Does Obama speak with a forked tongue on financial reforms?

[thom]

In public, he bashes them:
http://online.wsj.com/article/SB126073152465089651.html
Obama Slams 'Fat Cat' Bankers


But behind close doors he gets all smoochy with them:

http://www.rollingstone.com/politics/story/31234647/obamas_big_sellout/2
Obama's Big Sellout
"What's taken place in the year since Obama won the presidency has turned out to be one of the most dramatic political about-faces in our history. Elected in the midst of a crushing economic crisis brought on by a decade of orgiastic deregulation and unchecked greed, Obama had a clear mandate to rein in Wall Street and remake the entire structure of the American economy. What he did instead was ship even his most marginally progressive campaign advisers off to various bureaucratic Siberias, while packing the key economic positions in his White House with the very people who caused the crisis in the first place."


And Congress is in on it, too:

http://news.yahoo.com/s/ap/20091211/ap_on_bi_ge/us_financial_overhaul
House scales back proposed Wall Street rules
"nearly half the Democrats teamed up with Republicans late Thursday to loosen restrictions on derivatives and reject tougher regulations...

"The legislation still imposes restrictions on derivatives, aiming to prevent manipulation in and bring transparency to a $600 trillion global market. An amendment by New York Democrat Scott Murphy, adopted 304-124 Thursday night, exempted businesses that trade in derivatives, not as financial speculators, but to hedge against market fluctuations such as currency rates or gasoline prices. The amendment also provided an exception for businesses that are not considered too big to be a risk to the financial system.

"A Democratic effort to make more companies subject to derivatives regulation failed 279-150.

"On Wednesday, pro-business Democrats succeeded in making it harder for states to enforce their own consumer protection rules on national banks. Under a compromise struck with Democratic leaders and Treasury officials, states would not be able to pre-empt federal consumer laws if the state law "materially" interferes with the business of banks.

"The bill is H.R.4173"


OK, whose side are they REALLY on?

[rushford79]

Dems and Reps have supported Business since Day 1 in America.

It has made our country the most powerful in the world but has led to constant strife between people and big business.

Government's role is sort of to keep the people from getting too crazy, or being too exploited to the point where they become communists, and at the same time keep business running while keeping them from becoming too exploitative and all powerful.

Government and business are pals though, you better believe it. Gov protects business first, people second.

[leland]

yes

[symington]

Absolutely he does, the man is a habitual liar!!
May God Bless you and Merry Christmas!

[wethrby]

All about the money who got it who gets it an favors done for it.

[golding]

In public, he bashes them:
http://online.wsj.com/article/SB126073152465089651.html
Obama Slams 'Fat Cat' Bankers


But behind close doors he gets all smoochy with them:

http://www.rollingstone.com/politics/story/31234647/obamas_big_sellout/2
Obama's Big Sellout
"What's taken place in the year since Obama won the presidency has turned out to be one of the most dramatic political about-faces in our history. Elected in the midst of a crushing economic crisis brought on by a decade of orgiastic deregulation and unchecked greed, Obama had a clear mandate to rein in Wall Street and remake the entire structure of the American economy. What he did instead was ship even his most marginally progressive campaign advisers off to various bureaucratic Siberias, while packing the key economic positions in his White House with the very people who caused the crisis in the first place."


And Congress is in on it, too:

http://news.yahoo.com/s/ap/20091211/ap_on_bi_ge/us_financial_overhaul
House scales back proposed Wall Street rules
"nearly half the Democrats teamed up with Republicans late Thursday to loosen restrictions on derivatives and reject tougher regulations...

"The legislation still imposes restrictions on derivatives, aiming to prevent manipulation in and bring transparency to a $600 trillion global market. An amendment by New York Democrat Scott Murphy, adopted 304-124 Thursday night, exempted businesses that trade in derivatives, not as financial speculators, but to hedge against market fluctuations such as currency rates or gasoline prices. The amendment also provided an exception for businesses that are not considered too big to be a risk to the financial system.

"A Democratic effort to make more companies subject to derivatives regulation failed 279-150.

"On Wednesday, pro-business Democrats succeeded in making it harder for states to enforce their own consumer protection rules on national banks. Under a compromise struck with Democratic leaders and Treasury officials, states would not be able to pre-empt federal consumer laws if the state law "materially" interferes with the business of banks.

"The bill is H.R.4173"


OK, whose side are they REALLY on?