Last night, the United States Senate put a crimp in Obama’s plans to radically change America’s economy by voting 57-41 to block cloture on his new Financial Reform Bill. This blocks the bill from moving on to debate. Of course, the petulant President issued a statement filled with his usual gracious bi-partisian words of reconciliation (Yeah, right.).
I am deeply disappointed that Senate Republicans voted in a block against allowing a public debate on Wall Street reform to begin (I thought I had bought them off.). Some of these Senators may believe that this obstruction is a good political strategy( Hey, it worked for the Democrats during Bush’s last term.), and others may see delay as an opportunity to take this debate behind closed doors (like Healthcare Reform?), where financial industry lobbyists can water down reform or kill it altogether (or maybe Goldman Sachs will just donate another $955,473 to your next campaign.). But the American people can’t afford that (We can’t afford you, Scooter.). A lack of consumer protections and a lack of accountability on Wall Street nearly brought our economy to its knees, and helped cause the pain that has left millions of Americans without jobs and without homes ( We thought it was the corruption of a Democratic Congress and your Socialist plans.). The reform that both parties have been working on for a year would prevent a crisis like this from happening again, and I urge the Senate to get back to work and put the interests of the country ahead of party (I’ve got a mighty nation to bring to its’ knees.)
(Hold on to something. You might fall off the chair in a fit of laughter.) Sen. Olympia Snowe, RINO extrordinaire, opined the following:
“It wasn’t necessary to have a vote today. Discussions are going along in good faith,” said Sen. Olympia Snowe, a Maine Republican who the White House had hoped might defect from the GOP to help Reid push the bill through to the debate phase.
“There are some concerns about the legislation, and we want to make sure they are addressed,” Snowe said after the vote.
She offered a simple reason for why the White House and Reid pushed to move forward Monday: “It’s politics trumping policy.”
Translation: Quit pushing, Scooter. A lot of us are trying to get re-elected and we need those campaign contributions from Wall Street to keep on coming.
On top of this, one of Obama’s biggest supporters, Financial Guru Warren Buffet, opposes the plans for Financial Reform because of how it will affect derivatives. (What in the world are derivatives?)
According to wsj.com:
Derivatives are bets between two parties on the future price of a good, such as oil or mortgages. They are typically used by companies to manage risks; airlines use derivatives to lock in future fuel prices. In addition, investors trade them for profit.
So, how is Scooter going to push back against this pushback? Well, today he is having one of his pre-scripted (and invitation-only) Wall Street to Main Street (two locations he knows nothing about) campaign rallies, err, speeches, where he will try to justify his attempt to take over America’s economy.
But, don’t worry, America. That’s not all The Magnificent One is doing to help those in Economic distress. The Administration is in the middle of hosting a Summit to aid entrepreneurs. From SkyNews:
US President Barack Obama laid a key plank of his strategy to mend ties with the Islamic world by hosting a summit to boost economic development in Muslim nations.
In a step the White House hopes will help shift relations beyond decades of talk about terrorism and conflict, Obama brought entrepreneurs from 50 countries to Washington for two days to spur economic ties.
The president pledged to host the meeting in a landmark speech in Cairo last June, when he also called for a ‘new beginning’ to relations between the United States and the Muslim world.
After all, a man’s got to have his priorities.
Sources: whitehouse.gov, dailycaller.com, wsj.com, skynews.com.au
Kingsjester's Blog 
FIRST!!!
Another great one KJ
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Sell out Israel, while promoting capitalism in Muslim nations and killing it in the USA. What a peach!!
Love the pic, KJ. It is perfect!
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Like the oil-rich countries need our help in economic developement! One of your best, KJ!!!
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I’ll give my two cents once I stop beating my head on the desk.
Okay, here goes…
This guy reminds me of someone who panics over a small spark popping out of the campfire. You know the kind of guy who screams fire and throws his whiskey on it and proclaim, “well, I had to do SOMETHING” while the forest burns down around everyone.
Keep the blog coming, KJ.
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Well, as expected under the “leadership” of McConnell, the Republicans CAVED to the dems and will allow another power grab to move forward. Why? Because the headlines made up look bad…
Here’s to hoping that DeMint is the new Majority Leader come January 2011…
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