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Friday, September 16, 2011

Scary: Obama Wanted to Dissolve Big Banks

In a book from Ron Suskind to be released next week, Obama apparently ordered Geithner to "reconstruct" big banks including Citigroup. He wanted the bank(s) dissolved. Geithner ignored the order.

The shockingly scary thing is that a guy with absolutely no business experience, no knowledge of how banks or the economy works and no comprehension of how the private business world works could actually be in a position where he might order the closure of the biggest banks in the financial world. Think about it - do you really want Obama to decide which banks he thinks are safe and which are not? Further, do you really want to trust him not to play cronies favors? I think we've already learned the answer to that...