April 21, 2010
Audio - Fred Says: Flim-Flam Artistry
Fred's got a different name for Obama's financial reform bill [full audio clip here (running time 1:29)]:
I don't know how to describe this. Greatest flim-flam artistry that I have seen in a long, long time. I keep saying that, but they keep exceeding expectations in flim-flammery in this town. You have a financial reform bill, the President wants to cram this through, says he wants to get tough on Wall Street. Which is an absolute fraud and farce. The bill does NOT get tough on Wall Street. It's like jiu-jitsu, you use your enemy's strength to your advantage and his disadvantage.
They're claiming that the Republicans are trying to protect Wall Street, and they're really wanting to get tough on Wall Street. Why is it that Wall Street is FOR this thing? I mean, they're FOR what the President is trying to do, at the same time that they're showering the Democrats with money, and always have. They institutionalize "too big to fail", they give bureaucrats the authority for these companies to live or die - and I say companies loosely, because that's what it is, it's not just banks, it's any kind of a financial institution, it's anything related - and anyway it covers all manner of things. It gives them authority to regulate lending practices in this country. It sets up a whole new bureaucracy within the Federal Reserve System, for some reason, to do that.
So, they're trying to cram this down, they're trying to get another notch in their belt. They're trying to achieve another victory. They're trying to - while they're demonizing the Tea Partiers - they're trying to placate the Tea Partiers and the rest of America - who they hope doesn't pay much attention - by passing this financial reform bill.
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