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Remember that just one week prior, President Obama delivered a speech on January 21, 2010 in which he stated:

“Banks will no longer be allowed to own, invest, or sponsor hedge funds, private equity funds, or proprietary trading operations for their own profit, unrelated to serving their customers. If financial firms want to trade for profit, that’s something they’re free to do. Indeed, doing so — responsibly — is a good thing for the markets and the economy. But these firms should not be allowed to run these hedge funds and private equities funds while running a bank backed by the American people.”

By now we all know that AIG failed because of its executives, in their pursuit of huge profits they transformed the company from an insurance company into a giant hedge fund riddled with enormous risk. Goldman Sachs, JP Morgan, Wells Fargo, Citigroup and Bank of America have all transformed themselves into massive hedge funds as well. So if President Obama was sincere in his statement above that “Banks will no longer be allowed to own, invest or sponsor hedge funds”, he would immediately begin the process of shuttering every one of these institutions to restore integrity to the US financial sector.

I have no allegiances to any political party or any man. I have only allegiances to a higher power above, truth, and the Constitutional ideals of the Republic of America. It is my sincere hope that those that formulate their opinions within the extremely narrow and limited framework of political allegiances re-think their perspective and start to formulate their opinions within the framework of justice and morality only. This is the framework by which all men and women should make their decisions. As Socrates stated, “I cannot teach anybody anything. I can only make them think.”

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