Wednesday, April 21, 2010

Morning Bell: The Crony Capitalist Threat to Our Economic Freedom | The Foundry: Conservative Policy News.

Time to start sending the emails and making the phone calls to Senate Republicans on this phony financial "reform" bill. As the Heritage Foundation points out, the Democrats are hardly the enemy of Big Banking:

As evidence and logic clearly demonstrate, the left’s harsh anti-business rhetoric and glee for expansive regulation is a boon to their campaign coffers. As USA Today reports, Goldman Sachs alone has given nearly $900,000 since January 2009 to congressional candidates, and according to the non-partisan Center for Responsive Politics, 69% of the firm’s contributions went to Democrats while 31% went to Republicans.

In fact, Goldman is not opposed to Obama’s Wall Street Bailout Bill at all. As a Goldman official told Politico Monday: “We’re not against regulation. We’re for regulation. We partner with regulators.” This echoes reporting done by The Huffington Post on loopholes in the banking bill. HuffPo was told by a financial services lobbyist: “Obtaining a carve-out isn’t rocket science. Just give Chairman Dodd (D-CT) and Chuck Schumer (D-NY) a ****load of money.” And loads of money is what Wall Street has been giving to the authors of the Wall Street Bailout Bill. The Wall Street banker at the center of Goldman’s SEC fraud complaint recently solicited
money from his banker friends for Sen. Schumer
describing him as “one of the few members of Congress that has consistently supported the hedge fund industry.”

Sens. Dodd and Schumer are not the only ones colluding with bankers to profit from American taxpayers. Majority Leader Harry Reid (D-NV) scored $37,000 from a January fundraiser that included Goldman executives. And The Washington Examiner has detailed that not only did President Barack Obama receive seven times as much money from Goldman employees as President Bush did from Enron employees, but then-candidate Obama’s $950,000 2008 total from Goldman executives and employees is the most a politician has raised from a single company since campaign finance reform. It’s also more than the combined Goldman haul of every Republican running for president, Senate and the House

The corruption and dishonesty of President Barry Vladimir Hussein Soetero Obama and the Kremlin on the Potomac knows no bounds. Read more about Democrat "crony capitalism" at
Morning Bell: The Crony Capitalist Threat to Our Economic Freedom The Foundry: Conservative Policy News.

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