Thursday, June 18, 2009
Hedge Funds’ ‘Dangerous Opponent’ Rasmussen Pushes EU Crackdown
The U.S. is falling behind "Socialist" Europe in every area. Europe is not only performing better than the U.S. when it comes to unemployment and output, but it is taking the lead in reigning in speculation by launching a crackdown on hedge funds and other unregulated investment vehicles.
We elect the most liberal president ever in our history and what does he do? He puts Wall Streeters up and down throughout his Administration and bends over backwards to sustain a financial system, which in its current form, nearly destroyed our economy.
Then he forces GM and Chrysler into bankruptcy, carelessly eliminating a significant amount of America's industrial capacity and its ability to produce the real assets our society needs. This brilliant strategy, brought to you by an inapplicable belief ("taxpayers on the hook"), ends up costing tens of thousands of workers their jobs.
All from a Democrat that promised to "help the working class and create jobs."
It's almost incomprehensible!
And now, for his piece de resistance...he seeks to curtail the Fed's emergency lending powers--powers that kept us from going into a full blown depresssion and what keeps the Fed out of the political realm--but he will allow hedge funds and speculation to go on, unabated.
This is the most convoluted, irrational, set of policies EVER in the history of this country and it is dangerous beyond imagination. Deadly for us and our standard of living.