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Who are the architects of this debacle?
Here are some President Obama's closest allies and advisers.
Lawrence Summers played a key role in lobbying Congress for the repeal of the Glass Steagall Act. His timely appointment by President Clinton in 1999 as Treasury Secretary spearheaded the adoption of the Financial Services Modernization Act in November 1999. Upon completing his mandate at the helm of the US Treasury, he became president of Harvard University (2001- 2006).
Paul Volker was chairman of the Federal Reserve Board in the l980s during the Reagan era. He played a central role in implementing the first stage of financial deregulation, which was conducive to mass bankruptcies, mergers and acquisitions, leading up to the 1987 financial crisis.
Timothy Geithner is CEO of the Federal Reserve Bank of New York, which is the most powerful private financial institution in America. He was also a former Clinton administration Treasury official. He has worked for Kissinger Associates and has also held a senior position at the IMF. The FRBNY plays a behind the scenes role in shaping financial policy. Geithner acts on behalf of powerful financiers, who are behind the FRBNY. He is also a member of the Council on Foreign Relations (CFR)
Jon Corzine is currently governor of New Jersey, former CEO of Goldman Sachs.
Harvard University Economics Professor Lawrence Summers served as Chief Economist for the World Bank (1991–1993). He contributed to shaping the macro-economic reforms imposed on numerous indebted developing countries. The social and economic impact of these reforms under the IMF-World Bank sponsored structural adjustment program (SAP) were devastating, resulting in mass poverty.
Larry Summer's stint at the World Bank coincided with the collapse of the Soviet Union and the imposition of the IMF-World Bank's deadly " economic medicine" on Eastern Europe, the former Soviet republics and the Balkans.
In 1993, Summers moved to the US Treasury. He initially held the position of Undersecretary of the Treasury for international affairs and later Deputy Secretary. In liaison with his former colleagues at the IMF and the World Bank, he played a key role in crafting the economic "shock treatment" reform packages imposed at the height of the 1997 Asian crisis on South Korea, Thailand and Indonesia.
The bailout agreements negotiated with these three countries were coordinated through Summers office at the Treasury in liaison with the Federal Reserve Bank of New York and the Washington based Bretton Woods institutions. Summers worked closely with IMF Deputy Managing Director Stanley Fischer, who was later appointed Governor of the Central Bank of Israel.
Larry Summers became Treasury Secretary in July 1999. He is a protégé of David Rockefeller. He was among the main architects of the infamous Financial Services Modernization Act, which provided legitimacy to inside trading and outright financial manipulation.
Originally posted by Quadrivium
Why was it ok then and not now? Simple...
Compare how much the National Debt grew under eight years of the Bush administration and how much it has grown under two years of the current administration.
Another thing is that Obama is a compulsive lier. Look at his campaign promises and what he has actually been doing. The only one to date that I think he is trying to keep is his promise to fundamentally change America.
Bush was not a saint by any means but Obama in my opinion is much worse.
I guess the biggest reason people are so upset now is that he and his cronies laugh in our face, put us down and constantly lie. Main stream media is a joke and for some reason want a Nanny State just as bad as Obama.
My party lines have been dropped. If a candidate shows up that can actually promise the betterment of this country and he/she is not a career politician then they will get my vote.
Party lines have become trip wires. If you vote repub. or dem. you are still getting a career politician most of the time, that will do what is right for the inside of his pocket.
We as a nation can not afford to let our party lines come between us. Step over your trip wires and look beyond them.
For A LOT of people politics is like a ball game. Your team against my team. And that's how they treat it. Picture this... In the last game of the season a flag is thrown on the last play with seconds left on the clock. The outcome of the call could be the deciding factor in who wins the game. Each teams fans believe the flag was thrown against the opposing team. The call is made and of course one side or the other gets upset. Even when the instant replay is played for them several times they still refuse to see the truth. They will continue to argue, fuss and sometimes even fight. Deep down inside they know they are wrong but will never admit it.
This is no game and we my friends should not be the "fans". This is the life of our childrens children and we are the ones deciding what kind of country they will be brought into. We do not have the luxury of party lines any longer. It is time to stand up and be an American. It is time to turn back to our Constitution.
Originally posted by samhouston1886
Originally posted by Quadrivium
Very well said, I agree with you.
What I am saying is that the "Tea Party" is controled by the very people that wish to destroy this country.
Why would anyone in the right mind side with them?