Friday, July 31, 2015

OBAMA AND HIS CRONY CRIMINAL LOOTING BANKSTERS - The Dodd-Frank banking law five years on

The Dodd-Frank banking law five years on

Five years on, the law, largely a token measure to begin with, has, under pressure from financial industry lobbyists and Obama himself, been watered down further in the so-called “rulemaking” process to the point of near irrelevancy. To this day, only 247 of the act’s 390 rules have been finalized. Key provisions, such as the so-called “Volcker rule,” have only just gone into effect—allowing ample time for lobbyists to bribe regulators and congressmen to remove any serious restrictions on banks and hedge funds.


The 2008 crash and subsequent developments have revealed certain fundamental realities about American society. All of the official institutions, including the presidency, the courts, Congress and the financial regulators, have worked single-mindedly to shield the banks and the financial elite and enable them to grow even richer.

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