The new and proposed regulations will remove every competitive advantage of the community bank, and make every bank identical, forced to operate exactly as does Bank of America,” he explained. “Then, absent competitive opportunity, all of the independent banks will be greatly de-valued and handicapped. They’ll be vulnerable and easily rolled up into the handful of remaining giants … the small bank’s wealth made into fresh food for the insatiable hunger of the big banks’ deficits and losses. This is, I and others believe, the next step in Obama’s plan to take total control of the financial system and money supply, a requirement of dictatorship. |
"The light of the body is the eye: if therefore thine eye be single, thy whole body shall be full of light." --Jesus
"Sometimes the first duty of intelligent men is the restatement of the obvious" --George Orwell
"The test of a first-rate intelligence is the ability to hold two opposed ideas in the mind at the same time, and still retain the ability to function." --F. Scott Fitzgerald