Financial Reform....

Recently, Pres. Obama traveled to Wall Street so that he could present his "reforms" of the system currently in place.  His proposed reform package on future 'bail outs'.   As is usual, the Democrats want this set of "reforms" while predictably the GOP hates it. The Democrats is now claiming that it will prevent future bail outs, while the GOP is claiming it virtually guarantees new bail outs.


Here is a list of those largeWall Street firms who contributed significant amounts to the Obama campaign, in 2008.  While you peruse the below list, you can figure out for yourself if  M.Obama represents the average American citizen or those "too big to fail" corporations on Wall Street.  This list comes from http://www.opensecrets.org/.

Because of present limitations on contributions, organizations that bundle together many smaller individual contributions (coercively obtained from their employees or not) are often found to be among the top donors to presidential candidates. The organization may support only one candidate, or hedge their bets by donating to multiple candidates. Groups that have an established national network of donors - like EMILY's List and Club for Growth (a large Democratic Party fund raising organization)- make for particularly huge bundlers.

University of California .......$1,591,395
Goldman Sachs .....................$994,795
Harvard University................ $854,747
Microsoft Corp..................... $833,617
Google Inc ............................$803,436
Citigroup Inc .........................$701,290
JPMorgan Chase & Co .........$695,132
Time Warner .........................$590,084
Sidley Austin LLP ..................$588,598
Stanford University .................$586,557
National Amusements Inc .......$551,683
UBS AG ................................$543,219
Wilmerhale Llp....................... $542,618
Skadden, Arps et al ................$530,839
IBM Corp $528,822
Columbia University................ $528,302
Morgan Stanley ......................$514,881
General Electric ......................$499,130
US Government ......................$494,820
Latham & Watkins.................. $493,835

Surprisingly, in the financial melt down last year, many of these companies received huge federal subsidies and "loans" so that they wouldn't fail.  These numbers are very large even by the record amounts raised by Mr. Obama's machine ($750,000,000.00) in the last persidential election cycle.  I contend that if you have a pliant media, if you raise and spend that much money ANYONE could be elected president in this country.

Now the Democratic party is paying back their supporters on Wall Street by presenting "reform" which is more of a formalized "protection racket."  I don't think this Congress is  capable of actually reforming anything at this point as any "reform" will actually be a pay off to a constituency rather than real reform.