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Obama Signs Financial Reform Bill, Promises No More Taxpayer Bailouts

July 26, 2010 by  

Obama Signs Financial Reform Bill, Promises No More Taxpayer BailoutsFollowing months of contentious debate and partisan name-calling, President Obama signed into law last week a Democratic-backed financial reform bill, ushering in the most aggressive overhaul of Wall Street regulations since the Great Depression.

Obama said the new rules, which were authored by Senator Christopher Dodd (D-Conn.) and Representative Barney Frank (D-Mass.), will guarantee "the strongest consumer financial protections in history," and ensure that American taxpayers will never again be forced to fund a Wall Street bailout.

The measure has been heavily criticized by congressional Republicans who feel that it will grant unreasonable power to Federal regulators and stunt the growth of the already weakened economy and struggling job market.

In fact, Republicans took exception to several aspects of the legislation, including its creation of new agencies that can limit certain forms of trading and break up financial firms that threaten the economy.

"This financial services reform is nothing more than a permanent bailout of Wall Street that will restrict credit, kill jobs, raise taxes and expand government control of the private sector," said Representative Mike Pence (R-Ind.), who plans to push to repeal the law, The Los Angeles Times reports.

The president disagreed, telling a group of supporters at the Ronald Reagan Building that the law will safeguard taxpayers and "bring the shadowy deals that caused this crisis into the light of day."
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  • JC

    We’ll need to repeal everything this trespasser has signed. And while we’re at it, a few things Bush signed too.
    A strict return to the Constitution is the only thing that will put American Liberty and economic health back on its feet.

    • CJB

      Repealing things that go back before Obama and Bush, like the all the way back to Woodrow Wilson and the Federal Reserve Act too. We the people need to take back control of our wealth. The Federal Reserve System has been the root of the problem from the word go. It has swindled us of our wealth and given us worthless paper that has no tangible backing, other than legal tender laws.

      A lot of the FDR agenda can be tossed too.

      • Deborah

        I agree!

    • Peter

      If we get the chance. The reason the Liberals keep getting in the door is because there are more bottom feeders out there that want their life handed to them on a silver platter at tax payer’s expense than there are people who want to work and keep the fruits of their own labors. Wait until the government finally manages to repeal the 2nd ammendment! If they do then you can say hello to the socialist/communist way of life because once they disarm Americans we won’t be able to defend ourselves against an oppressive government! They are only succeeding because of those who want something for nothing! They don’t care that the rest of the country (productive Americans) have to pay for it!

      • http://?? Joe H.

        Peter,
        The giverment is just feeding it when they give two years of unemployment!

  • Ellen

    Very well said, JC.

    • Dave

      That is the same thing everyone on here says JC. Way to spout out what your heard Glenn Beck say.

      • Vicki

        That shows us, who think for ourselves and actually bothered to READ the Constitution, that Glen Beck is one of US. That he has read the Constitution.

        Since most of our lawmakers do NOT read the bills they pass why should we believe they have read the document they swore an oath to protect.

        Btw have you read the Constitution?

  • http://YAHOO ED FOUTS

    OBAMA IS A LIAR IMPEACH THIS MUSLIM HE HAS COMMITTED
    TREASON
    EXTORTION
    BRIBERY
    THREATS
    AGAINST OUR COUNTRY
    OBAMA IS A CORRUPT CRIMINAL THUG FROM A MUSLIM COUNTRY KENYA
    WHAT MORE DO YOU NEED TO IMPEACH THIS THUG
    BILL CLINTON WAS IMPEACHED FOR SEX SCANDAL

    • Robert

      Well said. But, Bills hummer didn’t screw up the Country.

      • Anthony

        No, Robert – you are correct.

        However, his signing of NAFTA and GATT did push thousands of jobs outside our borders…. think long and hard about that. Not too mention his allowing “Able Danger” to be suppressed. The 9/11 Hi-jackers were in this Country in 1998… already proven.

    • Dave

      How is he a thug? How can you say this reform bill wasn’t necessary. The Republicans are just telling you what you want to hear to make sure they win back seats they lost. Everythign will go back to the way it was in the Bush years and we’ll all still be unhappy but you right wingers will still blame the Dems and Obama and honestly, us left wingers will still blame you guys and nothing will really change.

      • Ed L.

