Thursday, December 01, 2011

Rush Limbaugh's Other-World

As I turned on Rush Limbaugh's radio program today - randomly - I was met by Limbaugh saying that liberals have been openly advocating communism for two decades now and that Barack Obama wants to be re-elected so that he can install a communist regime.

I'm not sure how to respond, as having never visited this parallel, alternate dimension Earth that Limbaugh broadcasts from, I'm not really in a position to comment.

On this Earth, however

A new report shows that despite a campaign pledge to get lobbyists out of Washington, the Obama White House has weakened regulation in favor of corporate interests more than the Bush administration. The study, "Behind Closed Doors at the White House: How Politics Trumps Protection of Public Health, Worker Safety, and the Environment,” examines more than a thousand meetings that took place over a decade between lobbyists and a little known regulatory office, then checks to see how proposed rules were weakened to accommodate industry requests. It found the Obama White House changed rules 76 percent of the time, while Bush changed them just 64 percent of the time. EPA rules were changed at a significantly higher rate — 84 percent.
And the President Obama on this Earth kept in key financial positions in his administration the men responsible for this

The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing.

The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didn’t mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy. And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates, Bloomberg Markets magazine reports in its January issue.

Saved by the bailout, bankers lobbied against government regulations, a job made easier by the Fed, which never disclosed the details of the rescue to lawmakers even as Congress doled out more money and debated new rules aimed at preventing the next collapse.

1 comment:

Sheldon said...

Yep, I heard the same show. Sometimes I can't believe how full of shit he is!