Cristy Li

The U.S. is destined is endure a new economic crisis that sticks taxpayers with the bill unless Congress tightens oversight of the financial industry Barack Obama said yesterday.

“The Anointed One” arrives just in the nick of time? What would happen if Obama was not there, inventing a crisis in order to create new federal regulations.

On Friday, the government alleged that Goldman-Sachs committed Securities Fraud by lying to investors about who really was behind junk mortgages.

Barclays Banking Analyst Roger Freeman, accused the SEC effort as “well timed” targeting of Goldman-Sachs offering the White House publicity and perhaps “not coincidental” to Obama’s financial reform effort.

Ironically, President Obama and Senate Finance Committee Chairman Christopher Dodd, D-CT are pushing a bill that would reward companies like Goldman-Sachs with billions of taxpayer dollars by instituting resolution authority which will give Wall Street giants a “too big to fail” status, insulating them from competition and protecting them against losses, over Main Street, USA

More here Via The Washington Examiner