards ineffective business practices and poor management.]
We would also close loopholes to stop the kind of recklessness and irresponsibility we’ve seen. It’s these loopholes that allowed executives to take risks that not only endangered their companies, but also our entire economy. And we’re going to put in place new rules so that big banks and financial institutions will pay for the bad decisions they make – not taxpayers. Simply put, this means no more taxpayer bailouts. Never again will taxpayers be on the hook because a financial company is deemed “too big to fail.”
Finally, these reforms hold Wall Street accountable by giving shareholders new power in the financial system. They’ll get a say on pay: a vote on the salaries and bonuses awarded to top executives. And the SEC will ensure that shareholders have more power in corporate elections, so that investors and pension holders have a stronger voice in determining what happens with their life savings. [What I'm not telling you: There NEVER should have been bailouts of any sort, for anyone, anywhere; be they Goldman Sachs, General Motors, Chrysler, Citibank, Catepillar--NO ONE!! One segment of the fascist form of government--dependency upon the government for everything--is that no one has any personal responsibility for ANY OF THEIR ACTIONS!! Another segment concerns adequate compensation for work performed. Fascism will brook no allegiance with the concept of 'market forces.' Allowing market forces determine adequate pay, allowances, perquisites and bonuses takes ANY POWER OVER THE ECONOMY out of the hands of my regime!! The SEC has better things to be concerned with besides overseeing corporate executives and boards of directors as they apply to the commoners' benefits. There's all those hardcore porn sites that must be surfed, which takes up most of the agents' workday!!]
Now, unsurprisingly, these reforms have not exactly been welcomed by the people who profit from the status quo – as well their allies in Washington. This is probably why the special interests have spent a lot of time and money lobbying to kill or weaken the bill. Just the other day, in fact, the Leader of the Senate Republicans and the Chair of the Republican Senate campaign committee met with two dozen top Wall Street executives to talk about how to block progress on this issue.
Lo and behold, when he returned to Washington, the Senate Republican Leader came out against the common-sense reforms we’ve proposed. In doing so, he made the cynical and deceptive assertion that reform would somehow enable future bailouts – when he knows that it would do just the opposite. Every day we don’t act, the same system that led to bailouts remains in place – with the exact same loopholes and the exact same liabilities. And if we don’t change what led to the crisis, we’ll doom ourselves to repeat it. That’s the truth. Opposing reform will leave taxpayers on the hook if a crisis like this ever happens again.
So my hope is that we can put this kind of politics aside. My hope is that Democrats and Republicans can find common ground and move forward together. But this is certain: one way or another, we will move forward. This issue is too important. The costs of inaction are too great. We will hold Wall Street accountable. We will protect and empower consumers in our financial system. That’s what reform is all about. That’s what we’re fighting for. And that’s exactly what we’re going to achieve. [What I'm not telling you: Notice here I'm reluctant to mention the thirty-plus times that my buddy, Andy Stern, Thug-In-Chief of the SEIU union. Why do ya s'pose he came to visit? It sure as Hell, wasn't to drink mint juleps in the South Portico!! With this legislation I'm put into a delimma: Will I have more power over the economy with this legislation, or will I have more power without it?? I'm thinkin' that the power is with not passing the legislation.
- With the legislation: Any actions will be subjected to the provisions of law. There will be the posssibility of review of the actions of me and my czars.
- Without the legislation: It would be much simpler. As I did in the past, I bribe legislators to pass another nearly $800,000,000,000 slush fund. The bribes would be much the same as the Nebraska Compromise" and the whoring out of that Landrieu person from Louisiana. I can then reward my largest donors; the union management; buy more votes like I have with "Cash For Clunkers" and the various government "give-backs" I've instituted, as well as the illegal immigrant amnesty I've planned. Not pushing for this legislation has a two-pronged effect: One prong is that I can continue to brow-beat "Wall Street" for those large donations they've made in the past. The other prong is that I can continue to denegrate them to my media fools. Without them, I lose one more entity to be the cause of my failures!!!
No comments:
Post a Comment