Tuesday, November 12, 2013

Gee, what a surprise....

Those who have been paying attention will already know that virtually all of Obama's key economic advisers are Wall Street insiders. And in keeping with that, Obummer has done it yet again. This afternoon, it's being reported that Obama is nominating Timothy Massad (rhymes with Mossad) to be the Chair of the Commodity Futures Trading Commission (CFTC). Naturally, Massad is a long-time Wall Street wheeler and dealer - why else would Obummer select him?

This will be yet another glaringly obvious statement about where Obummer's real loyalty lies, a clue that again will be ignored by the O-bots, who are apparently delusional and actually believe their figurehead of choice gives a damn about the American public.

As Wall Street on Parade notes, "If confirmed to head the CFTC, Massad will play a critical role in the regulation of derivatives, an area that has received heavy pushback from his former law firms’ clients. The agency is also involved in investigating major Wall Street firms for rigging the Libor interest rate benchmarks and collusion on the pricing of foreign currencies. Investigations of other potential commodity manipulations are also underway."

I'm sure Mossad - oops, I mean Massad - will be an absolute tiger when it comes to regulating his peers.  Yeah, right....

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