Well, what do you know? The bureaucracy wins!!!! One of the cryptocracy's key mandates to the Obama administration was to reform the regulatory world that watches the financial industry. The goal was to centralize the work of various agencies through the privately-owned Federal Reserve, which would give the world's richest families (starting with the Rothschilds) the ability to regulate themselves. This was their great dream, nirvana in fact, and they precipitated the economic crisis to create an atmosphere to accomplish this dream among others.
And the existing bureaucratic apparatus set-up by the cryptocracy becomes an obstacle to the new cryptocracy plans. Priceless!!! "The [administration's] decision is partly practical and partly political...Officials worry that trying to start [the reform process] from scratch could ignite messy turf battles that might slow or even derail the entire process." Never underestimate the staying power of an entrenched bureaucracy!!!!
"But sidestepping a major regulatory restructuring could spark criticism that the administration has missed a once-in-a-lifetime chance."
"'History shows that opportunities for real reform are short-lived,' Federal Reserve Governor Daniel Tarullo, who has close ties to the White House, said in a speech on Monday. 'Momentum can too easily be lost, and the return of better times too easily leads to complacency.'"
In other words, the Obama administration blew it, and now it is too late. The economic crisis was for naught in regard to regulatory reform.
The Obama administration tries to save face: "Rather than seeking additional consolidation, the administration's plan now appears to be focused on setting up new rules for containing risk."
There are some gains for the cryptocracy: "The Federal Reserve will likely emerge stronger, gaining power to oversee companies, financial products and industry practices that might pose systemic risk."
It must be frustrating for the owners of the world's wealth. They control so much and yet they still have to work through unreliable political operatives. Here they bought and paid for and trained Obama and gave him a unique opportunity, and still he couldn't bring home the bacon. Again: Priceless.
No comments:
Post a Comment