        Dave,
        What you forget is that it was politicians, both Democrat and Republican, who screwed things up in the first place by trying to stop the widening of economic inequality by turning the credit market into an under-the-counter welfare state. The trends that shook the world economy came out of Fannie Mae and Freddie Mac, the FHA, and the Dept. of Housing and Urban Development.
        HUD required that low income loans make up 50 percent of Fannie and Freddie’s portfolios. The Bush administration raised that to 56 percent. By 2008 the FHA and various other government programs were exposed to about $2.7 trillion in subprime and Alt-A loans. The American Enterprise Institute found that government-mandated loans accounted for two-thirds of “junk mortgages.”
        In fiscal terms, in credit terms, the “change” that Obama is delivering consists of pursuing the same fiscal policy his predecessors did, only more so.

        • Claire

          Both parties had a hand in this mess and it has been going on for decades. It will take years to get out of it.

      • Peter

        Well…Let me see now…Oh yeah, Black Panthers at the voting booths to intimidate voters in to voting the way they wanted them to (not much said about it but if the KKK had been at a voting booth you sure would have heard an outcry, huh?), passing edicts without votes being cast, Oh and the fact that the sucker was born in Kenya and not America and really shouldn’t have been on the ballot! Hmmm…but you already know all this so why ask such a stupid question in the first place?

  • Cribster

    “Authored by Senator Christopher Dodd (D-Conn.) and Representative Barney Frank (D-Mass.)”

    I’m sure that having the two people that caused the housing crisis and subsquent crash of the economy create this bill will do wonders for America.

    We’re in deep mierda! Dodd and Frank should be put on a firing line and dispatched.

    • Dave

      WHAT!!!!! How did they cause the housing crisis? It was deregulation that caused the housing crisis not Barney Frank. How did you even come up with that one? It never ceases to amaze me.

      • Peter

        Just study up on WHO HAS BEEN IN CHARGE OF Fanny Mae and Freddy Mac all this time and you will understand and won’t have to ask WHAT???

      • Vicki

        Perhaps this will amaze you even more Dave.

        Democrats in their own words contriving to block GWBush and the Republicans from imposing regulations.

        http://www.youtube.com/watch?v=_MGT_cSi7Rs

        Only one link to a post so you can search for more. Oh look up CRA (Community re investment act) and who passed it and who increased its effect. And while you are on this trip of discovery be sure to note who brought suit against banks who failed to loan enough money to people who could not pay for them. (Obama Obama Obama)

  • Rick

    I find a few of the items in this law very disturbing. The provisions giving the government power to break up and private firm that it “feels” make threaten the US economy is a major move away from constitutional law. I do not see how it will stand up to a legal challenge even though that is a moot point. Since Obama has already ignored 2 federal court orders. I know it will never happen and personally i hope it doesn’t, because it will be a major embarrassment for the US. But could you imagine either of the federal courts issuing an arrest warrant for Obama for contempt of court?

    • eddie47d

      Great! The Republicans don’t want us to do anything about those businesses who threaten the economy. Republicans= Business as usual. Corruption as usual. All of you defending Wall Street greed and bank schemes need to line up at the wood shed. Take Dodds with you for you are no better. The Constitution is also meaningless if our financial sector can trash it and do as it dang pleases.

      • Dan Burke

        You will accuse the financial sector of being corrupt and scream how we need to protect ourselves from the greed. Well, here’s a little eye opener for you (if you are willing to open your eyes to see). Some of us scream to keep government out of business because we see that there is a bigger problem. We believe that the uncontrolled greed in Wall Street runs a lot deeper and wider than that. It speaks volumes about us as a people. We cheered, we ranted, we told them to go all out as our retirement portfolios and other investments ran amok because we thought it would never be a problem. We wanted this. Unfortunately, we the bubble popped, instead of blaming ourselves, we blame the people we hired and gave control of our investments to. And then we turned to politicians to fix the problem. Unfortunately, if we as a people have become greedy and without morals, than what sort of people are our politicians? See, they come from the same pool of morals that we encouraged in Wall Street because these are the morals we accepted of ourselves. So when we want government to stay far, far away from banking, it isn’t because we find banking blameless, it is because we fear that you are being blind. You are so focused on your pain and suffering, as well as the pain and suffering of those around you, that you have adopted tunnel vision as you cry for government controls. So you will swap corrupt investors for corrupt politicians. We look and think that corrupt investors can go to jail, go bankrupt, lose their jobs, and many other options are available to us. But corrupt politicians only go to jail under the most extreme situations and usually not only avoid jail but also get reelected and retain their power, politicians will not go bankrupt for bad laws–they just raise taxes, and usually corrupt politicians are elected into office year after year because it is very easy to feed off OUR greed by making US promises of benefits, protections, and even money for our jobs and businesses. I will take the corrupt investor over the corrupt politician almost any day. Not because I trust either of them, but because the one I believe will get his just rewards for his actions while the other will be rewarded again and again be called a hero for doing so. Unfortunately, I think that by the time Americans awaken to the danger they are in, we will still fail to recognize that our escape is by giving up our OWN greed.

