Monday, June 06, 2011

Frankendodd, The Massive Obomination Of Financial Reform (Corruption) Bill Is Dead

We wrote on here soon after its passing that the financial reform bill of 2010 was a sham.   It was an opportunity for Wall Street to rig the game in their favor with 2,000 pages of complexity that would disable competition and create massive barriers to competition and entry into their domain through red tape.   To no one’s surprise, our corrupt government is in the process of hollowing out whatever small modicum of good there was in the legislation in order to curry favor with lobbyist bribes. 

Our economy remains under the jack boot of financial predation enabled by a massively corrupt political system.   Obama will not be re-elected.  Since employment statistics have been collected, no sitting President has ever been re-elected with unemployment over 8%.  U6 unemployment remains at 16% and U3 unemployment remains above 9%.   Underemployment is running closer to 25-30%.

Link to frightening story here.

posted by TimingLogic at 4:05 PM