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January 21, 2010

Obama Declares War on Banks

Posted by Dave Blount at January 21, 2010 10:14 AM

The left-wing fanatics running our government are doing their very best to recreate the halcyon days of big government liberalism — the Great Depression. Comrade Obama's latest assault on the economy:

President Obama called on Congress Thursday to expand the government's ability to limit the size and complexity of major financial institutions… He cast his proposals as a way to prevent banks from becoming too bloated and taking on risks that ultimately threaten the economy.

Could he mean risks like being forced by the government to make loans based on ethnicity to people almost certain not to pay them back? Of course not.

We now live in the kind of the country where the government puts a gun to bankers heads' and forces them to make bad loans to its supporters, then shoots them for making bad loans.

The esteemed financial expert Barack Obama, who learned all he knows about economics by hanging out with Marxist professors, has decided

to restrict proprietary trading by commercial banks. Such a limit would separate commercial banks from investment banks, a line that was blurred a decade ago by the repeal of the Depression era Glass-Steagall Act.

Disgustingly, Republicans may cooperate with this socialist punk's war on the "fat cats" who make our economy function.

[Treasury Secretary and slimy incompetent tax cheat Timothy] Geithner met with Republican Senate leader Mitch McConnell of Kentucky on Tuesday. Administration officials now believe that while Republicans may seek to block other aspects of the president's agenda, McConnell is considering making financial regulation an exception.

The stock market reacts:


God help this country if it ends up with what it deserves for electing the current government.

On a tip from Varla.