{"id":35309,"date":"2010-05-04T01:01:01","date_gmt":"2011-05-19T01:05:11","guid":{"rendered":""},"modified":"2011-05-19T01:05:11","modified_gmt":"2011-05-19T01:05:11","slug":"rush_s_morning_update_freefall_may_5_2010","status":"publish","type":"post","link":"https:\/\/www.rushlimbaugh.com\/daily\/2010\/05\/04\/rush_s_morning_update_freefall_may_5_2010\/","title":{"rendered":"Rush\u2019s Morning Update: Freefall\r\n\r\nMay 5, 2010"},"content":{"rendered":"
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Rush\u2019s Morning Update: Freefall<\/strong><\/line>May 5, 2010<\/strong><\/strong><\/line><\/line>Watch It!<\/strong> <\/strong>Download Morning Update Video in QuickTime<\/a><\/line><\/a><\/line><\/p>\n

Listen to It!<\/strong> Windows Media Player<\/strong><\/a>|RealPlayer<\/strong><\/a> <\/p>\n

This week, the US Senate will debate and vote on amendments to Chris Dodd\u2019s financial reform bill. Like all other legislation Democrats call “reform,” it\u2019s just another power grab.<\/p>\n

But a liberal coalition of Senators– led by Ted Kaufman, Delaware\u2019s unelected replacement for Joe Biden– say the Dodd bill doesn\u2019t go far enough,so they\u2019re working on amendments to actually break up the top six American banks. Their targets are: Bank of America, JP Morgan Chase, Goldman Sachs, Wells Fargo, Morgan Stanley, and Citigroup. <\/p>\n

In a recent interview, Senator Kaufman complained that these financial institutions are too big to manage and regulate. The Kaufman coalition\u2019s proposals would give the banks three or four years to “wind themselves down.”<\/p>\n

As bad as the Dodd bill is without amendments, this push from Senate liberals is so bad it has even taken the White House by surprise,according to AP. Obama economic advisor Larry Summers says that breaking up the banks would hurt American competitiveness, as well as banks\u2019 ability to service large companies. Because individual banks would be less diversified, a breakup would also increase bank failures,but none of these arguments resonate with Senate liberals –they don\u2019t care.<\/p>\n

Today, every business sector is,in one way or another,under assault by a government that\u2019s no longer interested in protecting their rights or protecting our economy,but instead is fully committed to their destruction. With Democrats in charge, America is no longer headed toward a “slippery slope” –we\u2019re in freefall. <\/p>\n

*Note: Links to content outside RushLimbaugh.com usually become inactive over time.<\/p>\n","protected":false},"excerpt":{"rendered":"

Rush\u2019s Morning Update: FreefallMay 5, 2010Watch It! Download Morning Update Video in QuickTime Listen to It! Windows Media Player|RealPlayer This week, the US Senate will debate and vote on amendments to Chris Dodd\u2019s financial reform bill. Like all other legislation Democrats call “reform,” it\u2019s just another power grab. 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