        • Shelby

          Great comments Dan!!!! You nailed the REAL problem on the head. It’s OUR greed for money and stuff that has driven everything and produced the politicians and business people we feel are so corrupt. We demanded they be less than honorable so we could get MORE for ourselves and then cry foul when things don’t go our way. But the problem has one more facet to it. Now that these politicians and business people have achieved this kind of power over us and see that we are starting to wake up to there schemes, they are working to divide We The People along whatever lines they can (i.e. race, class, etc). As long as we remain divided they can conquer and control us, and rule over us. I pray people will realize that they need to set aside their greed, pride, and personal grudges and rise up together against the people who would use our LOVE OF MONEY against us, to enslave us. WAKE UP AMERICA!!!!!!!

        • Peter

          Forgot to throw in LAZY! We have become to lazy and apathetic for our own good. That’s why people run to government for their solutions!!

        • vicki

          Politicians use guns to force their power over us. What force does business use?

          • Anthony

            Vicki -
            I’m sure you mean well, but please do your homework before you spot off. It comes off as complete sophistry. Business can manipulate the economy in multiple ways. Have you ever taken Macro-economics? What’s more, it’s the captains of industry in league with politicians who have screwed us, time and again… read Hamilton’s Curse.

  • Colo43

    all hes good at – are lies and promises.The promised he breaks at will.
    The lies only become larger.

  • FlaJim

    Bailout provisions are built into this bill. Do these arrogant morons really believe we can’t read?

    • Dan Burke

      It won’t be a “bailout” because it was given a new name. See, new name. Thus, not a bailout. By that logic, all I need to stay out of hell is a new name then I am saved…. I have nothing against a new name for it, but I am against the stupid assumption that all it takes is a new name to fix things. My proposed new name would be “more wasteful spending.” I think that would be a good name for a bailout. Or maybe, “wishing well cash.”

      • http://?? Joe H.

        Dan Burke,
        Only in the progressives group is a bailout not a bailout, a liar not a liar, and a theif not a theif!!!!

    • vicki

      They can’t read (as evidenced by how few read the bills they pass) so they probably assume we can’t either.

  • Bruce

    There is very little to say about this sham of a bill, that the very word {SHAM} fails to cover. We may as well just go to the Jail house and get the best grifters we can find to run Congress and the Senate, as we have rather poor grifters working there now. If you bother to look, you can see right through the rhetoric within this bill.

    This bill is akin to asking a pack of fox’s to guard the hen house’s. So just how well do you think that would work out?

