In case there are any of you that still think that the permanent economic depression is accidental, or coincidental, or even still swallow the nonsense that somehow President Bush43 is responsible for it almost six years after leaving office, buy the fallacy that using the Fed to pump up huge Wall Street asset bubbles that will inevitably burst sooner or later somehow mitigates Barack Obama's virulent anti-business hostility, try these emails on for size:
Released today by the House Oversight and Government Reform Committee, the twenty-page investigative report details how the FDIC worked closely with the Justice Department to implement Operation Choke Point, a secretive program that seeks to cut off the financial lifeblood of payday lenders and other industries the administration doesn’t like.
The FDIC is the primary agency responsible for regulating and auditing more than 4,500 U.S. banks.
Emails unearthed by investigators show regulatory officials scheming to influence banks’ decisions on who to do business with by labeling certain industries “reputational risks,” ensuring banks “get the message” about the businesses the regulators don’t like, and pressuring banks to cut credit or close those accounts, effectively driving enterprises out of business.
I wrote about Operation Choke Point a little over six months ago:
Guns, ammo, tobacco - pursuits the Left has tried to stamp out for decades. Now the Regime has devised a way to do so - to make huge strides towards repealing the Second Amendment - tyrannically, abusively, unconstitutionally, and quietly. And who gets to define what "racist materials" are? There are many on the Left who believe the United States Constitution and the Bible, just to name a couple of documents, reside in that fetid category. And since a black man rules this country, that definition could be made to encompass any organization that opposes any Obama Regime policy, up to and including the Republican Party itself. Could Operation Choke Point not be used to coerce evangelical churches into performing sodomarriage rituals, and hiring homosexual "pastors," and forbidding churches from teaching the Bible and preaching the Gospel on those dubious grounds? Or cutting off the RNC and GOP political campaigns? And never mind Tea Party groups not being able to register as 501(c)(4) organizations, they could be cut off from even opening checking accounts.
Leading to the logical question: Who watches the watchers? Who enforces the law against the law enforcers? And how?
Well, Congress can certainly defund the power-abusers, though they certainly don't look eager to do so these days. But there is nothing to be gained from flinching, or putting it off. Even if it is too late, if there's any chance of changing the country's direction, it's going to require a showdown, a confrontation, a constitutional crisis on all the imperial usurpations, abuses, and power grabs he's made off with already, of which the outrage known as Operation Choke Point is despicably emblematic.
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