Tuesday, July 21, 2009

Obama and The Banks

That's right. Not the "West Bank".

But the "Wall Street Banks".


Obama Hits Out At Wall Street Banks

These socialists don't think he's one of them, though:

On domestic policy, Obama’s overriding concern has been to defend the wealth of the most powerful sections of the corporate and financial elite. Through cash injections, subsidies and loan programs, trillions have been handed out to the banks and financial institutions, with no strings attached. The administration has opposed any real constraints on executive pay or bonuses.

Utilizing the government handouts, the largest banks reported massive profits in the second quarter of 2009, including $3.44 billion for Goldman Sachs and $2.7 billion for JPMorgan Chase. The banks plan on handing out record bonuses this year to their executives and traders.

The very institutions that precipitated the economic crisis through their speculation and looting operations are doing better than ever. This is not an accident. It is the intended outcome of the policy carried out by the Obama administration.

1 comment:

Yacov said...

The US is going down the tube and all the financial parasites are hasting it

2 Timothy 3:1 This know also, that in the last days perilous times shall come.