"Clown Prince" obama's Weekly Blather; July 23rd

Remarks of President Barack Obama and Senator Elizabeth Warren as Prepared for Delivery

Weekly Address
The White House
July 23, 2016

"CLOWN PRINCE": Hi, everybody. I’m here with Senator Elizabeth Warren, one of our strongest advocates for families and consumers like you. Today, we want to talk about some of the actions we’ve taken to protect everything you’ve worked so hard to build.  Eight years ago, after some big banks made irresponsible and risky bets with your money, we almost slipped into another Great Depression. While the recklessness started on Wall Street, it didn’t take long before it led to real pain for folks on Main Street. It would cost millions of our fellow Americans their jobs, homes, and savings.

[You peons know senator warren as "Fauxcy" or "Fauxcahontas."  'Fauxcy' gamed the system much as I did, early on in my education.  I~as most well know~falsely claimed to be a 'foreign student' {surely you remember all the controversy over "Barry Soetoro"} to take advantage of the~reverse-racist~academic quota system as well as FREE or greatly reduced tuition.  Fauxcy gained the same result by also falsely claiming that she is~somewhere between 1/32nd and 1/156th~Cherokee whose family~so she says~was actually involved in the "Trail-of-Tears."  Funny thing, tho'... her primary "claim-to-fame" is the plagiarizing of a cookbook, "Pow-Wow-Chow."    

"FAUXCAHONTAS":  The financial crisis wasn’t an unstoppable act of nature. The whole thing could have been avoided, but we didn’t have the rules in place to stop Wall Street from taking enormous risks that threatened the economy. We didn’t have strong protections to keep consumers from being cheated by tricks and traps on financial contracts.                                                                                                                                             "CLOWN PRINCE": So when I took office in the darkest days of the crisis, I promised you we wouldn’t just recover from crisis – we’d rebuild our economy on a new foundation to make sure a crisis like that never happens again.                                                                       "FAUXCAHONTAS": President Obama delivered. He signed into law the toughest Wall Street reforms and strongest consumer protections in generations. Trust me – I’m a pretty tough grader. These new rules are making our financial system more transparent, getting rid of a lot of fine print, and making sure that if a bank screws up, you have someone to call so you don’t get stuck with the bill.                                                                                             "CLOWN PRINCE": These reforms have already made our financial system safer and more resilient. And part of passing those strong consumer protections meant establishing the first-ever Consumer Financial Protection Bureau, based on an idea that Senator Warren came up with before the crisis even began.       

[Yup... you can BLAME 'FAUXCY' for most of the financial bullshit you've had to put up with for the duration of my regime; she headed up the first~and HOPEFULLY, LAST~Consumer Financial Protection Bureau.  Both 'FAUXCY' and I were early~and are continuing~supporters of the Dodd-Frank bill. This legislation did as much to destroy America's "middle-class" as any in the Twentieth and Twenty-First Centuries!! Some comments:

• ...it has been brutal on smaller community banks and made mortgage lending more cumbersome for qualified middle-class homebuyers.
• ...the number of community banks has fallen by 40 percent since 1994 and their share of banking assets plunged by more than half, from 41 percent to 18 percent. Where did those assets go? To the banking giants, of course.
• ...The report from the Harvard Kennedy School of Government said the biggest banks saw an asset share rise from 18 percent to 46 percent. Since the second quarter of 2010 when Dodd-Frank was passed, community banks have lost market share at a rate double what they did between the second fiscal quarter of 2006 and the corresponding quarter of 2010.]

