Obama's "Reform" Would Shift Wall Street Wealth To Chicago

HUDSON VALLEY PATRIOTS blog ^ | April 22, 2010 | Michael R. Long, NYS Coservative Party

[Brad from Tennessee]

What do New Yorkers call the so-called Obama Financial Services Reform? "The Great Chicago Bank Heist of the 21st Century!" Under the guise of protecting Main Street and the middle-class, President Obama and his Chicago political machine (Emanuel, Axelrod, Durbin, Jarrett) are secretly preparing to shift thousands of jobs from New York City to Chicago - along with billions of dollars of tax revenue. The Chicago political gang's first step in trying to move the financial center of our country and the financial capital of the world from the Big Apple to the Windy City will begin with this so-called "reform." And worse yet, our New York Democratic Congressional delegation led by Senators Chuck Schumer and Kirsten Gillibrand, are standing by letting it happen even while welcoming President Obama to New York City today.

In a nutshell, if the current "reform" legislation passes as is, the Chicago Mercantile Exchange, run by President Obama's buddies, would immediately establish an almost complete monopoly on the exchanges needed to comply with the legislation dealing with the trillions of dollars of derivatives transactions each year. . .(more)

[Brad from Tennessee]

The Chicago power structure has a short leash on Obama. After linking scroll down.

[MrB]

Just like he’s done with everything else since he’s gotten into power -

“shift” the wealth to his cronies.

[bunkerhill7]

Obummer's "Reform" Would Shaft Wall Street and Chicago Cronies,

Obummer Stolen Wealth To be Secretly Stashed in Kenya

[UCANSEE2]

Are there enough Prostitutes in Chicago, or will the ones in NY have to relocate, and will that be a tax deductible expense?

Maybe Obama can appoint a hooker czar.

[swain_forkbeard]

“’shift’ the wealth to his cronies.”

And if he has to pay off some poeple whom he doesn’t like in the bargain, so what? There’s plenty more. Just raise taxes or invent a new one, like a carbon tax or a VAT.

At this point, it’s a kleptocracy.

[Thane_Banquo]

The idea of shifting OTC credit derivatives to a central exchange is, in my opinion, misguided. Had OTC credit derivatives been at a central exchange during the meltdown, that exchange would probably have gone under just like AIG did. It is better to have risk spread out among many, many separate firms.

The problem with our current system is that Washington has been on a policy of pushing large banks to merge with each other, increasingly concentrating the entire global financial system into effectively 3 or 4 banks. This is a very, very bad idea.

So why is Washington doing this? Very simple: If you can get the financial system to the point where the vast majority of the industry is concentrated in a single firm, then that single firm will be the country's de facto central planner, and Washington will have instituted centrally-planned socialism through financial fiat.

[SonOfDarkSkies]

Chicago is a silly little city compared to New York. The “5-Families” will dispose of Barky and the Chicago “Outfit” and be back in New York in time for coffee and cannoli.

[throwback]

Probably was the center of wealth back in Capone’s day too, so it fits.

[Brad from Tennessee]

[If you can get the financial system to the point where the vast majority of the industry is concentrated in a single firm. . .]

The retail side of that would be Wal-Mart.

[Mark was here]

Swapping one set of gangsters for another.

[CIB-173RDABN]

There is power and money behind Obama. At what point will others with power and money begin to see that they are going to be taken along with the rest of the “little people”.

It will be like the gang wars of the 30s. If so many innocent victims would not be hurt in the cross fire I would cheer both sides on and let them destroy each other.

Obama as the Godfather, only he isn’t, he is just the front man for someone else.

All this talk about violence from the right may be setting up something so that the right gets blamed for it. We are living is some very dangerous times.

There does not seem to be any check or balance with our government. November can not get there soon enough for me.

[blueyon]

maybe another use for Valeria’s property since they did not get the Olympics. Now I understand why Rahm wants to be mayor...............

[Fletcher J]

Well, New York voted for Obama. Hey New Yorkers - how’s the hopey changey stuff working out for ya? LOL

Fletcher J

[RobRoy]

To many of us, none of this is a surprise. It was just so hard to believe we were right back in 2008. It seemed so unthinkable. But then, if someone had told the average German, at the beginning of Hitler’s rise to power, that it would result in all the things it did, they would have called you crazy, even though the evidence was all there.

[lentulusgracchus]

The Chicago power structure has a short leash on Obama. After linking scroll down.

There are dozens of subheads. Which one?

[Dark Wing]

Financial reform is a NY City to Chicago financial industry tax base heist?

[Excellence]

Scroll down to what?

[veracious]

I think Chicago is the center of RIP power. This region is fully empowered to direct national events, with huge chunks of money. Money flowing back to USA, from foreign entities, a portion of many trillion dollars of USA wealth transferred to OPEC and China over some scores of years.

[Thud]

Among other things. IMO the real reason was hinted at in SonOfDarkSkies’ No. 7. Sending the stuff to Chicago, to get campaign contributions from Chicago, creates an opportunity to send it back to NYC upon the payment of further tribute in the form of NYC campaign contributions. Then it can be sent to LA, go back to NYC, then to Atlanta and back to NYC, etc.

[Army Air Corps]

Ping.