Media Praises Obama For "Brokering a Deal" Among Dems on Hyperpartisan Financial Bill
The state-run media praised Barack Obama today after he helped broker a deal among democratic members of Congress on their financial overhaul bill. Obama said he got 90% of what he wanted in the democratic “negotiations.” This, of course, means that it’s likely another radical piece of socialist trash that will give government more power and control over your life.
From reading the AP report you would think this was a great bipartisan effort for Team Obama. It’s not until the 12th and final paragraph that you discover that NO REPUBLICANS supported the democrat’s latest radical piece of legislation.
President Barack Obama declared victory Friday after congressional negotiators reached a dawn agreement on a sweeping overhaul of rules overseeing Wall Street.
Lawmakers shook hands on the compromise legislation at 5:39 a.m. after Obama administration officials helped broker a deal that cracked the last impediment to the bill — a proposal to force banks to spin off their lucrative derivatives trading business. The legislation touches on an exhaustive range of financial transactions, from a debit card swipe at a supermarket to the most complex securities deals cut in downtown Manhattan.
Speaking to reporters as he left the White House to attend an economic summit of world leaders in Canada, the president said he was gratified by Congress’ work and said the deal included 90 percent of what he had proposed. He said the bill, forged in the aftermath of the 2008 financial meltdown, represents the toughest financial overhaul since the Great Depression.
“We’ve all seen what happens when there is inadequate oversight and insufficient transparency on Wall Street,” he said. “The reforms working their way through Congress will hold Wall Street accountable so we can help prevent another financial crisis like the one that we’re still recovering from.”
…(paragraph 12) House negotiators voted a party line 20-11 in favor of the final agreement; senators voted 7-5, also along party lines.
That’s what you call hard-hitting journalism in the Age of Obama.
The democratic bill fails to even touch Fannie Mae and Freddie Mac.