Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

The Billion-Dollar Bank Heist (July news relevant to today's Jobs Bill heist)
The Daily Beast ^ | July 11, 2011

Posted on 10/12/2011 11:21:04 AM PDT by yoe

There are the bills a president signs sitting in the Oval Office and the bills that merit a Rose Garden ceremony. And then there are bills so momentous—or at least so critical to a president’s reelection prospects—that those around the commander in chief orchestrate a more elaborate ceremony. Such was the case with (The biggest lie of all)

the financial-reform package that President Obama signed into law last July against a backdrop of velvet curtains in a resplendent venue a few blocks from the White House.

“Passing this bill was no easy task,” Obama told the 400 dignitaries who witnessed the most ambitious overhaul of the financial system since the Great Depression. “We had to overcome the furious lobbying of an array of powerful interest groups and a partisan minority determined to block change.”

The pomp and ceremony may have been premature. Ever since the law’s passage, those same “powerful interest groups” who opposed Dodd-Frank have been trying to prevent it from taking effect. As written, the law delayed implementation of most of its new rules for at least 12 months so regulators would have time to hammer out the finer points of the 2,319-page bill. But that delay has also provided an opening to banks and other financial institutions seeking to defang the law. “Just because we lost that round,” says Cam Fine, president of the Independent Community Bankers of America, which spent $1 million in the first three months of this year to lobby against implementation, “doesn’t mean we just give up. Congress changes its mind all the time.”

Take what’s been happening with the (How Warren Blew It)..............

(Excerpt) Read more at thedailybeast.com ...


TOPICS: Crime/Corruption; Extended News; Government
KEYWORDS: democrats; doddfrank; economy; liberalfascism; obama; ows
(Dodd - Frank Bill)

The OccupyWallStreet No Nothings aided and abetted by Chicago Mayor "Never let a good crisis go to waste" Rahm Emanuel, Nancy Pelosi and some other Obama Toadies to keep the public at large from really understanding it was not the fault of Wall Street for the loan meltdown AND to keep your eyes off the Fast & Furious debacle namely, Eric Holder and his mendacious answers to Issa's hearing. The Dodd-Frank bill was swiftly swept under the Obama bus leaving the opinion makers to blame Wall Street and others. Fannie Mae and Freddy Mac and those who used that company as their private sandbox are the evil doers........

1 posted on 10/12/2011 11:21:10 AM PDT by yoe
[ Post Reply | Private Reply | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson