Dems work to push banking overhaul quickly

Dems work to push banking overhaul quickly

news.yahoo.com

WASHINGTON – President Barack Obama's plan to transform the Federal Reserve into a super-regulator ran into skepticism Thursday from lawmakers who worry that the central bank is not the best suited to keep an eye on firms deemed so big and influential that their demise could hurt the economy.

Democrats and Republicans voiced misgivings as Treasury Secretary Timothy Geithner began a marathon day of selling Obama's financial regulatory plan to give the Fed more authority, create a new consumer protection agency and bring unregulated sectors of the financial markets under government oversi

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Related thread: www.abovetopsecret.com...

[edit on 18-6-2009 by spec_ops_wannabe]

Well it appears to be happening now everyone. Obama is moving to make the Fed absolute in it's power over the rest of the monetary system in the United States.
Basically for those of you who don't get it, he's nationalizing all of the banks in the country indirectly at a glance but in fact he is simply giving control over everything to one particular corporation.

news.yahoo.com
(visit the link for the full news article)

I think it best to flag this to no end.
If we allow this to move to go through then we may very well lose what some consider to be the fight or the great struggle for American freedom.
This would make an already bloated system expand beyond proportions previously thought of.
It would make even your own small hometown banks and credit unions regulated by this in all of likeliness.
Typical on the part of the people in power to try and ram this through as quickly as possible.

Yea, they always voice skepticism then they go and pass the legislation anyway.

Its a crock is what it is. We no longer have representation just a bunch of posers that are actors representing us.

It is interesting with this as it does not look like Obama is going to be willing to sign HR 1207 if it does make it to him.
I don't think that with an audit the Fed bill is going to get passed when we have this guy trying to expand the power of the Fed. Truly alarming in my opinion since this shows Obama's hand in this matter.

Isn't it about time we knew exactly who owns the Federal Reserve Bank?
If this is allowed we will be little more than fish in a barrel.Easy targets for the money changers.
Obama is handing over the country with a pretty little bow tied on it. With a nice card saying"Here you go Federal Reserve.We are ready to get royaly screwed now."

reply to post by spec_ops_wannabe


Obama is showing his true colors.

How in the world can they consider this?

The fed can't account for trillions of dollars and everyone is falling over themselves to give them more power?

What is WRONG WITH THESE PEOPLE!?!

The dollar is worth 5 percent of what it used to be and we give them the reigns.

Everyone should be screaming at our Congressmen/women on this.

He won't sign HR 1207...this proves that.

He's not for the people...wake up damnit!

I know this has already been stated, but the government isn't going to stop unless we make them.

The only way things are going to turn around is if we make them stop. Again I will repeat the only way things are going to stop is if we make them.

I really don't know what else to tell ya, it's all just a dog and pony show.

reply to post by Hastobemoretolife

I know this has already been stated, but the government isn't going to stop unless we make them.

I know...but nothing will happen. No one will do anything until the SHTF. People need to be desperate....I guess enough aren't desperate yet.

As prices continue to go up and job losses continue to rise, the more the likelyhood of an uprising of sorts.