The horrendous economy that Obama inherited was caused by the collapse in the housing market and the failure of new financial products like credit default swaps and mortgage-backed securities. The failures weren’t limited to just government officials. Lawmakers at the federal and state level failed. Wall Street failed. Insurance failed. Credit rating agencies failed. Democrats, Republicans, capitalists, and communists failed.
The failure destroyed our pensions and the value of our homes. The criminals who stole our wealth may never see the inside of a jail cell but at a minimum we owe it to ourselves to make sure that we change the rules to ensure that we never let the Wall Street/Washington cartel perpetrate such horrendous crimes against the American people.
President Obama let the two criminals who sold the American people out for peanuts write the “reform” that pretended to address the failures. Those criminals are Barney Frank and Chris Dodd and both have been chased into retirement but their final criminal act is slowly putting all of us at risk again. The Dodd-Frank financial reform is the final criminal act by two of the most despicable criminals in American history. The legislation further consolidates the Wall Street monopoly and is a dangerous piece of legislation that stifles competition by legally protecting the gangsters at investment banks like Goldman Sachs by protecting them from honest competition.
Notice that this gigantic Wall Street giveaway is not being promoted by the Democrats. It is a criminal piece of legislation and they know it. I could go on and on but Newt said it best. “The two biggest problems with Dodd-Frank is Dodd and Frank!”
This should be the issue of the election but the Republicans and the media are too afraid to attack Wall Street’s latest power grab. Our work has never been more important.