Bank stocks went up after Obama’s so-called financial reform speech. That’s probably because his bill institutionalizes “too big to fail.” It doesn’t break up the banks and it assures them access to Federal Reserve loans as needed. It makes bailouts permanent.
The Goldman Sachs scandal exposes a deep flaw in the bill that we believe can generate enough public outrage to stop this bill – if we can educate people quickly.
The chart and video below lay it out clearly. [Sources].
The Securities and Exchange Commission is investigating whether Goldman acted improperly, but there is no investigation into the left-wing Center for Responsible Lending, which facilitated both the creation of the subprime bubble and its collapse, while CRL’s major donors (John Paulson, Herb and Marion Sandler, and George Soros) made a fortune.
Please fill out the form to tell Congress to vote NO on the fake reform bill and to demand a full investigation into the scandal.