Obama '08?

I thought that Obama and the dems said they would cooperate, and that they wouldnt try to hide things.

After all, they demonized Bush when he refused to cooperate with Congress.
Now it seems that they are doing the same thing.

So much for "change" in DC.

But the same people that are now saying its ok are the same ones that slammed Bush for doing the exact same thing.

I just find it interesting that its ok for the dems to do it but not the repubs.

It is not wrong to distrust government. It is not wrong to fear government. In certain cases it is not even wrong to despise government when it assaults liberty. Government is force. Government is the ONLY entity in our society that can use force to accomplish its goals. Whenever in your life you encounter a person or an entity that is legally empowered to use force to accomplish virtually any goal it sets for itself .. be afraid, and resolve to defend yourself when necessary.

Despite all the limited government rhetoric you're hearing from the Republican Party these days, it appears that Senate Republican leaders, including Richard Shelby, are more than ready and willing to work with Chris Dodd to empower the Fed, add more layers of federal bureaucracy to our economy, and set the stage for future crises.

According to Talking Points Memo, Shelby has stated, "We're very close to a deal and there will be a substantial number of Republicans that go along with it."

The White House is doing everything it can in the media to cram yet another powergrab down the American people's throats. A vote could come at any time, so it's crucial that liberty activists make their voices heard immediately.

...

Chris Dodd's legislation, which should be called the "Fed Empowerment Act," ignores the true cause of the recent financial downturn: interference in our economy and manipulation of our currency by Congress, the Treasury, and the Federal Reserve.

For all the talk of "change" in D.C., our elected officials are following the same tired old script: if the federal government created the problem, the only solution must be to give it even more power.

Now Senate leaders want to create a new Consumer Financial Protection Bureau, which will be housed in and funded by the Fed.

And the Dodd bill would create a "Financial Stability Oversight Council" that would have the ability to require nonbank financial companies to be under the Federal Reserve's supervision based not on their current status, but on what effect they may potentially have on the economy!

Who knows how many businesses will soon be targeted and broken up, under the guise of "reform," solely for standing up to the federal government.

Recently, Washington Examiner journalist Tim Carney has done some terrific work exposing the corporatism behind the White House's rhetoric.

To see how Obama's "reform" plan will actually benefit the big banks and Wall Street firms, especially Goldman Sachs, at the expense of smaller companies and the rest of us, click here to read his piece entitled "Goldman rallies for Obama in Wall Street 'reform'."

Don't let Chris Dodd strengthen the federal government and further entangle the Federal Reserve in our economy without a fight.

Remind your elected officials that any serious effort at true financial reform should start with thoroughly auditing the Federal Reserve.

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The American people have already suffered too much because of Washington's previous interference in our economy.

Together, let's take a stand for freedom and true reform by opposing the Dodd Fed Empowerment Act and pushing for a long overdue standalone vote on Audit the Fed.

In Liberty,

John Tate
President, Campaign for Liberty

Chris Dodd's legislation, which should be called the "Fed Empowerment Act," ignores the true cause of the recent financial downturn: interference in our economy and manipulation of our currency by Congress, the Treasury, and the Federal Reserve.

It was more then just the Bush WH that screwed up.

bad bets made by private individuals in the name of greed and profits

You cannot lay the blame solely on Bush alone, the problem existed before he took office.

2006
...
*11/07"Democrats win majorities in both houses of Congress. The U.S. economy is growing at about 3 percent, unemployment is at 4.5 percent, and inflation under 2 percent.

2007
*06/23"Two Bear Sterns hedge fund groups collapse due to their mortgage investments.
*08/09" President Bush requests Congress pass a reform package for Fannie Mae and Freddie Mac.
*12/06" President Bush warns Congress of need to pass legislation reforming GSEs (i.e., Government Sponsored Enterprises) .

2008
*03/14"J.P. Morgan and the Federal Reserve recognize extent of Bear’s toxic assets, including sub-prime mortgages, and credit default swaps, and interconnection with other banks.
*03/14"At Economic Club of New York, President Bush requests Congress take action and reform Fannie Mae and Freddie Mac.
*04/14"President Bush issues a plea to Congress to pass legislation reforming Fannie Mae and Freddie Mac.
*05/03"President Bush issues a plea to Congress to pass legislation reforming Fannie Mae and Freddie Mac.
*05/19"President Bush issues a plea to Congress to pass legislation reforming Fannie Mae and Freddie Mac.
*05/31"President Bush issues a plea to Congress to pass legislation reforming Fannie Mae and Freddie Mac.
*06/06"President Bush issues a plea to Congress to pass legislation reforming Fannie Mae and Freddie Mac.
...
2009
*02/10"Treasury Secretary Tim Geitner unveils the Administration’s $2 trillion TARP II plan, and the Dow drops 382 points, or 4.6 percent
*02/17"President Obama signs a $787 billion bailout bill.
*02/18" President Obama reveals his mortgage bailout plan.
*02/19"Rick Santelli says in an impromptu speech on the floor of the Chicago Mercantile Exchange: "The government is promoting bad behavior … How many of you people want to pay for your neighbor’s mortgage? President Obama are you listening?" Santelli calls for a "Chicago Tea Party."
*02/20"The market falls as Chris Dodd, chairman of the Senate Banking Committee floats the idea of nationalizing the nation’s banks. The White House issues a denial, and the Dow ends down 100 points. The Dow is down now more than 800 points"nearly 10 percent"from the day before President Obama’s inauguration.
*02/21"Soros says, "The financial crisis marks end of a free-market model."

CRA, Fannie & Freddie were together the first cause of the financial downturn

It is interesting that Bush turned out to be much more dangerous and effective, in a negative sense, than any Muslim. Bush destroyed our economy and nearly ruined the country. I am not sure we will ever recover from him.