  • bill in mn

    First of all everything that happened to create and further expand this financial crisis, should have been seen and regulated by THE HOUSE OF REPRESENTATIVES, as they are the ONLY part of the government of THE UNITED STATES that has the authority to regulate financial dealings of this country. Not a single dime can be raised in taxes, fees, tariffs, etc. without their express authority nor can any monies be spent without their authority. They and they alone are responsible for not regulating the sub-prime loans and the markets that developed as a result of them. It amazes me that learned adults in the media and in this administration still blame the Bush Administration for the financial mess. It is a lie, plain and simple and the Congress wants you to believe it so they don’t have to take the blame.
    One of the basic tenets of credit is that you do not loan money to an individual or business for all that matter unless you satisfy three things. 1. You must provide proof of stable income, giving you the ability to pay back the loan. This is you must have a stable job with proof that you will be employed in that job for at least the term of the loan or mortgage. You must prove your income by tax returns or payroll stubs. 2. You must demonstrate that you have a good credit history, showing that you have used credit in the past and have repaid loans on time as agreed. You demonstrate that you “keep your word”. 3. You have to make a down payment on the loan or mortgage so you have something to lose if the loan goes bad for any reason. You usually have to put 10% down so the lender has a cushion in case the loan goes bad and he has to repossess. This way it improves the lender’s ability to break even and it makes sure the borrower won’t arbitrarily default on the loan. This has been the way credit has been handled all over the world for the last hundred years at least.
    Then along comes President Jimmy Carter in 1977 who signed the COMMUNITY REDEVELOPMENT REINVESTMENT ACT into law to help provide affordable housing to low income people who couldn’t meet the traditional loan requirements of the last 100 years. (ADMIRABLE IDEA…RIGHT?) Then in 1995, President Bill Clinton strengthened the COMMUNITY REDEVELOPMENT ACT, with the approval of THE HOUSE OF REPRESENTATIVES. Clinton and his Democratic friends Barney Frank, Christopher Dodd, and Barack Obama worked on the credit rules to do away with the income requirement that had to be proven, eliminated the down payment, and ended the credit requirements. All three then went to the banks and threatened them with lawsuits (Obama filed three lawsuits against Citibank.) and demonstrations, and boycotts, in poor neighborhoods if they didn’t make these loans. Barney Frank even admonished them “you have nothing to lose as they are government guaranteed”. Again, his exact words, not mine. The guarantee part was the loans were bought by FANNIE MAE AND FREDDIE MAC, government sponsored entities staffed by Democratic Party friends of Bill Clinton, such as Franklin Raines, Jim Johnson Jamie Gorelick and RAHM EMMANUAL, who is now Obama’s chief of staff and number one advisor. These executives paid THEMSELVES $200,000,000.00 in only six months time. FANNIE MAE AND FREDDIE MAC also paid Cristopher Dodd (D-CT), Barack Obama (D-IL) and John Kerry (D-MA) some $360,000.00. Did any of this come out in the media during the Presidential Campaign? The Democratic Party controlled THE HOUSE OF REPRESENTATIVES since January 2006. FANNIE MAE AND FREDDIE MAC spent $150 million dollars in lobbying in ten years to keep the Republicans and media away from them.
    Now the stage was set for the feeding frenzy that drove THE UNITED STATES OF AMERICA to the brink of bankruptcy.

  • bill in mn

    NH SECRETARY OF STATE AGREES TO INVESTIGATE
    by John Charlton
    (Sept. 12, 2009) —

    New Hampshire State Representative, Lawrence M. Rappaport payed a visit to Mr. William Gardner, the NH Secretary of State, on Thursday, Sept. 10th.

    His stunning request: an investigation of Barack Hussein Obama’s presence on the NH 2008 Ballot.
    Gardner’s stunning response: an investigation will commence.

    “I interviewed Mr. Rappaport by email, and asked him, on what basis did he make his complaint; he responded, “The basis for all of this is possible fraud. I don’t know what penalties will be assessed if fraud is proven.”

    Rappaport’s action follows stunning revelations that Nancy Pelosi deliberately signed two different forms certifying Barack Hussein Obama was the Democratic National Party candidate for the presidency. While these forms have been known to exist for some time, it was J.B. Williams, writing for the Canadian Free Press who brought them national notoriety, earlier this week.

    It is unclear, if, in the eventuality that New Hampshire determines fraud was committed, on the grounds that Barack Hussein Obama is not a natural born citizen of the United States, if the State will move, through its governor, to take some sort of action on the National scene, or who would be liable in law for the crime committed in-state.

    Those familiar with the cases brought by Cort Wrotnowski (Connecticut) and myself (New Jersey) will recall that we each sued the Secretary of State for failing to perform the ministerial duty assigned to them regarding their responsibility to protect the integrity of the ballots according to state statutes and their Constitutional oath of office.

    Both of these cases made the unique argument that these two legal duties, state and federal, were fused in the Secretary of State who is the head of elections in each respective state.

    Any investigation by Secretary of State Gardner needs to start with an investigation of what he personally did to verify the eligibility of Obama as that was his responsibility to the voters of New Hampshire.

    If Secretary of State Gardner was unaware that Obama was a British citizen at the time of his birth, he should say that and state for the record what his position on that issue is. Alternatively, he needs to explain how – if he was aware of this fact – he came to the conclusion that Obama was eligible to be on New Hampshire ballots.

    The issue of Obama’s British birth needs to be brought to the national table separate from the birth certificate issue. For anybody who was aware of Obama’s British birth admission, Pelosi’s certification could not have settled the issue of whether Obama was eligible since Pelosi and the DNC are not the United States Supreme Court which has never specifically addressed this question.

