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Hillary Machine fueled by media

The two front runners in the primary campaigns could not be more different in their history and their approach. Republican Donald Trump, outspoken, irreverent, unpolished and his “this is who I am, take it or leave it” attitude is 100% of his own making and it seems he owes no one and has gathered a following from across the country and the political spectrum no one predicted.

Hillary Clinton on the other hand has been a calculating, behind the curtain, wheeler and dealer right out of The Wizard of Oz. Claiming all manner of professionalism and experience, and holding incredible power over the Democratic National Committee, she somehow forced most legitimate and seasoned Democrats to stay away “or else." The power of the Clintons since their days in Arkansas is the subject of much research, but one has to wonder how she shut up so many and paved her own road in front of her all the way to Primary Election Day.

Her only competition is a recruited socialist who never had to do much heavy lifting in Vermont, and until just recently, was largely unknown in most Democratic circles. But Bernie Sanders has caught on with students and the extreme left in spite of his lackluster history and his narrow one-trick pony platform.  But the insiders must have made some kind of deal with party hierarchy, the press and Bernie himself to make sure that the issues he raises daily get no traction and support from informed seasoned Democrats with a track record.

Bernie will repeat his class warfare clichés over and over, making the big banks the evildoers who are responsible for the deepening divide between the haves and have nots, but neither he, the media, Democratic economists, or even Republican commentators, ever really talk the talk about how it all went viral 15 years ago and who were the parties behind creating financial institutions without rules that were too big to fail and helping them get even bigger in the process. The usual Democratic tactic of blaming just about everything on President George Bush won’t work here, and they know it.

For it was Democratic President William Jefferson Clinton who had his Secretary of the Treasury, Robert Rubin create the pathway to deregulation the likes of which we have never before seen in 1999. Using millions from lobbyist Sanford Weil, who also served as Chairman of Citi Bank, they drew up and funded support for the Graham Leech Bill that in one final blow ended the New Deal supervisory oversight of Banks, Investment Houses and Insurance conglomerates. These were designed in the first place to create a competitive honest transparent environment that prevented “too big to fail” entities that in effect told the government what to do and when. Bottom line, Bill Clinton was the best friend no regulation laisse faire capitalists ever had when he quickly signed the bill that November that not only ended supervision and proper auditing, it also opened the door to unbridled international trading where our government in effect paid our own companies to close down in the U.S. and move overseas.

So this is the way it works; Bernie rants about all that happened as a result of the deregulation that he proudly tells us he voted against, but never even mentions it was created and signed by not only a Democratic president, but the husband of Hillary - - his opponent. I remember when this happened and recall seeing Rubin on the Sunday talk shows telling us that “President Clinton supports these changes in Wall Street financial practices in order to give U. S. citizens access to better and more competitive markets, and greater returns on their investments in new Wall Street instruments.” One of the biggest lies ever told and one that fits the 1930s classic of the Communist/Socialist leaders of the day: “A lie, repeated often enough, becomes truth.”

Left wing elites, most academics, and many unions are in the tank for Hillary, but do not want to ever discuss her history or that of her days when we had Bill Clinton as president. Remember the phrase “we got two for one” during the Clinton era?

If Bernie Sanders was really a committed opponent and lived up to his Socialist claims, he would rattle off the names I outline here as those who did the most to unbalance the scales of opportuinty and create financial entities that even President Obama saw as “too big to fail” - - and funded with your tax dollars, making them even bigger on his watch.

The Trump phenomenon is playing right into the hands of the Hillary/Hollywood/Media cabal by keeping everyone focused on the trivial pursuit of Republican antics during the primary.  Where are the Elizabeth Warrens and others who have called out for re-regulation? One would think that they would be trying to align themselves with the work of one Shelia Bair, who as chair of the FDIC, tried to take to the public the truth about Wall Street’s series of manipulations begun as quickly as possible after that November day in 1999 when President Clinton told them in effect: “All world markets are yours, anyway you want to work it.”

It was printed at that time in the mainstream press that Sanford Weil asked Treasury Secretary Rubin to get him the pen that Clinton used to sign the deregulation bill. When Rubin handed it to Weil, he was reported to have said: “You just bought the U.S. Government.”

Jim Foster

The Independent Voice

To follow: How Philly’s First Pennsylvania failure laid the groundwork for Too Big to Fail.