"Federal Reserve Bank of Dallas, 2011 Annual Report"
"Choosing the Road to Prosperity, Why We Must End Too Big to Fail—Now"
"The too-big-to-fail institutions that amplified and prolonged the recent financial crisis remain a hindrance to full economic recovery and to the very ideal of American capitalism. It is imperative that we break up the big banks.
- Complete Issue
- Letter from the President
- Essay: "Choosing the Road to Prosperity"
- Exhibit 3: Employment Plummets as Financial System Implodes
- Year in Review
- Senior Management, Officers and Advisory Councils
- Boards of Directors
- Financial/Audit
"
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12/10/09, Obama's moves threaten to "vastly amplify Wall Street's political power," Rolling Stone, Matt Taibbi
Image of Obama and bankers accompanied the Rolling Stone article from Dec. 2009 posted on the blog InfiniteUnknown.net. I'm guessing it came from Rolling Stone but not sure.
12/10/2009, "Obama's Big Sellout," Rolling Stone by Matt Taibbi
(I copied the article when it came out. It's now archived for a fee at Rolling Stone I believe. ed.)
"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. This new team of bubble-fattened ex-bankers and laissez-faire intellectuals then proceeded to sell us all out, instituting a massive, trickle-up bailout and systematically
- gutting regulatory reform from the inside.
Whatever the president's real motives are, the extensive series of loophole-rich financial "reforms" that the Democrats are currently pushing may ultimately do more harm than good. In fact, some parts of the new reforms border on insanity,
- threatening to vastly amplify Wall Street's political power by
- institutionalizing the taxpayer's role
- as a welfare provider for the financial-services industry.
At one point in the debate, Obama's top economic advisers demanded the power to award future bailouts without even going to Congress for approval — and without providing taxpayers a single dime in equity on the deals.
How did we get here? It started just moments after the election — and almost nobody noticed."Just look at the timeline of the Citigroup deal," says one leading Democratic consultant. "Just look at it. It's fucking amazing. Amazing! And nobody said a thing about it."
Barack Obama was still just the president-elect when it happened, but the revolting and
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Ed. note: Bush was bad but Obama is much worse. He had all the resources in the world to make things better but made them worse, stunning those who voted for him, per Rolling Stone's Taibbi.
via Free Republic
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