Economists Agree, Administration Policies Will Kill Banking Idustry, Availability of Credit
So how does Barack Hussein Obama respond to the Democrats loss of their super-majority in the U.S. Senate?
Simple: By declaring war on America's banking system, implementing depression era, draconian rules on banks which would limit consumer and small business access to credit and in fact their own money!
Obama has now declared WAR not only on U.S. banks, he's declared it on each and every one of us who has a checking or savings account, owns a small business, or require credit to keep cash flow going.
The policies Obama wants implemented will raise fees on each and every bank account holder across the country, as Obama seeks to "reign in" the largest banks. By forcing banks to pay new fees (read that: TAXES) to the Federal Government, the reality is those costs will be pushed down to each and every bank account holder in the form of fees.
Obama wants a war on you and I? He's got a war. The conclusion of which he'll see in November of 2010 when the Democrat Congress gets neutered.
Related Links
Financial Times: Obama Hammers Wall Street Banks
Reuters: Geithner, Obama Split Over New Banking Regulations
ABC News: Bernanke May Not Have Enough Votes for Reconfirmation
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1 comment:
I wrote about this a little on my blog too. What happens if banks just buy government bonds? What happens if farmers can't get the loans they need to buy seed? What happens when no-one can get a business loan?
No more jobs, no more economic growth really. Is it any wonder that 77% of investors think Obama is anti-business?
I think you misspelled "industry".
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