Tuesday, February 01, 2011

Obama Gives Himself Another "Waiver"...

...this time on the huge financial reform he and his party pushed through, "The Dodd–Frank Wall Street Reform and Consumer Protection Act".

You would think that a law written by two Democrats and championed by a Democratic president would be followed by the Democrats,
but noooooooooooooooooo:

The Obama administration failed to release a report today on how Freddie Mac and Fannie Mae could be reformed, despite being required to do so by the Dodd-Frank law passed last summer.

Rep. Jeb Hensarling (R., Texas), who chairs the House Republican Conference, said in a statement that the White House’s failure to meet the deadline made it “crystal clear that the President is not serious about reforming Fannie Mae and Freddie Mac.”

“The Obama Administration’s repeated inability to propose a plan to reform Fannie Mae and Freddie Mac calls into question their commitment to taxpayer protection and their ability to effectively govern on this issue,” Hensarling added. “After more than $150 billion in Fannie and Freddie bailouts, we can no longer afford to allow the Administration to kick the can down the road.”

Financial Services Committee chairman Spencer Baucus (R., Ala.) also criticized the administration, saying in a statement that “the Democrats always offer an excuse for not meeting deadlines, even those they themselves impose.”

A Treasury Department spokesman told Dow Jones Newswires that the administration hoped to release a report in February.

Crony capitalism, crony justice. If you were in the private sector and failed to provide a report required by law, you would be fired. Obama grants himself a waiver. If you fail to implement ObamaCare into your life/business, the IRS will hunt you down and make you pay. However, if you are a union and/or an administration-friendly big businesses, Obama will grant you a waiver.

Of course, we ordinary citizens do not get to ignore laws which we don't have the time or inclination to obey, as tDemocratic politicians do. Is this an example of Obama's complete disregard for our legal system, or his basic unseriousness about any piece of legislation he and his party have passed? I mean, really - you guys wrote the damn law, what excuse do you have for not obeying it? Save for the fact you simply don't want to?

But don't worry - they'll obey the law on their schedule...maybe in February, if they feel like it. Or maybe not.

We should rename this guy President Wimpy. As in "I'll gladly pay you Tuesday for a hamburger today...".

Obama is a deadbeat; he' never going to pay. Or obey. We're going to be left holding the Fannie/Freddie bag, just like we will be left holding the bill for every other outrageous scheme this administration has cooked up, laws be damned...


LibertyAtStake said...

I can tell you from personal experience to expect everything produced by Fannie to be late and thoroughly disconnected from reality. So, even if something comes out from February as they state, don't expect it to be worth the paper its printed on.

(Assigned Reading List as soon as I get home tonight)

"Because the Only Good Progressive is a Failed Progressive"

The JerseyNut said...

Thank you! Appreciate the link!