Will the Dodd-Frank reform bill, recently signed by President Obama, prevent another financial crises? Not according to Gerald Celente, director of the Trends Research Institute.
“The White House lies and the media swears to it,” says the trends forecaster. Celente calls the bill a “whitewash for the white shoe boys on Wall Street” and states it will do nothing to prevent the coming Crash of 2010. He points out that, unlike what the government says, the public will have to continue bailing out the too-big-to-fails when they fail.
To address the real problem, Celente argues, the crooks from Wall Street must be removed from the White House and the Glass-Steagall Act needs to be reinstalled to prevent banks from consolidating.
On politicians in Washington, Celente comments: “They’re not out of touch. They’re in bed and paid off (by Wall Street).” He mentions the only one left with any credibility is Congressman Ron Paul, who has a firm grip on what’s going on.
Reprinted from Bull Source.
Gerald Celente is founder and director of The Trends Research Institute, author of Trends 2000 and Trend Tracking (Warner Books), and publisher of The Trends Journal. He has been forecasting trends since 1980, and recently called “The Collapse of ’09.”
© 2010 Bull Source