    But the Supreme Court has, in various cases, indicated that the native born son of an alien is not considered to be “natural born” even if he is a US citizen at birth. “Natural born” does not mean a person is a different type of citizen with different rights. Rather, it is a circumstance of birth required by the framers – as a national security measure – to be President and Commander In Chief.”

    —— Being a “natural born” citizen is a NATIONAL SECURITY issue! —–

    Remember when I asked over and over again in my posts WHY it was so vitally important for the POTUS to be a “natural born” citizen. No one could answer. Some even believed that this meant that he only needed to be a citizen!

    HISTORY: Because our Founding Fathers were acutely aware of the habits of British Monarchs of marrying outside of the realm and because they were often members of a European Royal Family, born and/or raised in Holland or Germany for example, the attitudes, alliances and cultures of these Monarchs were often alien to the people of Britain causing all kinds of internal strife, discontinuity of customs and religion and serious upheavals. Ergo, our Founders made it necessary for our President and the leader of our Armed Forces to be a “natural born” citizen, thereby reducing potential threats to our culture, safety, and security.

    TODAY: For the first time in our history, an alien (born a Kenyan in 1961 and therefore a British citizen at birth) has been able to snow his way into the office of President, AND LOOK AT THE MESS HE HAS CAUSED! Like Ted Kennedy previously it is his intent to LEGISLATE our Constitution out of existence!

    • vicki

      I am truly surprised that more people do not understand this. Our founders KNEW that the President should not only be born American but be raised in our culture. At the time travel was hard enough that they thought “born” would be enough.

      What this means btw is that even if Obama was born in Hawaii he spent most or all of his formative years in other cultures. Then there is College which as all of us know who went there you are in yet a different culture. :)

    • Deborah

      For the office of president…Both parents must be naturalized citizens…just thought I’d add that in…good job!

  • s c

    For those who don’t know how false gods and politicians operate, when Herr Obummer claims there will be “no more” taxpayer bailouts, he means that Wall Street and banks and ANYONE can make him look good or throw him easy votes will get all they want.
    Obummer is a consummate liar, and it wouldn’t be at all surprising if he told the truth that his flapping tongue would rot and drop out. Is fair not fair?
    Get used to it, progressives, your false god is using you and the rest of us to destroy what was the best nation in the world. Now, it’s a festering, decomposing hulk – compliments of insanity via politics.
    And when your false god is out of the White House, it will be time to do to you what you’ve tried to do to America. Enjoy. You so deserve it.

  • Rush Housel

    OBAMA TALKS ABOUT PROTECTION FROM WALL STREET. THE U.S. CITIZENS NEED PROTECTION FROM OUR OWN FEDERAL GOVERNMENT. WALL STREET DID NOT CAUSE ALL THE STEALING OF TAX PAYERS DOLLARS. THE HOUSING BUBLE WAS THE GOVERNMENT AGENCIES: FANNY MAE, FREDDY MAC, FEDERAL BANKING, AIG, DID THE DAMAGE ALONG WITH DODD & FRANKS. DODD AND FRANKS TWO OF THE WORST REPRESENTATIVES IN CONGRESS. THE SECURITY EXCHANGE COMMITTEE LOOKED THE OTHER WAY ON WALL STREET, WHILE WALL STREET CEO’S, THEIR ACCOUNTANTS & LAWYERS FEASTED ON THE GENERAL STOCK HOLDERS. END RESULTS: ALL THE CORRUPTION AN THE TAX PAYERS ARE HELD FOR RAMSON TO FIX EVERYTHING. THERE IS NEVER ANY ONE PUNISHED EXCEPT THE TAX PAYERS. THIS IS WHAT OBAMA AND THE GOVERNMENT HAS DONE FOR US, PUT US IN DEBT WE WILL NEVER GET OUT OF, MADE US ACCEPT HEALTH CARE THAT WILL END IN DISASTER, BP OIL SPILL THAT IS DEVASTING THE GULF COAST, ILLEGAL IMMIGRATION, CHANGING THE MISSION OF NASA TO HOLDING HANDS OF MUSLIMS, A WAR THAT THEY WON’T SUPPORT, NOT SUPPORTING ISRAEL, SENDING MANUFACTURING OVERSEAS, CAP & TRADE, 73 TRILLION BAILOUT, OBAMA SAYS NO MORE WALL STREET BAILOUTS, WHAT ABOUT ANY OTHERS:BANKS, GENERAL MOTORS, ETC. DO NOT BELIEVE WHAT OBAMA TELLS THE AMERICAN TAXPAYERS HE IS A CON-MAN. HOW CAN THE GOVERNMENT TAKE ANY CREDIT FOR ANYTHING. THE TAX PAYERS ARE PAYING FOR EVERYTHING THE GOVERNMENT SCREWS UP. THE OBAMA ARROGANCE EXTENDS TO THE SIGNING THE FIANICAL REFORM BILL IN THE RONALD REAGAN BUILDING. A WAY OF TELLING RONALD REAGAN TO STICK IT UP HIS BUTT. BIGGER GOVERNMENT WILL ALWAYS GIVE THE TAX PAYERS LESS MONEY TO SPEND FOR LIVING EXPENSES.

