Our President will be calling for banking reforms ten days prior to the G-20 summit.  The article states the following:

Speaking just 10 days before the start of the G20 summit in Pittsburgh – at which world leaders are set to discuss curtailing bankers' bonuses among a raft of potentially restrictive reforms – he will also put the amount of capital banks hold on their balance sheets back at the top of the agenda

Larry Summers, top economic aid to the President, is quoted in the article that the reforms to be proposed will include the need to regulate institutions which have become so large that their collapse might threaten systemic stability.  So much for capitalism.

Please remember, Mr. Summers recently informed us that the greatest indicator that the economy is turning around - because fewer people are doing Google searches on "economic depression."  And this gentlemen is helping to develop our economic policy - nice.

And not to mention, it appears the President will call for these reforms on a world wide level.  Why would the world listen to a President on banking reforms, who is sinking a nation into deeper and deeper debt?  And whatever happened to "not having the arrogance to think that the United States can tell the rest of the world what to do" mentality?  Another contradiction from this Administration.  I guess that mentality only applies to - foreign policy, protecting the nation, or national defence.

These kind of ideas only lead the United States down the path - to more foreign say in the leadership of our national financial institutions, regulation that kills capitalism, and simply sinking us deeper into a world economic collapse.  And this Administration seems to consistently fuel one question:  Why continue to even make a living?

Oh that is right - to pay the taxes.

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Tonight, in his last ditch pitch for health care "reform", the President is going to tell us that his administration - rescued the economy.  This comes straight from the mouth of Chief-of-Staff, the ever entertaining,  Rham Emanuel.

Emanuel told the New York Times that the President would use tonight (yet another press conference) to give a six month report card on "how we rescued the economy from the worst recession."

If this is rescue, what is drowning?

A quick review of the current economic situation shows unemployment way above all predictions with no signs of slowing down, our federal government spending money on borrowed time, and states officially declaring themselves - bankrupt.  What else about this economy? Inflation will soon be doubling, taxes on small business are set to increase, and we are cutting the amount given back on tax returns for a charitable donation meaning that in the next year - those who help our society - will be helpless.

And this is what Rham calls rescue?

Here is the link to the full story:

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