Obama Has His Priorities

Obama is putting the banks on the back burner to pursue his dream of total socialism.

The Obama administration’s revamp of U.S. banking and market regulations may be stalled into next year as Congress and the president set health-care reform and climate control as domestic priorities.

The ability of banks to repay U.S. aid and raise capital without government help may signal the economy is rebounding, easing pressure for sweeping change in financial rules. A delay this year may push the political debate into the 2010 congressional election campaign.

“It seems like some of the fire in the discussions has gone out of it,” said Alex Pollock, a fellow at the American Enterprise Institute in Washington and former president of the Chicago Federal Home Loan Bank. “Regulatory reform is always a popular topic in the wake of a bubble and bust.”

What is happening is Obama and his team are realizing that within the next several months it will become very clear that his economic policies are a failure. At that point, he may lose some of the current blind support he enjoys in Congress.

So he is going to forge ahead with his socialism efforts while he still has the votes to do so.