Emigrant Bank was recently identified to receive a waiver that would allow the bank to opt out of rigorous Dodd-Frank requirements. These of course are the same new rules and regulations that Barack deems essential to the nation. Yet when the bank’s owner, Howard Milstein, who is a close friend and was a bundler for President Barack Obama’s 2008 campaign, protested that the new rules would seriously crimp operations of his bank, the Obama Administration worked with members of congress to grant him a waiver from the new rules.
Other financial institutions and banks have consistently and vehemently argued that the Dodd-Frank Legislation that Obama championed is seriously flawed and will bring a raft of unintended consequence--but they were not friends of Barack Obama. These many other banks and institutions are not deemed worthy of a waiver.
Sadly, the case of Emigrant Bank is not the only example of the Obama Administration’s mercurial application of our nation’s laws. There is the obvious case, now being decided by the Supreme Court, of Obamacare, in which some (Nebraska´s Cornhusker’s Kickback or Louisiana’s Purchase) are allowed full exemption from the law’s requirements. What those who are exempted have in common is that, once again, friends of Obama can expect special exemptions from the rules and laws that others must follow.
There seem to be two sets of rules. The special, privileged class of people and businesses (Friends of Obama -FOO) can expect to be granted unique waivers, carve outs and shameful side deals designed to escape, to dodge, and to be exempted from much of the overreaching, poorly conceived legislation and administrative orders that Obama’s White House pushes with utter conviction on the rest of the nation.
On the other hand, if an organization, such as the Catholic Church, that is not a FOO, seeks a principled exemption to an emerging national policy, the organization is ridiculed, dismissed, and ignored.
This disgraceful double standard is becoming a standard practice in the Obama Administration.
Emails: Insurers Warned of Big Premium Increases, Requested and Received Expanded 'Bailout' | Guy Benson