WASHINGTON (AP) -- President Barack Obama is ready to roll out an overhaul of the intricate rules and systems that govern America's troubled financial institutions, proposing the most ambitious revision since the Great Depression of the 1930s.
The goal is to prevent a recurrence of the economic crisis that erupted in the United States and exploded last fall with devastating consequences still reverberating around the world.
Unlike the government's temporary ownership stake in automakers and major financial companies, the regulatory changes set to be announced Wednesday are designed to be permanent. They could result in a major realignment of power and authority among government agencies that set the rules for banking, lending and investing and touch American lives through daily transactions, from credit cards to mortgages and mutual funds.
What I've always got my eye out for is changes that will shut down my access to Forex. Retail Forex trading, what I do, is set up in such a way that you cannot lose more than your money on deposit with you broker. You can use that "evil" leverage stuff these clowns keep barking about, tons of it in fact, but the fact remains that you cannot lose more than you put in. I have a bad feeling that this fact will be ignored/tossed down the memory hole if the attention of Emperor Obama's minions ever turn this way.
So my concern is over what I like to call "raising the drawbridge." What that means is that people like Obama, the tax cheat Tim Geithner, Speaker of the House Nancy Pelosi et al., they have all used the capitalist system that has existed up until now to make their fortunes. What they then do is get into positions of power and deny that same system to those of us who have not made ours yet, they raise the drawbridge so that we cannot cross the moat from where we are now over to prosperity. They do it while telling you that it's for your safety, protection, etc., but the truth of the matter is that they do it to keep you in your place.
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