Where were you when Lehman Brothers collapsed one year ago today? I have no idea, but according to the media and Barack Obama who travelled to New York to mark the one year anniversary, it’s a day we should remember like 9/11 or the Kennedy assassination. Obama’s real reason for going to New York was to push for another banking overhaul.

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In a speech riddled with blame Wall Street rhetoric, Obama told bankers that he essentially saved their butts and unless they knock off the reckless behavior ( I thought they were supposed to have knocked it off already) the American taxpayers “might” not be there to bail them out the next time. I’ll believe that when I see it.

Barack Obama, President of the United States couldn’t go to New York to commemorate 9/11 but he could go to mark the one year anniversary of the collapse of Lehman Brothers. Glad to see his priorities are in order. I smell some more regulation coming folks. Obama never makes a speech without some hidden agenda.

Obama, pushing for a banking overhaul said in his speech today:

“Hear my words: We will not go back to the days of reckless behavior and unchecked excess at the heart of this crisis, where too many were motivated only by the appetite for quick kills and bloated bonuses,”

Could it be that Obama truly wants more banking overhauls? Or could his trip to mark the demise of Lehman Brothers mean something else? Like perhaps trying to drum up more panic and worry over the financial system. Or at the very least, remind people of the panic we began to feel a year ago.

We all know that whenever Obama can get people panicking, that’s when he’s able to ram some of his best stuff through. Does $787 billion dollar stimulus ring a bell? Right now, nobody but ACORN and illegal immigrants are panicking about the healthcare bill, so he really needs some sort of victory. A major overhaul of banks would do the trick. Maybe even another round of “stimulus”.

The Wall Street Journal says that Barney Frank plans to push legislation through congress no matter how people feel about a banking overhaul. I suppose the banking queen feels it’s just that important.

One of President Obama’s major proposals in a banking overhaul consists of creating a new bureaucratic agency. A consumer protection agency; hey isn’t that kind of what Fannie and Freddie were?





Photos: Photos: www.wenn.com