Intelligent politics for savvy people: Common sense view of world politics and news. Roundup of best stories. News analysis and news opinion unfettered by media mogul ownership or agendas - and some funny political humor. - Denny Lyon
From Denny: I have to admit I really enjoyed witnessing the President spank these odious bankers on their greedy snouts. :) The hope is that Congress is serious about tightening the noose on the financial system in America - and soon. The word is there is legislation in the making. The question is just how far it will go. The last legislation passed was weak in regard to taming the banks and the credit card system. Well, that runs out in February. Hopefully, so does their ability to abuse their customers.
Here Obama slams bankers for getting taxpayer bailouts and yet not paying it forward by giving loans to the small businesses and taxpayers to get the economy going again:
From Denny: For years now Big Business has been the 800 pound gorilla on the shoulders of the American middle class, trouncing the economy into tatters. Now it's government's turn to turn the tables and jump on the backs of Big Business, taking them to the woodshed for a good thrashing.
The House has created a new consumer agency to oversee the banking sector and gives new powers to the government to break up big companies that threaten the health of the economy.
With the federal government hiring it does help bring down the jobless rate by a few tenths of a percentage. Well, at least it's going in the right direction. Just a few months ago, we were bleeding 700,000 jobs lost a month when Obama came into office. By November that number had dropped down to 11,000 jobs lost. Of course, it does make you wonder if there are any jobs left to lose in America.
As to so-called American companies taxing tax breaks and then not hiring Americans, hiring overseas, and then returning products to be sold here at a high rate, well, these guys need a rude awakening. Time to start taxing American companies who refuse to hire 80% of their work force in America. It's either that or we start treating them like a foreign country, for all intents and purposes, and put tariffs on their goods sold in America.