    • Vicki

      Wallstreet doesn’t tend to come into your house with guns drawn to make you buy their product. The US Government does. Especially with the new health care stuff.

  • Rush Housel

    OBAMA’S PROMISES ARE A EMPTY WELL

    • Deborah

      His promises may be empty but his pockets are full!

  • fatmansplicer

    OBAMA IS GETTING BAD ON HIS SPEACHES HE CAN’T REMEMBER ONE LYING SPEACH FROM THE OTHER!

  • Rush Housel

    WHAT ABOUT ALL THE SHADOWY DEALS OBAMA HAS PULL IN A YEAR AND HALF.
    oBAMA IS THE CON ARTIST.

  • fatmansplicer

    IF THE DEMOCRAPS WIN AHY THING IN NOVEMBER IT IS FIXED AND ITS TIME TO GET THE GUNS OUT!

    • Claire

      Good grief.

  • fatmansplicer

    OBAMA GOTTA GO OBUMER GOTTA GO OR WHO EVER HE IS HES GOTTA GO!

  • mavis

    Dodd and frank, these two names will go down in history as the two most corrupt senators that we have seen in a long time, Dodd will not seek reelection,because he couldn’t win, his own state finally found out who he is.
    Frank ( from Mass,the land of the blind,deaf & dumb)
    who keep electing this scumbag wrote this bill? You can bet your bottom dollar that it is not good for America.
    But then neither is Obama. We need to nullify all of them in November. Remember OBAMACARE is our battle cry!!!!!!!!!!! mehpensacola,fl

    • dan of arizona

      Mavis
      there were three obumer was also a senator

    • Deborah

      Don’t forget the Pole Cat and Reid!

  • chuck b

    for the bush hating and blaming crowd

    http://www.youtube.com/watch?v=cMnSp4qEXNM&NR=1

  • Eugene Edwards

    President Barack Obama has one more piece of stimulus left to do. 49 states of the Union are running deficits that threaten their solvency and their ability to perform the functions of government as we know them. He and the Republican Congress of 2011/12 will have to approve a “bailout” plan for the states. Not all of them will take it, many won’t want it, but all but one need it. (North Dakota is benefiting from oil discoveries in the state and will not need help)Conservatives will call him everything but a child of God, but they will sign on to this piece of “change” because they will have no choice once their constituents start telling them horror stories.
    President Barack Obama will be happy to sign the bill.

    • chuck b

      e. edwards

      take california for example. our state is and has been through out the years controlled by democrats. their “liberal agenda”, allowing the illegal invasion, welfare state, heavy state and fed employment. schools in shambles caused by their catering to the school union. (a republican governor might as well stay home.) if they are bailed out by barry and the congressional thieves, how do you propose they will not just go deeper in debt? “no bail out”let them go bankrupt, like barry should have the car companies (that was to save the unions) when the civil employees of california lose their gov. teat, then maybe they will wake up and stop voting for the liberals, or maybe just give the state to the illegals and let them figure it out.

  • Melody

    Did you ever realize that it is the governments of the world that create the problems of the world? War, hunger, poverty? Power of a few that control the masses. America is ruled only by the compliant masses…. well we are not compliant anymore, and the government needs to realize there is a fourth branch of government, and that is “we the people”. They can’t control, dictate, or govern without our consent. The government needs to learn to serve, not dictate, to listen, not talk, to obey the constitution, not create the rules as the go along. The TEA PARTY says it all, taxed beyond our means, government spending recklessly, and government invading our freedoms of speech, religion, and the right to bear arms. Government needs to shut up, sit down and listen. WE HAVE HAD ENOUGH!

