Free Market is not a license to steal!


Death Panels waiting to deploy – again – on behalf of the Republican Party

President Obama traveled to New York City today, where he pointedly told members of the city’s financial industry to stop fighting reasonable industry reform.

“We will not always see eye to eye,” Mr. Obama said to members of the banking industry in his speech at New York’s Cooper Union, not far from Wall Street. “We will not always agree. But that does not mean we have to choose between two extremes.”

“We do not have to choose between markets that are unfettered by even modest protections against crisis, or markets that are stymied by onerous rules that suppress enterprise and innovation,” he continued. “That’s a false choice…”

But he also lamented that some on Wall Street “forgot that behind every dollar traded or leveraged, there is family looking to buy a house, and pay for an education, open a business, save for retirement.”

“A free market, he said, “was never meant to be a free license to take whatever you can get, however you can get it…”

The president targeted Republicans, among them Senate GOP leader Mitch McConnell, who have suggested the legislation is actually going to encourage future taxpayer bailouts of Wall Street.

“That may make for a good sound bite, but it’s not factually accurate. It is not true,” he said, to applause. He said the system as it stands is what led to bailouts.

“A vote for reform is a vote to put a stop to taxpayer-funded bailouts,” he said. “That’s the truth. End of story. And nobody should be fooled in this debate.”

I hope American voters take the time to examine the facts of what is proposed instead of relying on the Party of No to tell them what to believe.

Being gullible enough to believe in Death Panels ain’t going to solve your fears about Wall Street.

Thanks, Cinaedh, for the pic

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