Cash Cow vs. Sacred Cow

Posted on September 14, 2009

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Now why would a select band of Congressmen OBJECT to regulating how Wall Street does it’s business, considering that the trillion-dollar-federal-candy-store they were just given the keys to was conditioned upon the premise that Wall Street must clean up it’s act in order to justify the bailout?

What possible reason could a bunch of Senators have for opposing a mandate that financial institutions MUST be accountable for the money they trade, the transactions they execute, and the accounting they report? Why would members of Congress OBJECT to full transparency?  Why would so-called peoples’ representatives side against the people they represent and with the financial whore-houses who screwed the American taxpayer, and then got bonus-paid for doing so?

Logical conclusion?  LOBBYISTS.

The United States of America:  The best government that money can buy.

Obama aims to reinvigorate Wall Street reform
By Caren Bohan – Reuters – Mon Sep 14, 5:12 am ET
WASHINGTON (Reuters) – President Barack Obama will try on Monday to revive a stalled push for stricter oversight of Wall Street, using the anniversary of Lehman Brothers’ collapse to argue for sweeping regulatory changes.

Obama’s wide-ranging economic address in New York will also discuss plans to unwind the government’s involvement in the financial sector and call upon Wall Street firms to take responsibility and avoid reckless behavior.

But as Obama prepares to deliver the speech at the historic Federal Hall in the heart of Wall Street, the regulatory reform effort has hit resistance in Congress, casting doubt on Obama’s goal of enacting the legislation by year end.

Treasury Secretary Timothy Geithner last week told a congressional panel that the economy, while still ailing, was in far better shape than a year ago and the government could begin unwinding some of the massive support given to markets. Some of Obama’s global counterparts want Washington to move more swiftly to reform the still vulnerable financial system.

The all-consuming focus on health care legislation, Obama’s highest priority, has overshadowed a package of financial regulatory measures the president unveiled in June.
FULL STORY: http://news.yahoo.com/s/nm/20090914/bs_nm/us_obama_regulation_4
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