PLAYING BY THE RULES

By Marilyn M. Barnewall
November 22, 2009
NewsWithViews.com

One of the biggest economic dangers we face right now is the attempt by Congressional political hack liberals like Chris Dodd, Barney Frank, Nancy Pelosi, and Harry Reid, who are joined by Lawrence Summers, Timothy Geithner, Ben Bernanke, Robert Rubin, and Henry Paulson to manipulate regulatory controls within the financial services industry.

They walk in the footsteps of the winner of the Nobel Peace Prize, Barack Obama. This Administration wants the financial services industry to be regulated by a core group whose salaries are paid by the financial services industry. He wants to give more power and almost complete control of the various financial regulatory bodies to the same Federal Reserve System that is so out of touch with how things work in the real world economy it didn't see a crisis coming. If a little old lady sitting on a mountain in Colorado could see it years ago, why couldn’t they?

Why is this important? They can't accomplish socialized medicine or world government without it, that's why.

The independent banking community in this country is one of the best defenses America has against the forced centralization of our banks via international regulatory oversight. As long as we have too many independent commercial banks to be easily regulated, we have an effective blockade between socialism and capitalism.

It is interesting to note that the regulatory structure the Administration recommends appears designed to destroy independent banks. They're doing it under the cover of hype about nationalized health care. Some things never change – including the liberal penchant for using fear:

“They’re afraid of health care, so keep that on the front page while we create even more dangerous legislation.â€