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"Listen To My Words," Says The Man With Nothing To Say

September 14, 2009 (LPAC)--"I want everybody here to hear my words: We will not go back to the days of reckless behavior and unchecked excess that was at the heart of this crisis," President Barack Obama thundered on Wall Street today, even while his administration is doing everything it can to bring that very system back to life. The President's speech was nothing but empty posturing. "The storms of the past two years are beginning to break," he claimed. "The old ways that led to this crisis cannot stand," he insisted. It's all spin, empty oratory. Lies.

The bailout of which Mr. Obama is so proud, was carried out against the express wishes of the American people. It represents the greatest theft of public money in history--not only has it been a grave injustice, but it has also been an abysmal failure. Far from being back from the brink, we are ever closer to the edge of the abyss, our economy reeling from job losses, budget deficits, production cuts, the collapse of trade--the list of disasters is seemingly endless. Yet Mr. Obama goes to Wall Street, to tell us that not only has the bailout worked, but that it is turning a profit. "We're finally beginning to see money flowing back into taxpayers... taxpayers have actually earned a 17 percent return on their investment." Does he actually expect us to believe such preposterous lies?

Much of Obama's speech revolved around financial reform, yet the measures he proposes will actually strengthen the control of the global financier oligarchy over the United States. The dark heart of his proposals revolve around giving the Federal Reserve more power to control the U.S. economy, when it was the Fed under Greenspan that used its power to build up the biggest debt bubble the world had ever seen, and the Fed under Bernanke that moved quickly to save the bankers from the consequences of their follies, when that debt bubble inevitably burst. Putting the fox in charge of the henhouse doesn't even begin to describe the magnitude of this abomination. Obama talks about raising capital standards, even while his administration actively protects banks which fail to meet the existing standards, and talks about forcing Wall Street to act more responsibly when he himself has abdicated his responsibility to the American people. His speech was a farce, an insult to the ideas upon which this Nation was founded. Empty words from an empty head.

johnhoefle@larouchepub.com


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