Monday, December 13, 2010

Regulators Exist To 'Serve The Banks,' Next House Finance Chairman Declares

From the RawStory

"In Washington, the view is that the banks are to be regulated, and my view is that Washington and the regulators are there to serve the banks," Bachus told The Birmingham News in an interview.

Bachus was just put in charge of the House banking committee and isn't afraid to say who he works for.  And I thought the democrats were tied to Wall St.?  They were, but how does one compete with Bachus ? He just flat out says it for the banksters, you work for us.

If we the people are the government than he is saying that we are the servants to the banksters.
Those same banksters have been gambling with our retirements, homes and lives.
They have purposely led people into risky loans when they qualified for normal 30 year loans on their homes and have bet against the workers of this country through hedge funds so that they could use our money to bet against our futures.

This isn't a stretch or just a wild observation on my part. This is what happens when most people don't vote.  I should remind you that republicans, although a minority, always vote.  I saw a bumper sticker that said " If no one votes, the white guy will win".  Statistic show that in the November 2010 election, young people didn't vote.  They will have to deal with the future that they failed to prevent.

Welcome to machine. Please do read more at the RawStory.com 

3 comments:

  1. Tom, if there is one thing I learned in my run for city council of a town with 130,000-plus and a $300,000,000 budget is that money transcends party lines like flood waters through a chainlink fence. It doesn't matter the scope of office so much as the level of budgetary power. And as an important side note: the business world (ie private sector money) favors republicans who outsource with contracts while the public sector money (ie public employee union money) favors democrats who want to hire and expand government job opportunities.

    ReplyDelete
  2. It reminds me of a couple of classmates in law school. They worked for the Public Utilities Commission. I don't remember all the details, but during a classroom discussion of some case there was a bit of an argument about why the PUC had approved every rate kike PG&E and SoCal Edison had proposed for some amount of years. They're response - "We have a good relationship with them. We are not anti-business!" They were appalled that the class thought that their role was to keep the utilities in line, which they rejected as "a cynical antagonistic view."

    She was a nice enough woman. When asked why she went to law school she responded that she wanted to "earn enough money to ski on weekends."

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  3. They may be so loud that it could make it hard to talk in the room that it's in or to watch television. It could also make it much more difficult to sleep if it is loud enough.

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