Obama’s “Financial Regulatory Reform Plan” is Banksters Consolidating Their Power!

• Obama is just a mouth piece for his corporate sponsors: Wall Street Banksters. See: Wall Street is investing heavily in Barack Obama. Jonathan Weil comments, Obama Stakes His Fortunes on Failed Banksters :
    
  The Obama administration’s “strategy,” for lack of a better word, is to keep plying broken financial institutions with as much taxpayer money as the government can print. And so the government will keep subsidizing failed mega-banks indefinitely, rather than placing any into receivership or liquidating them.
   
  Taxpayers at Risk
  The latest iteration of this policy is the Treasury Department’s Public-Private Investment Program. In short, struggling financial institutions will be encouraged to swap their most toxic mortgage-related assets with one another at inflated prices. The purchases will be financed by big government loans, so that taxpayers are at risk for the bulk of any losses.
   
  If the government wanted transparency, it would force financial institutions to write down their bad assets now, and figure out afterward which companies deserve taxpayer support. Instead, the Treasury plans to recapitalize them first, keep their current financial condition hidden, and let their failed managers stay in their jobs.
   
• So what about Obama’s new financial reforms? Kurt Nimmo opines:
    
  Obama’s misnamed “Financial Regulatory Reform Plan” is a brazen attempt by the bankers to consolidate their power. Obama — or rather, the bankers who own Obama — has devised something called a “Financial Services Oversight Council” to be chaired by the bankster dominated Treasury Department. This uber-council would call the shots for every financial firm in the country and supposedly refer “emerging risks to the attention of regulators with the authority to respond,” even as Obama plans to call for the U.S. Office of Thrift Supervision to close under the direction of the Federal Reserve.
   
  Instead of independent bank regulators, Obama proposes a “National Bank Supervisor” who would have “separate status within Treasury and be led by a single executive,” according to Clusterstock. The NBS czar would occupy a centralized post in enemy territory and “take over the prudential responsibilities of the Office of the Comptroller of the Currency, which currently charters and supervises nationally chartered banks and federal branches and agencies of foreign banks.”
    ….
  Wall Street and its international offshore banker overlords are addicted to derivatives. “These derivatives now amount to a total worldwide notional value that can be estimated between 1 quadrillion and two quadrillion US dollars. This sum is so large that it dwarfs the total value of the entire planet earth and all those who live here,” notes Webster G. Tarpley.
   
  If you think Obama and crew plan to do something about this massive black hole, I have a bridge to sell you on Krypton.
   
  Obama’s “Financial Regulatory Reform Plan” is but another bankster scam. It is an obvious plan to grab up more industries and goodies under the guise of “regulation” and (ack) “consumer protection.” So contemptuous of you and your family are the bankers they don’t even attempt to make this threadbare nonsense plausible. It is thievery right out in the open.
    
  Our only hope at this point is the Federal Reserve Transparency Act, HR 1207, now up to 232 co-sponsors. It needs a two-thirds vote with 290 members on board so the bankster tool Obama will not veto it.
   
  On that day of its passage there will be a short cry of hosanna — and then we will open the Fed’s books and begin the process of delivering the criminals to justice and closing down the Federal Reserve Crime Syndicate once and for all.

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