Fake News: Bank reform takes to the streets

WASHINGTON (April 26) — As part of the financial system reform proposal now before Congress, President Obama announced yesterday that local police will be empowered to stop and arrest anyone they suspect of being a banker.

Despite objections from civil libertarians that such profiling of possible bankers is unconstitutional, the president said that the porous walls of financial institutions were allowing too many illegal executives out into the countryside.

“Bankers are everywhere today,” Obama told reporters at a Rose Garden press conference. “Just look around at the landscapers working right here in this garden. You can tell by their clothing, their music, their food and their ghostly pale skin that they are not legal Americans. We must empower our law enforcement officials to confront these intruders and take them into custody.”

With that, about two dozen middle-aged men dressed in conservative grey business suits dropped their leaf blowers and edgers, and scampered over the wrought-iron fence of the White House grounds and out onto the streets of Washington.

“Get them!” shouted the president. “They’re running away!”

Obama’s announcement represented a sharp reversal of the Administration’s previous stance that the men and women whose irresponsible risk-taking nearly toppled the economy should be granted amnesty, as well as large bonuses. When Arizona began rounding up bankers at routine traffic stops following enactment of that state’s tough new law, the president at first had called the move “a dangerous precedent.” But within days, the president saw the national outcry against employees of depository institutions reaching a fever pitch, and he changed his position.

His speech Monday echoed many of the themes in an address given by Arizona Gov. Jan Brewer, who granted authority to state and local police to “round up the bankers and send them back to Bangkok.”

Civil rights groups like the American Banking Association said they understood the public’s impatience with enacting new regulations, but still opposed the wholesale round-up of all conservatively dressed citizens.

“We’re seeing our members arrested and being forced by police to make a statement well before they’re prepared,” said Harold Penderson, president of the ABA. “Our systems are set up to generate a statement only at the end of the month, and now our customers can help us save money by receiving these statements online instead of through the mail.”

Penderson listed a number of reforms that his member institutions had already established to address the most grievous shortcomings of financial services firms. Among these, he cited new fonts being used on the screens of ATMs, allowing cash to be dispensed in ten-dollar increments instead of the previous twenty-dollar amount, and confirming the end of each electronic transaction with “are you really sure?” instead of the previous “are you sure?”

He also said that large investment banks on Wall Street would now be referred to with derogatory nicknames. For example, Goldman Sachs will be called “Goldman Sucks,” and Citibank will be called “Shittibank.”

Meanwhile, as the national debate rages on about the preferential treatment of Wall Street versus Main Street, another faction has stepped into the fray. Singer Eddy Grant said the residents of another thoroughfare — Electric Avenue — are being overlooked as neighborhood institutions vie for their piece of the pie against the titans of New York’s financial district.

“Down in the street there is violence, and lots of work to be done,” Grant said. “No place to hang out our washing, and I can’t blame all on the sun.”

He added, “Oh … no … We gonna rock down to Electric Avenue, and then we’ll take it higher.”

Grant denied that taking it “higher,” or “workin’ so hard like a soldier,” meant his neighborhood would look to a higher power for authority to violently wrest control of the nation’s assets from the hands of the few.

“Oh, no,” he reiterated when confronted with the charge. “Oh, no.”

Advertisements

Tags: , , , , ,

One Response to “Fake News: Bank reform takes to the streets”

  1. fakename2 Says:

    If I see a suspicious person, say, wearing a gray suit and carrying a briefcase, does the law say I’m now required to report them? Granted they do scare me, and if I encounter a group of them walking down the sidewalk together, I always cross to the other side.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: