Obama has a announced a great pile of trillion dollar giveaways to Wall Street, and called it tough regulation, though each of these regulations protects them from responsibility, while tapping the taxpayer’s veins. To show how tough they are on Wall Street, congressmen summoned Goldman and Sach’s executives to Washington, and harshly ranted at them for selling their customers securities based on mortgages that they knew or should have known were $##%.
Indymac closed its doors and was seized by the FDIC, which sold it to Goldman Sach, yes, those dreadfully bad boys being cursed out in congress as your read this, in an extraordinarily generous and completely one sided sweetheart deal, paralleling the very similar deal wherein Goldman and Sach got to devour Lehman brothers.
Basel II is a giveaway, a great pile of regulation written by people like Goldman and Sach, for people like Goldman and Sach, rich man’s socialism, socialism George Soros style. Everyone involved in developing, enforcing, and implementing these regulations needs to go to jail, but instead Obama is giving us even more rich man’s socialism.