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Obama’s “Financial Regulatory Reform Plan” is Nothing of the Sort
Infowars
June 18, 2009
Obama’s misnamed “Financial Regulatory Reform Plan” is a brazen attempt by the bankers to consolidate their power.
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| Obama’s plan will be run out of the Treasury under former New York Fed Grand Poobah Timothy Geithner. | |
Obama — or rather, the bankers who own Obama — has devised something called a “Financial Services Oversight Council” to be chaired by the bankster dominated Treasury Department. This uber-council would call the shots for every financial firm in the country and supposedly refer “emerging risks to the attention of regulators with the authority to respond,” even as Obama plans to call for the U.S. Office of Thrift Supervision to close under the direction of the Federal Reserve.
Instead of independent bank regulators, Obama proposes a “National Bank Supervisor” who would have “separate status within Treasury and be led by a single executive,” according to Clusterstock. The NBS czar would occupy a centralized post in enemy territory and “take over the prudential responsibilities of the Office of the Comptroller of the Currency, which currently charters and supervises nationally chartered banks and federal branches and agencies of foreign banks.”
Next up, Obama tells us he wants to create a Consumer Financial Protection Agency, a laughable proposal if it wasn’t so criminally dishonest. It would be charged with protecting consumers of credit, savings, payment and financial products and services, or so we are expected to believe. It will be another government behemoth beholden to the same financial elite that has so far ransacked the nation to the tune of trillions of dollars.
“The CFPA will be a massive new agency that will impact everyone in the United States in some form,” writes Andrew Busch, a markets strategist at BMO Capital Markets in Chicago. “Providing this much power to one agency is truly frightening as they will get to set the rules and pick the winners/losers for the financial sector.”
You know, the same “winners” now ruling the roost.
Then there is the Office of National Insurance, also to set up camp in the Treasury. It will allegedly improve and broaden the regulation of insurance companies and affiliates on a consolidated basis, including affiliates outside the traditional insurance business, and will offer consistent consumer protection for insurance products and practices.
The excuse for this one is the failure of AIG. On September 16, 2008, AIG suffered a liquidity crisis following the downgrade of its credit rating. It needed a $85 billion credit infusion from the money out of thin air folks over at the Federal Reserve. The Fed basically ended up owning AIG and its boatload of toxic debt.
If you check the Federal Reserve Act, you will see there is nothing in there about the ability to buy up insurance companies. But then, since the Fed is not actually a part of the U.S. government and is a private banking corporation owned by a consortium of private banks, it is not beholden to no stinking act passed in the dead of night during a Christmas recess way back in 1913.
- A d v e r t i s e m e n t
It wasn’t insurance losses that nearly toppled AIG — it was the actions of secretive unit that caused more than $18 billion in losses for the world’s largest insurance company. AIG Financial Products was run like a hedge fund out of London and Wilton, Connecticut, and specialized in derivatives masquerading as “financial products.”
Do you think the Treasury, run by little Timmy Geithner — who was president of the Federal Reserve Bank of New York, worked for the master criminals Robert Rubin and Lawrence Summers, spent time at the CFR and learned a trick or two under the direction of Herr Kissinger and Associates — will “regulate” derivatives pretending to be “financial products” for insurance customers?
Please.
Wall Street and its international offshore banker overlords are addicted to derivatives. “These derivatives now amount to a total worldwide notional value that can be estimated between 1 quadrillion and two quadrillion US dollars. This sum is so large that it dwarfs the total value of the entire planet earth and all those who live here,” notes Webster G. Tarpley.
If you think Obama and crew plan to do something about this massive black hole, I have a bridge to sell you on Krypton.
Obama’s “Financial Regulatory Reform Plan” is but another bankster scam. It is an obvious plan to grab up more industries and goodies under the guise of “regulation” and (ack) “consumer protection.” So contemptuous of you and your family are the bankers they don’t even attempt to make this threadbare nonsense plausible. It is thievery right out in the open.
Our only hope at this point is the Federal Reserve Transparency Act, HR 1207, now up to 232 co-sponsors. It needs a two-thirds vote with 290 members on board so the bankster tool Obama will not veto it.
