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Taxpayers will never have to bail out bankers again Obama promises
by Joseph Ernest July 21, 2010
Newscast Media -- Barack Obama said that the newly signed Dodd-Frank Wall Street Reform and Consumer Protection Act will protect American taxpayers against any future bailout of the banking industry.
Obama said, "For years, our financial sector was governed by antiquated and poorly enforced rules that allowed some to game the system and take risks that endangered the entire economy. The American people will never again be asked to foot the bill for Wall Street's mistakes. There will be no more taxpayer-funded bailouts. Period."
The new act strengthens the powers of the Federal Reserve, turning the central bank into a systemic risk regulator focused on ensuring the sort of financial collapse seen in the global financial crisis cannot be repeated.
Of course what Obama doesn't say is that the Federal Reserve, which is a privately held corporation, is operated by the same banking cartel that was responsible for the financial melt down. The banks that control the FED are: Rothschild Bank of London, Warburg Bank of Hamburg, Rothschild Bank of Berlin, Lehman Brothers of New York, Lazard Brothers of Paris, Kuhn Loeb Bank of New York, Israel Moses Seif Banks of Italy, Goldman, Sachs of New York, Warburg Bank of Amsterdam and Chase Manhattan Bank of New York.
So how is it possible for them to regulate themselves? It would be just like placing a fox among chickens and assuring the hens that even though the fox previously harmed you, by sticking its paws through the wired fence, I am removing that fence that protected you, and giving the fox more access to you, but this time it will never harm you. I have signed an act, that will keep the fox from hurting you, so there is no need to sleep with one eye open. You'll be safe in the fox's midst. Add Comments>>
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