Obama now using Banks to destroy America!

[always]

Well, Yesterday we saw another BIG DROP in the market due solely to Obamas' threat to destroy our Banking system. Obama has surrounded himself with anti - America advisors, all he hears and understands is how to ruin our "free market' system. He has ruined our economy , Destroyed our Housing Market , Crippled our Auto Industry, Tried to Nationalize our Health Care and control every citizen by using their need for Health care as a WEAPON for Control.
After his COMPLETE rejection by the voters of Mass. His ANTI-AMERICAN advisors, which he selected for this very purpose, wasted no time in coming forth with a BANK POLICY that will do GREAT HARM to the INDUSTRY and assure that our economy does not have a firm banking foundation to support any attempt by our economy to survive.
Looking back over this past year at Obamas' Policies, Agenda, and Complete Failures , it could not be worse if his plans were designed by AMERICAS" WORST ENEMIES!! Maybe they have been!
NOVEMBER , 2010 is a LONG , LONG way off, WILL AMERICA STILL HAVE ANY LIFE LEFT BY THEN?
OBAMA & HIS FRIENDS seriously believe that EVERY CRISES in America allows them to EXPAND their ANTI- AMERICAN AGENDA, So far they have been correct, need proof?, just review what has happened in and TO America since Obama started calling the shots. Our CONSTITUTION has never been in as much DANGER since the day it was written.
CHECK OUT WHO OBAMAS' ADVISORS ARE: See where their political hearts lay, his Czars and advisors contain a mixed bag of Marxist , Socialist , Communists . Mao lovers, a terrorist, NEVER HAS ANY PREVIOUS Administration contained so many minds that actually HATE AMERICA and EVERYTHING AMERICA STANDS FOR!.
AMERICAS' domestic problems are not accidental or unknown. We can see them if WE OPEN our EYES and BELIEVE what they are DOING!!

Last TUESDAY Massachusetts "FIRED" another shot "HEARD AROUND THE WORLD" , DID YOU HEAR IT?, DID ALL LOYAL AMERICANS HEAR IT?
OBAMA HEARD IT!! But he tends NOT TO BELIEVE IT!! HE KEEPS FIRING BLANKS!!! ON PURPOSE! We will ONLY SEE HIS SMOKE but no PROVEN RESULTS that are NEEDED to SAVE AMERICA.
NEXT Wednesday ,Obama gives "his State of the Union" message, ONLY THREE WORDS ARE NEEDED BY OBAMA TO TRULY SAVE AMERICA" I ABANDON SHIP"!! The very NEXT DAY AMERICA would BEGIN a NEW BRIGHT DAY and a RETURN OF A VITAL ECONOMY!! WILL HE SAY THOSE "MAGIC WORDS", sadly, I must say "no', he will not!

 

[dogtowner]

when one socialist/fascist game falls apart he moves to the next

 

[Sihouette]

Wow, the payroll bloggers are really amping up the volume just after their two big victory btch-slaps to The People.

Good luck with that.

 

[samsara15]

always:

We certainly need to put some shackles on banks. Their irresponsible lending policies led us into the current economic crisis. Even your boy Bush would have done so, had his term of office not expired.

I guess doing so would make too much sense to appeal to you.

Rant away; God loves lunatics, or he would not have made so many of them.

 

[dogtowner]

always:

We certainly need to put some shackles on banks. Their irresponsible lending policies led us into the current economic crisis. Even your boy Bush would have done so, had his term of office not expired.

I guess doing so would make too much sense to appeal to you.

Rant away; God loves lunatics, or he would not have made so many of them.

And why did banks give loans to people who did not qualify ?
And who validated these by buying this paper ?
And who pushed for greater oversight ove rthe answer to #2 ?

If you think banks are the issue you are uninformed.

 

[Wayne64]

The U. S. economy will be in freefall because of Obama & the Democrats going after big banks, big oil & big medicine. 2009 will look like a picnic, compared to the job losses of this year & it will probably get even worse with no end in sight. I don't believe the American people voted for " change " to mean the capitalist system being destroyed. President Obama can blame Bush all he wants to, because he's politically lazy, but it's on his watch now & his fan club on MSNBC can't save him.

 

[GenSeneca]

We certainly need to put some shackles on banks. Their irresponsible lending policies led us into the current economic crisis. Even your boy Bush would have done so, had his term of office not expired.

There is only one thing you said that I agree with: Bush would have done the same thing, his standard operating procedure was to "abandon the free market in order to save it" and Obama is happy to continue the failed policy of blaming capitalism for governments failures and irresponsible actions.

Now as for banks... Do you know what fractional reserve banking is? The government uses it, government allows and encourages banks to use it... Prior to the crash, the private banks were heavily leveraged, the worst offender was leveraged 90 to 1. That means for every dollar they had on deposit, they extended a line of credit for 90 dollars - to put that another way, for every dollar in your bank account, you loan a friend 90 dollars. How long would it take for you to go bankrupt from such a practice?

It doesn't take a mathematician to see the danger in such a practice and banks wouldn't leverage themselves so highly if government didn't promise to serve as a backstop, promising to absorb bank losses on the taxpayers dime. If banks weren't promised to be bailed out in the event of a crisis, if they had to sink or swim by their own fiscal responsibility, they would not engage in such risky lending practices.

Now if you think 90 to 1 is risky... The government sponsored entities of Fannie and Freddie were leveraged 260 and 180 to 1 respectively. Those banks ARE guaranteed to be bailed out by the taxpayer, so they have no fear of taking enormous risks. They get to keep the profits and any losses are absorbed by the taxpayers - I refer to this practice as privatizing profits and socializing losses. These two entities contributed millions to election campaigns every year - to politicians in both parties - and in return, their palm greasing bought them political cover from politicians and allowed them to continue in their fraudulent practices.

Do you think 260 to 1 is risky? The Federal Reserve was leveraged around 1000 to 1... Are you starting to get the picture? Yet people like you blame the private banks, free markets and Capitalism for taking unnecessary risks resulting in a catastrophic failure while absolving government of all its completely irresponsible practices - above and beyond its failure to protect the public from fraud - a fraud that was perpetrated, encouraged and choreographed by the same government you now want to protect taxpayers from the irresponsible actions of private banks.

I can only liken this irrational behavior to having a mob boss send his goons to beat you up and you go crawling to the mob boss for protection because you don't understand that its his goons acting on his orders.

 

[Gipper]

BO' statements today have a reminiscent ring to them.

I believe a number of follow travelers said much the same. Such as Castro, Hitler, Lenin, FDR, Mussolini, Chavez....

 

[always]

BO' statements today have a reminiscent ring to them.

I believe a number of follow travelers said much the same. Such as Castro, Hitler, Lenin, FDR, Mussolini, Chavez....

BRAVO!!!! SAYS it ALL!!!