Comment. We are being once again continually bombarded with redundant distractions, (fueled by the mainstream media), that draw our attention away from scrutinizing what is really taking place with the impending new regulation of our financial system. Evidently President Pelosi and her mouthpiece Barak Obama, (using Treasury Secretary Geitner as “their” front man), are going to pile more regulations on top of those already in place, (this is typical of Liberal socialists who cannot discern existing realities from their own mental meanderings). The fact of the matter is that the Congress and the various Federal agencies put in place to protect our interests from unscrupulous financial practices have fallen down on the job. The examples are many, and using recent history as a prime example let us look at Congress, (which, I believe, is now probably more corrupt than at anytime in past history). The sub prime debacle brought to the attention of the House Banking and Finance Committee, (chaired by that lovable teddy bear Barney Frank ), who when notified by the Bush’ administration of the impending crises, chose to over ride any concerns about the impending debacle, (mainly because the top Democratic players were getting bribes…sorry, I mean contributions, from Fannie Mae and Freddie Mac), and refused to take any action to stop that runaway train. Then we have the Securities and Exchange Commission, who on minor scale in the current scheme of things, ignored seven warnings regarding Bernie Madoff’s shenanigans and did nothing, (the total amount scammed by that sociopathic criminal is believed to far exceed the $ 50,000,000,000.00 reported),causing a great number of people to lose thier life savings, (I wonder if the SEC’s board was also getting “contributions”.) Then we have the FDIC which allowed it’s insurance reserves to fall to 1.1% below the amt mandated by Congress of 1.15% required and to show you how screwy the FDIC amounts on hand are we use the example of Washington Mutual with a $ 309,000,000,000.00 insolvency – the FDIC only had $ 45,000,000,000.00 on hand, (Associated Press, September 17, 2008, by Rod Breher).
To better understand how the FDIC obtains the monies it holds,we can cull from Sheila Bair, Chairman of the FDIC, who stated in a letter to bank executive officers, ( Important Message From FDIC Chairman Bair, “ For Bank CEOS on Assessment, March 2, 2009 “), ”…banks not taxpayers…are expected to fund the system, (FDIC insurance). Well Ms. Bair, if that is true how come Obama is letting Pelosi and her pack of rats raid the treasury to support those large banks who in their greed made bad decisions; the government can’t run itself efficiently, how can a bunch of politicians who know nothing of economics and even less about banking, think they can have a hand in running these financial institutions? (The thought just occurred to me that maybe with receipt of enough contributions the Congress can give the bankers a “wink and a smile” and let them run the banks, once again, how they choose – you never know.)
It is my opinion that we, the American public, are a much bigger and better people than the fools in Washington can ever be, sadly I wish more Americans would question the irresponsible behavior that characterizes the half wits in D.C.
In the words of John Stuart Mills, (1806 – 1873), British philosopher, political economist, and Member of Parliment :
The person who has nothing for which he is willing to fight, nothing which is more important than his own personal safety, is a miserable creature and has no chance of being free unless made and kept so by the exertions of better men than himself …….another words make your voice known, don’t rely on others to protect your rights and freedoms, after all we are still a Democracy – though for how much longer is in question.
Sadly…The four slain Oakland Police officers were laid to rest yesterday. Unfortunately, Bay Area rabble rousers, as expected, held a protest and rally against the police and eulogized in a memorial service the piece of human garbage who murdered those officers.
