Obama pretends to be tough

Politico has a quote little piece about how Barack Obama is pretending to stand tough against Wall Street’s raid on the treasury.

Of course, the only reason Wall Street is actually raiding the Treasury is because of Obama and Obama’s Treasury Secretary, Timothy Geithner.

Obama has already spent tens of billions on corporate welfare on his favorite banks and other financial institutions, such as Citi and Goldman Sachs, all while every week sees the federal government seize local and regional banks.

Citi and Goldman Sachs have enough money to spend on Washington lobbyists, and butter up the Obama administration.  More honest bankers do not.

2 thoughts on “Obama pretends to be tough”

  1. the FDIC can seize only parts of goldman and citi under the law. the little banks that are seized by the FDIC are the same sorts of parts. it would do nothing to the impact the situation to seize those parts of goldman. to the contrary, it would worsen the situation considerably. they would become even more zombie like.

  2. Fed X.,

    to the contrary, it would worsen the situation considerably. they would become even more zombie like.

    This is only true if Obama-Geithner wishes Goldman Sachs (to use your example) to be a zombie.

    On the hand, after the FDIC seizes what it can under the operation of the law, the government could step in with needed cash (in exchange for becoming the corporation’s largest equity and debt holder), or else be a debtor-in-possession, or son.

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