Defending the family

Obama Pays Lip-Service Against Bailouts but Bernanke's Confirmed

Obama Pays Lip-Service Against Bailouts but Bernanke's Confirmed

"And if there's one thing that has unified Democrats and Republicans, it's that we all hated the bank bailout. I hated it. You hated it. It was about as popular as a root canal," said President Obama in last week's state of the union address.

But the problem is that his statements came on the eve of the reconfirmation his fellow budget-buster, Federal Reserve Chairman Ben Bernanke.

If the president "hated" the banker bailout, then why is he marching lock-step with, Ben Bernanke, the most powerful banker-bailout artist in the United States instead of opposing him.

It took President Andrew Jackson all he had to defeat Nicholas Biddle in his effort to establish a national bank, and Jackson considered his defeat of Biddle the greatest victory of his career, even greater than the victory in which Jackson led a young America to victory at the Battle of New Orleans.

Yet today, we have a president who pays lip service against the budget-busters but who is one of them himself.

http://www.reuters.com/article/idUSN2714385620100128

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