On that day of its passage there will be a short cry of hosanna — and then we will open the Fed’s books and begin the process of delivering the criminals to justice and closing down the Federal Reserve Crime Syndicate once and for all.
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19 Responses to “Obama’s “Financial Regulatory Reform Plan” is Nothing of the Sort”
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June 18th, 2009 at 5:58 am
And then maybe well get to watch them on americas most wanted groveling in the dust?instead of the people that live here.
pitofdoom Reply:
June 18th, 2009 at 8:16 am
Shortly very few may qualify as “living” here!
It’s rather amazing how they can throw monopoly money around
as if it is power, yet “We that people” can’t even throw shit as if it’s power?
June 18th, 2009 at 6:26 am
The federal reserve needs to die. We don’t needs these crooked bankers controlling our money supply.
June 18th, 2009 at 7:01 am
LOCK & LOAD!!!! IF the fed is audited, they WILL react!!!!!
June 18th, 2009 at 7:02 am
Obama overhauls Wall street…huh…sorry: Wall Street overhauls Obama: http://is.gd/15meu
pitofdoom Reply:
June 18th, 2009 at 8:14 am
I already feel overhauled, I need more then just bigger bandage!
June 18th, 2009 at 8:06 am
Financial Regulatory Plan: indebt Americans for the next thousand years.
Patriot Act: the most traitorous plan ever devised
Social Security: a pyramid plan for the now deceased
Homeland Security: gun grabbing motherfuckers
Take anything coming out of Bushobama’s mouth reverse it and you’ll have the truth. Try it yourself.
pitofdoom Reply:
June 18th, 2009 at 8:13 am
But Corp/Govt loves all you little worthless eaters, I mean citizens,
I suspect that shortly those left standing of “We” shall feel their love….
Have no fear Obama’s illusion of solutions are here,
and hey if he fails we’ve still go Biden, Pelosi & Reid, what could possibly go wrong?
June 18th, 2009 at 8:08 am
Hurry, polish up that mirror, get more smoke in hear, ABC’s coming great….
June 18th, 2009 at 8:15 am
WHAT A BRILLIANT IDEA? LETS ALL BREAK OUT THE MONOPOLY GAME AND ISSUE THE PLAY MONEY TO ALL THE PLAYERS. THE ONLY RUB IS EVERY ASPECT OF YOUR LIFE IS GOING TO BE CONTROLED. YOU WILL NOT BE ABLE TO PUT AWAY THE PIECES AND PUT THE GAME BACK IN THE BOX FOR A GAME ON ANOTHER DAY. THIS IS REALITY FOLKS.
THE 13TH FLOOR HAD DESIGNED A MATRIX FOR THE SHEOPLE. NOW WATCH THE STATE RUN MEDIA TALK ABOUT ALL THE SUCESSFUL WORK ACCOMPLISHED BY THIS REAL LIFE NIGHTMARE.
June 18th, 2009 at 11:47 am
I wish you were right, Nimmo, but keep dreaming, as it will NEVER happen. The final nails are being put in the coffin of the U.S., and it is NOT going to be pulled back from the brink. One world government has been planned and worked towards on a major international scale for over a hundred years, and the Luciferian Illuminazis are not going to let ANYTHING prevent them from quickly completing their global plan(s). The U.S. and every other country in the world are being consolidated into worldwide domination, enslavement and extermination. Most people have been too dumbed down and made to falsely feel extremely powerless, and they’ve fallen for the lies; so they won’t stand up en masse as they would need to do if there was to be any earthly hope of our being extricated from this fast approaching hell on earth. It is Satan’s time now, for a very short time, and all hell is going to break loose. Our ONLY True and Ultimate Hope is being Truly, Fully and Completely restored to, transformed by, and infilled with the Overcoming Power of Jesus the Christ. Everything else is worthless false hope, living in a fantasy world, and living a lie leading to nothing but complete destruction forever if we aren’t restored to our ONLY True Lord and Savior. So, ENOUGH of giving glory to self, drinking other peoples’ kool aid, and holding out false hope(s). Get Truly, Fully and Completely right with God, or perish forever.
