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Friday, December 9, 2011

Obama should be saying... we subsidize Wall Street to create employee-less corporations that buy and install Chinese solar panels in the U.S.

Obama's sham is to cripple the US refining by stopping the Keystone pipeline from Canada. This can force Canada to move to pipeline to the Pacific Coast for Chinese access. This will further stave the US of petroleum employment, exports and recovery. His apparent goal is to make us just another cog amongst the other cogs in the poorly running gear nations. Let us hope it is not even more sinister.

"Just last week, the U.S. International Trade Commission found the Chinese solar industry guilty of "dumping" solar panels in the U.S."

Subsidizing Wall Street to Buy Chinese Solar Panels

http://online.wsj.com/opinion
DECEMBER 8, 2011 By T.J. RODGERS

At the end of the recently released film "Margin Call," the chairman of the fictional investment bank that triggered the mortgage-backed securities meltdown sits in his executive dining room, looking down on the Hudson River sunset while enjoying a steak and an expensive bottle of Bordeaux. Why not? He has just saved billions for his shareholders by dumping the firm's entire "toxic loan" portfolio in one hectic trading day. Just before giving a bonus to the brilliant analyst who foresaw the meltdown only hours in advance, the chairman predicts, "There's going to be a lot of money made coming out of this mess."

Wall Street understands how to make money, up-market or down. "Margin Call" may fuel Occupy movement ire, but in creating mortgage-backed securities, Wall Street did nothing other than facilitate home-financing access to the next tier of less-qualified home buyers, as demanded by every president since Bill Clinton. After that, the bankers did exactly what their shareholders wanted: bundle those risky loans into securities, sell them to lock in the profits, and dump the risk right back onto the federal government—where it belonged.

- please read on at the link-

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