President Obama proposed stricter limits on risk taking by Banks on Thursday January 21, 2010. Lehman Brothers collapsed September 14th 2008 precipitating the worst financial period in memory.
It should not escape us how much human misery has been propagated in that period, or the money that has been borrowed from us, the people, and our children, to enable banks to recover their money while profiting from us.
Only now, a year and four months later, is the President announcing a proposed change to limit the banking industry’s rapine behavior. This feeble effort lacks vigor, sincerity or timeliness and smells of a cozy political collusion with a system designed to assist powerful industries in enslaving us.
If the President is representing American people, and not America Inc., he needs to see that corporations have become so powerful they can destroy governments and that is exactly why there are anti trust laws. Clearly those laws are weakly implemented and out of date, so we suffer domination by huge companies in many industries. Three staples are food, energy, and finance and all three affect all of us.
We should not be held hostage by companies considered too big to fail or Corporate interests which reduce our freedom.
It is time to get uncomfortable, Mr. President, and follow your own slogan “change we can believe in”.