June 18th, 2009 at 11:55 am
2-3% of population
extort blackmail bribe
the chosen the superior
perception management
aipac’s israel-first dual-nationals
liars or truthers
anthrax cover-up of 911
the non-federal reserve w/no reserves
June 18th, 2009 at 1:37 pm
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June 18th, 2009 at 3:00 pm
A quote from Barack Obama on his 100th day of presidency. From the NYT transcript: http://www.nytimes.com/2009/04.....wanted=all
“. . . the presidency is extraordinarily powerful, but we are just part of a much broader tapestry of American life and there are a lot of different power centers. And so I can’t just press a button and suddenly have the bankers do exactly what I want — (laughter) — or — (chuckles) — or, you know, turn on a switch and suddenly, you know, Congress falls in line.”
June 18th, 2009 at 6:17 pm
If it’s coming from the government, it can’t be good
June 18th, 2009 at 10:12 pm
I wonder why no one is asking where this kind of power exists in the constitution. Well, I’m sure it’s because these people have no interest in such limits.
The 10th Amendment makes it quite clear that the federal government should only be involved in those things that are authorized to it in the Constitution. everything else should be left to the “states, respectively, or to the People.”
Period.
There’s nothing, whatsoever, in the constitution, that authorizes the federal government to engage in this kind of activity. Unless, of course you subscribe to the liberal notion that the “commerce clause” gives them power to do whatever they want.
Read more on this here:
http://www.tenthamendmentcenter.com/
June 19th, 2009 at 3:06 am
I wonder why no one is asking where this kind of power exists in the constitution. Well, I’m sure it’s because these people have no interest in such limits.
The 10th Amendment makes it quite clear that the federal government should only be involved in those things that are authorized to it in the Constitution. everything else should be left to the “states, respectively, or to the People.”
Period.
There’s nothing, whatsoever, in the constitution, that authorizes the federal government to engage in this kind of activity. Unless, of course you subscribe to the liberal notion that the “commerce clause” gives them power to do whatever they want.
Read more on this here:
http://www.tenthamendmentcenter.com/
P.S. – Sorry, forgot to tell you great post!
June 19th, 2009 at 3:47 am
[...] Posted in economy tagged economy, Financial Coverups, National Servitude, treason at 6:47 PM by wecogitate If you check the Federal Reserve Act, you will see there is nothing in there about the ability to buy up insurance companies. But then, since the Fed is not actually a part of the U.S. government and is a private banking corporation owned by a consortium of private banks, it is not beholden to no stinking act passed in the dead of night during a Christmas recess way back in 1913.http://www.prisonplanet.com/obama%e2%80%99s-%e2%80%9cfinancial-regulatory-reform-plan%e2%80%9d-is-no… [...]
June 19th, 2009 at 11:12 am
Though the proposed financial regulatory reform often speaks about more stringent capital requirements it still conserves the principle of “risk-based regulatory capital requirements” and by doing so the New Foundation unfortunately builds upon the most fundamental flaw of the current regulatory system.
Regulators have no business in trying to discriminate risks since by doing so they alter the risks and make it more difficult for the normal risk allocation mechanism in the markets to function.
Financial risk cannot only be managed by looking at the recipients of funds since those lending or investing the funds are also an integral part of the risk. High risks could be negligible risks when managed by the appropriate agents while perceived low risks could be the most dangerous ones if the fall in the wrong hands.
The recent crisis detonated because some plain vanilla (very simple and straight forward) and awfully badly awarded mortgages to the subprime sector managed to get dressed up as AAAs should attest to the previous. This crisis does not grow out of risky and speculative railroads in Argentina this crisis has its origins in financing the safest assets, houses, in supposedly the safest country, the US.
With this proposed financial regulatory reform I can only conclude that the regulators are dead set on digging us deeper in the hole we´re in.
Do you know that if a bank lends to a borrower that has been able to hustle up an AAA the bank is authorized to leverage itself 62.5 to 1?
http://www.subprimeregulations.blogspot.com/