Less than 30 minutes after the Securities and Exchange Commission announced its lawsuit against Goldman Sachs, the Democratic National Committee sent mass e-mails proclaiming that the action shows the need for passage of financial reform legislation –- currently the top priority for President Obama.
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Obama and Dems hiding real cause of financial crisis – Washington
Public hates bailouts and the ‘financial reform’ bill is a blank check for bailouts
Obama and Reid using politics to push bailout bill at expense of taxpayers
Obama and the Dems want to be able to select who gets bailed out and which creditors get the bailout money. Remember how GM and Chrysler creditors got stiffed while unions made out like bandits? This bill will institutionalize that type of corruption.
With health bill, Obama has sown the seeds of a budget crisis
Moody’s emphasizes two warning signs: rising debt and loss of confidence that government will deal with it. Obama fulfills both. The parallels with the recent financial crisis are striking. Bankers and rating agencies engaged in wishful thinking to rationalize self-interest.
Obama Bankrupts US!! Budget Uses Bogus Assumptions to Stay Under $2 Trillion Deficit
“A populist government, similar to those that drove Latin American republics into bankruptcy during t he 1970s is in charge,” Morici said.
“The United States is facing deficits greater than one trillion dollars for the foreseeable future,” requiring increased debts that run the risk of an international run on the dollar and uncontrolled inflation, he warned.