
“I did not run for office to be helping out a bunch of fat cat bankers on Wall Street,” spewed Barack Hussein Obama in an interview on CBS’s “60 Minutes” on Sunday.
“They’re still puzzled why it is that people are mad at the banks. Well, let’s see,” he said. “You guys are drawing down $10, $20 million bonuses after America went through the worst economic year that it’s gone through in—in decades, and you guys caused the problem. And we’ve got 10% unemployment.”
Maybe Mr. Obama is suffering from capitalism envy for some groups while he embraces the “fat cats” who supply millions of dollars made from capitalism to keep his Marxist/Fascist message on target.
It wasn’t George W. Bush who gave us 10% unemployment no matter how hard Obama wishes to beat that tired old drum. The unemployment and deficit meltdown has occurred on Mr. Obama’s watch as his pen signed the “bold” TARP spending initiate that has kept economic recovery at bay.
Now blaming bankers because Federal regulatory rules required them to loan money for homes to people ill-equipped to qualify is disingenuous and one more lie from a pathological liar.
“Inviting” bankers to the White House for a “teaching moment” Mr. Obama exclaimed:
“We expect an extraordinary commitment from them to help rebuild the economy.”
Why not throw yourself overboard Mr. Obama and take Pelosi and Reid with you!
Obama’s Treasury and Fed Chairman Bernanke has explicitly supported the policy as a way for banks to play the yield curve to rebuild their balance sheets with near-zero-rate interest policy which encourages banks to borrow cheaply and then invest in safe long-end Treasurys instead of riskier commercial loans. We call that prudent investing not irresponsible. 
Obama summed up his White House meeting with the bank CEOs by blaming them for the financial crisis and suggesting that they have an obligation to support new regulation being written by Barney Frank (D-MA) and Senator Chris Dodd (D-CT) the two members of Congress did more to encourage the financial crisis, by preventing reform of the government-sponsored housing behemoths Fannie Mae and Freddie Mac.
It’s nice to see this gang of liars and thieves all working at restructuring government to cause more harm on the road to poverty for all while finding scapegoats in banking, business and of course on Wall Street. Do these folks have mirrors?
The Wall Street Journal writes:
Someone in that power palace ought to consider that you don’t encourage capitalism by beating up capitalists, and you aren’t likely to encourage more lending by whipsawing lenders.
Isn’t it the goal of Obama and his ilk to end capitalism by blaming anything connected to it for all the economic and societal ills so average American’s “blame” the capitalist establishment who create wealth by way of jobs?
Let’s take a look, page 82-83, Dreams from My Father, one of the books he supposedly wrote.
“Late that afternoon, Marty picked me up in front of my new address and we headed south on the Skyway. After several miles, we took an exit leading into the southeast side, past rows of small houses made of gray clapboard or brick, until we arrived at a massive old factory that stretched out over several blocks. ‘The old Wisconsin Steel plant.’ We sat there in silence, studying the building. It expressed some of the robust, brutal spirit of Chicago’s industrial past, metal beams and concrete rammed together, without much attention to comfort or detail. Only now it was empty and rust-stained, like an abandoned wreck. On the other side of the chain-link fence, a spotted, mangy cat ran through the weeds.
‘All kinds of people used to work in the plant,’ Marty said as he wheeled the car around and started back down the road. ‘Blacks. Whites. Hispanics. All working the same jobs. All living the same kind of lives. But outside the plant, most of them didn’t want anything to do with each other. And these are the church people I’m talking about. Brothers and sisters in Christ.’ We came to a stoplight, and I noticed a group of young white men in their undershirts, drinking beer on a stoop. A Vrdolyak poster hung in one of the windows, and several of the men began to glare in my direction. I turned to Marty. ‘So what makes you think they can work together now?’ ‘They don’t have any choice. Not if they want their jobs back.’ … ‘Once we get the unions involved, we’ll have a base to negotiate from. In the meantime, we just need to stop the hemorrhage and give people some short-term victories. Something to show people how much power they have once they stop fighting each other and start going after the real enemy.’ ‘And who’s that?’ Marty shrugged. ‘The investment bankers. The politicians. The fat cat lobbyists.’”
We might add that lobbyists and politicians, even the “fat cats” are OK if they are on team Obama fighting to consolidate power in the White House and Leftist power base. Remember, headlines from Venezuela tell us how Hugo Chavez, admired by Obama, is taking over banks.
Obama blasted banks for showing ingratitude for resisting further government intrusion into their industry and refusing to increase loans to marginal borrowers. Ed Morrissey writes at Hot Air:
In fact, the entire instability of the financial system came from government pressure and incentives to do what Obama is demanding now. The government first used a beefed-up CRA to cajole bankers into making marginal loans, then had Fannie Mae and Freddie Mac buy up paper from these subprime loans and convert them into mortgage-backed securities. Fannie and Freddie sold these bonds to banks and other investors, who assumed (wrongly) that the government backing meant that they were safe investments. Meanwhile, the explosion of cheap and unqualified lending drove housing prices up artificially, and buyers bet that the Ponzi scheme would go on forever. When the housing bubble collapsed, so did the MBS market, neither of which would have happened if government hadn’t interfered in the first place.
The key Obama policy is to grow government while continually blaming other interests and have his “fat cats” in Congress write legislation behind closed doors to increase their power grab and destruction of the US Constitution. Indeed!

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