Truth from the Strangest Places

Sometimes truth is produced from the strangest sources. Speaking on the Piers Morgan show on CNN, leftist film maker Michael Moore has this to say: "The Washington Post three weeks ago had this investigation and they said that President Obama has now raised more money from Wall Street and the banks for this election cycle than all -- than all eight Republicans combined." Moore went on to say, "Wall Street already has their man and his name is Barack Obama."

So there is the truth. The really big banks on Wall Street are backing Obama. Why is that? Certainly it is not because Obama wants to raise taxes on these guys. No, it is because Obama has managed in his three years in office to take no steps that would reduce the ability of Wall Street mega banks to take huge risks that could sink the economy. Obama has done nothing to break up the banks so that they would no longer be too big to fail. Indeed, the Dodd-Frank bill which was passed by Obama and the Obamacrats instutionalizes the doctrine of too big to fail. Dodd Frank puts disproportionate burdens on smaller competitors so that the Wall Street giants no longer have to worry about smaller competitors. Too big to fail has been changed by Obama to big enough that they are guaranteed to succeed.