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Wall Street Wears Republicans Like a Bullet Proof Vest

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posted on Apr, 19 2010 @ 04:29 PM
I challenge fiscally conservatives, tea partiers, and republicans to recognize a very distinct pattern. Republican party leaders continually side with Wall Street and execs and seek to protect them at all times.

I start by submitting a Foxbusiness report on the 12th:
that states:
About 25 Wall Street executives, many of them hedge fund managers, sat down for a private meeting Thursday afternoon with two of the most powerful Republican lawmakers in Congress: Senate minority leader Mitch McConnell of Kentucky, and John Cornyn, the senior senator from Texas who runs the National Republican Senatorial Committee, one of the primary fundraising arms of the Republican Party. The stated topic of the meeting: The Financial reform bill being sponsored by Senator Chris Dodd, the Democrat and chairman of the senate banking committee. Both McConnell and Cornyn listened to numerous complaints the executives have with the bill. These included complaints about provisions that allow the government to continue to prop up financial institutions that are “too big to fail.”

Notice how Fox wants to say the bankers are complaining about being "too big to fail". Yea, right. Mitch McConnel said this bill "will lead to endless tax payer bailouts." Here again we see republican leadership twisting what is in a bill and selling it as something most -Americans would be against. This is a complete lie, that can said to be the Banking Financial Reform's version of a "death Panel". THERE IS NOTHING LIKE THAT IN THIS BILL!! The bill would require BANKS to fund a pool on their own to provide insurance for their OWN bailouts so taxpayers wouldn't have to. And speaking of "death panels", the FDIC would have the right to carve up and sell off banks that do fail.

Yet did that didn't stop Mitch McConnell from getting on TV directly after this meeting and parroting this lie to protect his banker friends. He got the ideas for his lie from Frank Luntz, Republican pollster, and repeated it almost verbatim.

Back in march John Boehner told the bankers, 'Don't let those little punk staffers take advantage'.

And my favorite, good ol' boy republican Richard Shelby at the Bankers Association meeting was asked how can the bankers help Shelby "carve out" the Consumer Financial Protection Agency. His response was, "What you can do first is elected more Republicans to the US Senate." He went on to say,"If you had 59 Republicans right now, you probably wouldn't have any worry." check at 16:23
That statement sums it all up, and makes my argument for me.

Now Bloomberg is reporting:
April 19 (Bloomberg) -- The U.S. Securities and Exchange Commission split 3-2 along party lines to approve an enforcement case against Goldman Sachs Group Inc., according to two people with knowledge of the vote.

3 Democrats want to charge Goldman Sachs with charges of fraud, the 2 Republicans do NOT.

My goal here is NOT to say just republicans are bought off. I understand Democrats have banker 'friends' too. My goals are two fold:

1)Shed light on the pattern that comes into view when looking at what party is really looking out for Main Street.

2) When it comes to banking reform, Tea Partiers, fiscal conservatives, and Democrats need to work together and not let the lies and the people who tell them, win this fight. All three groups have a common interest; reigning in Wall Street abuses that cost middle Americans and tax payers.

posted on Apr, 19 2010 @ 05:43 PM
Not true. Ron Paul started the "END THE FED" movement.

This "one ups" the call for Wall Street accountability, because Wall Street operates the FEDERAL RESERVE charging the public for private bank scams.

Just another maneuver by mainstream media in the false Left Vs Right paradigm.

posted on Apr, 19 2010 @ 06:01 PM
Aren't these just actually safeguards to help them unwind in an orderly fashion if this was to happen again?

So provisions set forth something like how soon they have to liquidate assets and in what manner etc..

If you think about it, IMO it is a lot better to have something unwind slowly rather than a bomb like Lehman Bros. Besides contrary to popular belief we are in the black and by far with most of our expenditures, are we not? (minus AIG)

AIG is a black hole but they have been liquidating assets piece by piece and it has been working quite well along with the 20:1 split. At least it is another way to raise capital in the meantime.

We have banked off of C, GS, BAC etc....

But why would you want something like Lehman again? No one wanted to be in that situation in the first place, but it is better than total chaos. Well, unless you are looking for that because you have been "discarded by the system" previously.

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