By John Berlau,Newsmax
Obama is pursuing FDR like Banking Restrictions
President Obama’s proposal today to bring back 1930s-like separation of commercial and investment banks,dubbed Glass-Steagall II or Glass-Steagall 2.0,would do little to prevent the problem of financial institutions’being too big to fail.
What it would do is hurt economic recovery,reduce types of financing available to businesses big and small,and give European and Asian financial services firms a huge competitive advantage over their U.S. counterparts.
The president’s proposed regulation would leave U.S. banks,in the phrasing of American Enterprise Institute scholar and former Treasury Department official Peter Wallison,“too big to fail or succeed.”
The proposal puts forth nothing to stop bailouts or modernize bankruptcy laws to make failure less systemic. Instead,it reintroduces a Depression-era structure for banking used nowhere else in the world. And it does nothing to stop the size or systemic dangers of the government-created financial giants Fannie Mae and Freddie Mac that were at the center of the mortgage crisis.
[...] This post was mentioned on Twitter by Tamara Yahley,Expose Obama. Expose Obama said:New blog post:Obama Plan to Split Banks Could Crash Economy http://bit.ly/6IzYAr [...]
This is a deliberate attempt to bring America down. What else could it be??? It's so obvious what "OOO"is doing to our country. He is a Marxist dictator and needs to be removed.
IMPEACH OBAMA NOW IN 2010
http://www.impeachobamacampaign.com/
I WANT TO SHOVE THAT CIG DOWN THROUGH HIM AND REAM HIM A NEW A——. HE SURE NEEDS A NEW A/H AND WALK A LONG WALK ON A SHORT PLANK-END HIMSELF.HE IS A GOOD FOR NOTHING LIAR-COMMUNIST,MARXIST,MUSLIM JIHADIST-TEARING THIS COUNTRY DOWN THE DRAIN PIPE. ALL HE KNOWS TO DO IS BLOW HOT AIR AND RIP ALL LEGAL AMERICAN CITIZENS OFF AND NOT BAT AN EYE.IMPEACH NOW!!!
BO bad oder stinks he is a nave a child playing president and gambling to much when health care fails he will be thrugh. mitt romney 4 prez mike bloomberg 4 sec of tressury or pres of fed