The Ulsterman Report: Obama Thug Alert
Within days of the S&P’s historic downgrade of the United States credit rating, the Obama Department of Justice, led by embattled Attorney General Eric Holder, made known it is now launching an investigation against S&P.
Even by Washington D.C. political standards, the degree of bullying and abuse of power now being utilized by the Obama administration is startling. For the past few years the rating agencies have threatened the United States with a potential downgrade of its credit rating. Each time those warnings were ignored as the federal government persisted in creating trillions more in deficit spending. Finally, Standard and Poor’s did what the Obama administration apparently found inconceivable – it actually laid bare the truth of the nation’s alarming deficits that now endanger present and future generations of Americans and downgraded America’s credit rating – a downgrade that was both deserved and long overdue.
That downgrade in additions to being deserved and overdue, also proved embarrassing to Barack Obama, who has now unleashed the considerable powers of his Department of Justice to investigate S&P for its role during the mortgage crisis that culminated in the economic crash of 2008. In a story leaked to the Obama-friendly New York Times, the Obama DOJ made clear its intent to attempt to now hold the S&P at least partially at fault for the current economy that now threatens to derail President Obama’s hopes for re-election in 2012. It is interesting to note though that the leak to the Times did not occur until after the S&P downgraded the U.S. credit rating, making the current investigation appear more than likely to be retaliatory in nature – a clear abuse of power by an Obama administration increasingly willing to participate in such abuses.
Not only will the move to investigate a ratings agency that embarrassed the administration send a signal to the S&P to not do so again, but it also sends a clear and powerful message to other agencies that if you cross the Obama White House, swift and potentially debilitating retribution will soon follow. It is thug politics being played at the highest level, and a clear rebuke of the limited federal power ideals inherent in the Founder’s vision of what the United States was to be.
This is Barack Obama’s version of America. The question now is whether American voters will end this version in 2012, or allow its abuses to continue for another four years…