  • MsKitty

    less government, less law, and MORE JUSTICE!!!!!!!!!!WE SHOULD ALL BE PUTTING IN OUR COMMUNITY TIME!!!!!!!!!

  • Karen

    How about no more bailouts for DC? That means no more Federal income taxes, Social security taxes and Federal sales taxes. Imagine that? The tax burden for all the states would drop from 60% to 10% without losing any services.

  • Stephen Russell

    Fin Reform Id like see:
    Credit card rates at 7% Fixed.
    Fixed home mortg rates.
    Raise credit card rates for Heavy Users.
    Raise credit for Good users IE add 10,000 to line,.
    Or move to higher card.
    Merge Home loan types & student loans
    CUT bureucracy in The Fed & Treasury Alone for savings.
    Tie credit to GNP & GDP.
    Incentives to Save in school Ed taught.
    Tie bailouts to Co performance, Under performing gets Less.
    or CEO performance.
    Combine loans by type IE auto, RV, motorcycle etc.
    Make simple to read loans.
    Low Interest rate Loans for Good users.
    NO More Loan Shark rates for loans & credit.
    Scrap new Federal agency.
    Merge CBO & OMB for savings, IE 15B.
    adopt Flat Tax Plan
    Redo SS System & Medicare.

    Then we can be Great again.

    • Vicki

      What is stopping you from creating this credit card company?

  • Anthony

    Quote:
    The president disagreed, telling a group of supporters at the Ronald Reagan Building that the law will safeguard taxpayers and “bring the shadowy deals that caused this crisis into the light of day.”

    The above, was THE FED spittin’ on the good name of Ronald Reagan. What’s more, the Press People KNOW IT. They’re just too scared or too indoctrinated to be straight with the all of us. Obama could care less about Ronald Reagan. Reagan cost Volker, Kissinger, Rockefellers and Morgans 25 years on their NWO Gambit… especially after the 1981 assassination attempt failed like it did. They ain’t gonna stop now. They’re already in 3rd gear on the friggin’ process.

    I just wish there was a way to FORCE people into waking up, before it’s all over. In many ways, it’s already too late on several levels.

    Tell me I’m wrong – but do it with proof.

  • coal miner
  • Anthony

    OKAY – READ THIS … and lemme hear you lefties rave on….

    offthegridnews-com/2010/07/26/silencing-the-internet/

  • Danny

    Thought you’d get a chuckle from this.
    A man died and went to heaven. As he stood in front of St. Peter at the Pearly Gates, he saw a huge wall of clocks behind him.

    He asked, ‘What are all those clocks?’

    St. Peter answered, ‘Those are Lie-Clocks.
    Everyone on Earth has a Lie-Clock.

    Every time you lie the hands on your clock will move.’

    ‘Oh,’ said the man, ‘whose clock is that?’

    ‘That’s Mother Teresa’s. The hands have never moved, indicating that she never told a lie.’

    ‘Incredible,’ said the man. ‘And whose clock is that one?’

    St. Peter responded, ‘That’s Abraham Lincoln’s clock. The hands have moved twice, telling us that Abe told only two lies in his entire life.’

    ‘Where’s President Obama’s clock?’ asked the man.

    Obama’s clock is in Jesus’ office.
    He’s using it as a ceiling fan.

  • Deborah

    HE IS SUCH A FRIGGIN LIAR!
    The day after he did his closed door deal with BP, which he promised we’d not be paying for the BP spill, taxes were passed that taxed us on future oil spills fund AND future bank bailouts fund.
    Do you think he has a memory problem? He certainly can’t remember all his LIES!

  • James Corbin

    Speaking of corruption…..What is this party taking us to (I’m a democrat ) Things are out of hand. If Cap and Trade Passes—This will mean small business will go out—they can’t keep up with all the taxes, besides if we become globel this means all the richer countries will help the poor ones. This is scary because it is working to one world government. Laugh is you want but it is coming!!!
    Obama is taking us there!!!!!

  • Deborah

    I’m wondering if any of you remember, the day after he settled with BP, the announcement about the enact of the Future Bank Bailout Fund AND the Future Oil Spill Fund creation?

    He lies. He lies. He lies.

  • http://www.connotea.org/article/16c1733a34ebedbb4298b1271c598126 Owen Hambric

    The May Mortgage Report just announced that there’s a massive number of new foreclosures in the pipeline, building up way faster than they are being removed by foreclosure sales. Is there any way this won’t result in the mortgage market falling off a cliff?

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