Obama is Not Really Helping the Economy

This video is scary. Not only are we in tough economic straits, but apparently the tax money give away that started with Bush and went rampant with Obama is not really helping things.

One thing that struck me is the accounting rules that changed recently. Oh my gosh! It appears that, instead of trying to acurately report items, banks and financial institutions (with the help of our Federal Government) said, "Let's just change how we report things to mak eour balance sheets look better."

I also agree with Black about the bogus stress tests. It's a FARCE and a SHAM! And we know this based on the real facts, not the revised accounting numbers. How do we know the tests are a sham? Stress test doesn't test for asset quality. And, as Black states, "How can the banks all pass the stress test if they collectively need $2 Trillion in U.S. Taxpayer money?"

Also, the whole idea that we can simply inject capital into the banks to make them solvent is ILLEGAL! Black states, "The prior administration violated that law and the current administration is violating that law."

I love his almost blunt answer to the question, "Tim Geitner's the Treasurey Seceratary. Doesn't he know what he's doing?" He starts to say, "No," but backs off and gives a more politic answer, although going on to offer MOUNDS of evidence detailing how Geitner is not qualified.

Watch the whole thing to understand just how screwed up things are right now.