I thinks so. As evidenced by these headlines.
Obama hammers Wall Street banks
The global banking industry was thrown into turmoil on Thursday after President Barack Obama , responding to public rage over the financial crisis, proposed the most far-reaching overhaul of Wall Street since the 1930s.
In reforms that could force the restructuring of some of the biggest names in US finance, including JPMorgan Chase and Goldman Sachs, Mr Obama promised that “never again will the American taxpayer be held hostage by a bank that is too big to fail”.
Flanked by Paul Volcker, the former Federal Reserve chairman, who has advocated the move for months, Mr Obama called for banks to be banned from running their own trading desks and “owning, investing in or sponsoring” hedge funds and private equity groups.
Tim Geithner, the Treasury secretary, who has come under attack from Democrats on Capitol Hill, backed the plan, officials said, even though his own regulatory proposals have stopped well short of the sweeping Volcker reforms.
According to that report? Geitner is on board with the presidents directives and desires concerning banking. But then on this report? He seems to be a little more than squeamish about the proposal.
Geithner aired concern on bank limits-sources
The sources, speaking anonymously because Geithner has not spoken publicly about his reservations, said the Treasury chief is concerned the proposed limits on big banks' trading and size could impact U.S. firms' global competitiveness.
He also has concerns that limits on proprietary trading do not necessarily get at the root of the problems and excesses that fueled the recent financial meltdown, the sources said.
But a White House official said Geithner was on board with Obama's economic team behind the proposals.
And what about Bloomberg in New York? Even though he is a "progressive," he too sees the writing on the wall if this socialist pipe dream becomes law.
Bloomberg Hammers Obama, Congress Over Bank Plan
Mayor Says President's Idea To Limit Size And Investments Will Lead To Big Problems For NYC, Including Layoffs
Yes sirree Bob, watching the battle between Fabian socialists and hard core socialists and their kin in Europe the Vichy socialists is getting interesting.
There is definitely a power struggle afoot in the midst of the global socialist camp and the battle ground is America. Will the Bilderbergs prevail?
I believe they already have.
1 comment:
If securities rules applied to federal research grants, half the professors would be in jail! Obama's constituencies are universities, lawyers and unions. The universities are in it for the grants. Any Republican that votes money for universities is a traitor. Climategate is what happens when universities become addicted on federal grants for research, so they invent catastrophes like Y2K or global warming to extort a bigger fix of money.
UPI June 6, 1992 Sovern took over at Columbia after student protests of 1968 and New York's fiscal problems in the '70s resulted in less financial support for the school, a situation made more dire by recent federal government budget cuts. . . But Columbia will be looking for a new president in a period troubled by criticism for destroying records that were being reviewed for improprieties. Universities in general have been under greater scrutiny for how they charge the government for federally sponsored research.
Columbia's financial engineering graduates are just programmers pretending to be quants just like their industrial engineers are mostly actuaries.
No other academic department is more responsible for the destruction of both the American banking and automobile industries. Those Trotskyites never believed in American economics and just faked it. You don't see them saying anything how Japan collapsed form all their good advice and you don't see them admonishing their fellow reds in China for bad quality.
They love third world students because they don't expect the professors to work for the tuition! Surely You Are Joking Feynman p 215 "If I ask you a question during the lecture, afterwards everybody will be telling me, 'What are you wasting our time for in the class? We're trying to learn something. And you're stopping him by asking a question'."
Columbia Civil Engineering is controlled by the mafia, which is why all the famous professors whose surnames started with S up and left. Engineering is the only Columbia library that does not check id so mafia contractors can go without a trace.
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