 "FAUXCAHONTAS": Every day, the good people at that independent agency crack down on dishonest and deceptive practices like the ones that helped cause the crash. The proof is in the more than 27 million consumers who in just five years have gotten refunds and other relief from credit card companies, payday lenders, debt collectors, and others that tried to rip them off.                                                                                                                     "CLOWN PRINCE": Before the Consumer Financial Protection Bureau, you didn’t have a strong ally to turn to if your bank took advantage of you, or you were being harassed or charged inappropriate fees. Now you do.                                                                                       "FAUXCAHONTAS": The Bureau is also there to help you make better-informed decisions. Before you take out a mortgage, or a loan for college or a new car, check out the agency’s website – CFPB.gov. It can help you sift through the confusing but important details.                                                                                                                                       "CLOWN PRINCE": Republicans and big banks who opposed these commonsense rules claimed they’d hurt the economy. But we’ve seen what happened to the economy when we didn’t have these rules. And despite their claims, our economy is stronger today than it was before the crisis. Since we dug out from the worst of it, our businesses have added almost 15 million new jobs. Corporate profits are up, lending to businesses is up, and the stock market has hit an all-time high. So the idea this was bad for business just doesn’t hold water. Now our task should be making sure we build on those gains, and make sure they’re felt by everybody.                                                                                                   "FAUXCAHONTAS": But every year, like clockwork, big banks and their Republican allies in Congress try to roll back these protections and undermine the consumer watchdog, whose only job is to look out for you. Their nominee for President promises to dismantle all of it. They may have forgotten about the crisis, but working families sure haven’t. We haven’t either. And that’s why we’re not going to let them give Wall Street the ability to threaten our economy all over again.                                                              "CLOWN PRINCE": Whether you’re a Democrat, a Republican, or an independent, if you’re a hardworking American who plays by the rules, you should expect Wall Street to play by the rules, too. That’s what we’re fighting for.  

[Freddie Mac and Fannie Mae~two 'Government Sponsored Entities~are two programs ardently supported by the government socialists, communists.  These two programs~as bailed out by my regime, with 'Jarrett approval'~did more to destroy the American economy than all the other programs we tried!  Both of these 'GSE's' all but eliminated background analysis and credit worthiness checks on perspective home buyers.  This 'back-door good deal' for the banking industry provided a secondary market for those mortgages everyone knew would never be paid back.  The GSEs bought the essentially worthless mortgages and when they failed, made no attempt to collect or to go back to the originators for recompense!!  Said 'repayment' came from you~the few 'schlubs' who still pay taxes~as well as my regime's almost continual bailouts!!]

"FAUXCAHONTAS": It’s about basic fairness for everyone.                                                   "CLOWN PRINCE": And it’s about responsibility from everyone. Thanks to leaders like "FAUXCY", our country, our economy, and our families are better off. Let’s keep it that way.   Thanks for being here, "FAUXCY".                                                                      "FAUXCAHONTAS": Thanks for having me, "CLOWNIE". 

[A post script:  If you folks play "the idiot" and elect this Clinton-Kaine team as your next RULERS, you'll certainly get the social-communist government you've elected!  Do you think~with your vote~all the lies, obfuscations, downright crooked dealings will stop?  OF COURSE NOT.  As an additional bonus, you'll get "Slick-Willie" Clinton as the 'Rapist-in-Chief;' as the 'Official Intern-Screener' for the White House staff!  Is that what you really want; what you may have really elected?  The upcoming election very well WILL be the most crucial in all of America's~long, but fragile~life...

PERFORM WISELY!!] 

Reference "Lie-Barry:"

http://www.theblaze.com/stories/2012/05/16/fauxcahontas-plot-thickens-fordham-law-review-named-elizabeth-warren-first-woman-of-color/

https://www.washingtonpost.com/opinions/elizabeth-warrens-identity-politics/2012/05/23/gJQAt53clU_story.html
http://twitchy.com/loriz-3139/2012/05/15/fauxcahontas-warren-heralded-as-harvards-first-woman-of-color-hilarity-ensues/
http://www.newsoxy.com/business/2008-financial-crisis-30178.html
http://www.business.rutgers.edu/business-insights/too-small-survive-possible-consequences-dodd-frank-act
http://www.cato.org/publications/commentary/obama-stumbled-wall-street
http://fas.org/sgp/crs/misc/R40173.pdf
http://examiner-enterprise.com/opinion/editorials/dodd-frank-damage-done-and-it-may-be-irreversible
[pdf on Freddie Mac; Fannie Mae]
http://poseidon01.ssrn.com/delivery.php?ID=944003031017120111074010091092100099000056068039003000127072103072070122091007089118102007096001105013006093077116115025093094013019005026020120073004094019101089068076017096025109115007030016117002029066016083120089031096098105028109087107074089110&EXT=pdf