Friday, September 2, 2011
Stirring the Tempest
America's leftist provocateurs led by Stephen Lerner plan a "US Day of Rage" against Wall Street on September 17. This attack on our capitalist underpinnings will come just as government-sponsored enterprises Fannie Mae and Freddie Mac sue the nation's largest banks as they try to mount a recovery, including Bank of America which has just been bolstered by Warren Buffett's recent acquisition thought by some to have been at least partially at the behest of Barack Obama with whom Buffett met shortly before his purchase of a major position in Bank of America. The American Left certainly has our financial sector in the crosshairs, and it seems that the Obama administration itself is working at cross-purposes with parts trying to preserve banks and insurers and other parts suing or regulating them into oblivion. The foot soldiers though that are Obama's strongest backers clearly have no reservations about taking down Wall Street without any consideration about what their street action will mean for the rest of the country. While I recognize and have here chronicled the shortcomings of our fiscal house, I am concerned about the political machinations and the coming protests and fear the United States could soon find herself in the same sinking boat as Greece.