Thursday, October 25, 2012

Obama - "These Financial Institutions Are in to Make Money And That’s Why we Need Some Smart Regulations"

Since when did the profit motive in and of itself become evil or the enemy?

Video embedded below.

"Firstly, the president has yet to sufficiently explain why a large, entrenched bureaucracy seeking political gain through fiat is somehow nobler than a private, productive business seeking monetary profit by meeting consumers’ choices. As Ammon Simon writes for Forbes, Dodd-Frank is the very definition of tyranny. Secondly, Mitt Romney and Paul Ryan are not financial anarchists, but yes, they do want to roll back these new economy-damaging, job-killing, small-bank-sinking regulations still being written that are protecting large institutions “too big to fail” status rather than mitigating it."

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