What Financial Reforms: A Progressive Prospective

I am a Progressive and I will not make excuses for Barrack Obama! What burns me up is to hear Obama devotees give their endless litany we have financial reforms in America due to Obama! What reforms? The speculators are free to destroy our economy once again! Oh but now we have a small insurance fund in case we have to bail them out! The fund is a pittance in terms of what it cost the last time to bail them out. Some will say “didn’t the banks pay back their loans?”

The repayment was done on the backs of middle class Americans with credit cards and loan rates raising though the ceiling. College students are being shackled with loan payments but they cannot find jobs!

Obama’s solution is to call for tax cuts that would make Social Security and Medicare more vulnerable to Republican cuts down the road!

Meanwhile the rich keep their Bush era tax cuts. Obama now brags that the unemployment rate has fallen to 8.5%! Face it the first stimulus was too weak. Obama stated when he began his term that unemployment would not pass 8%! Obama was too busy trying to compromise!

If Obama would have looked around him at the suffering of the American people instead of keeping his head up Joe Liebermann’s ass perhaps he would have tried to outlaw the practice of usury. The only thing his reforms did was to require banks to make their disclosure forms more readable!

Nanny State For The Banks While Obama Plays “Make Believe Progressive” Inside The Corporate Sandbox

 

Barrack Obama has stood up for the middle class only if it would not hurt his patrons in Goldman Sachs! While the Republicans argue for Old Testament values and morality they condone the practice of “usury’ which the Bible prohibited!  I want to make it clear that even if someone does make bad financial mistakes they should NEVER be the victims of usury!

This practice makes loan repayment impossible. Maybe the Government should have given Goldman Sachs a “payday loan” with usury rates!

 


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Meanwhile President Obama and Wall Street Chuckie Schumer are just so proud of their new Financial Reform Law!

This law does not address:

  1. The crime of usury by which Americans are turned into interest slaves to the banks!
  2. The continuation of “too big to fail” and the reckless leveraging practices that resulted in record profits for Obama’s patrons at Goldman Sachs.
  3. That America was protected by the Glass –Steagall Act but this law was weakened in 1999. The Glass – Steagall Act kept investment institutions separate from commercial banks.
  4. The banking cartel: This cluster of power  has not been broken up! There have been no real prosecutions but instead a cloud of secrecy under the President who promised transparency! Amazing isn’t that Barrack Obama was the largest beneficiary of the Goldman Sachs PAC in his 2008 election!
  5. The big boys can escape their responsibly but middle class Americans have less access to bankruptcy laws because these were weakened in 2005.

Now we learn that the Federal Reserve made trillions in loans without transparency. Many loans were made to institutions outside the United States. See the video below!

 

I am tired of making excuses for Barrack Obama. Yes I understand that he now has to fight against a Republican House and a Senate where Republicans can filibuster!

Perhaps if Barrack Obama had stood up to the Tea Party we would not have lost the ideological battle in 2010 that resulted in our loss of the House!

That laws where not passed is not the issue! Obama is a wimp of a failure because:

  1. He did not try!
  2. Obama did not take this case to the people using the Presidential bully pulpit. Obama did not fight the ideological battle. This from the man who was supposed to be the greatest orator of our time!

But then again it is hard to wage the fight when Barrack Obama is playing “progressive” inside the moneyed confines of the corporate sandbox of his patrician sponsors!

Accomplishing “Change We Can Believe In”

There are two battlefields. The Congress via legislation and the people via the war of ideas! If Obama had tried and failed completely to get any legislation passed I would not call him a wimp!

The problem is that not only did he not try to push for real reforms but he did not take his case to the people in the “battle of ideas”!

With the Citizens United ruling that unleashes corporate super-pacs, we need a president who will use his oratory and the bully pulpit. Instead all we have is a wimp with the foul smell of keeping his head up Joe Liebermann’s butt!

The battle of ideas was being won by the Tea Party until the patriots of the Occupy Wall Street Movement said “ENOUGH”! If we did not have the Occupy Wall Street Movement then Barrack Obama would be even more of a wimp then he is and make even more concessions.

Just think of how much more Barrack Obama can give away if he gets elected to a second term! He will use ‘our pain” to have his goal of a grand compromise!

QUESTION:

Where is Obama in the fight for the 28th Amendment that would separate corporation and state?

ANSWER:

He is too busy raising funds from his friends on Wall Street for his re-election!

I have had it! Dump the wimp Obama.

We need Buddy Roemer for President!

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