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Larry Flynt: Obama vs FDR

President Obama must take a lesson from Franklin Delano Roosevelt: Confront Wall Street and the Republicans head on. It was Republican strategist Grover Norquist who said he wanted to shrink government “down to the size where we can drown it in the bathtub.” The Republicans have succeeded in that regard. Thanks to Ronald Reagan and eight years of the Bush Administration, with its tax cuts and out-of control spending – the government is broke.

Wall Street’s involvement in subprime mortgages was just the final straw. Obama’s plan for dealing with the toxic assets of Wall Street—the administration purchasing up to a trillion dollars in bad mortgages and such—is really the Bush plan with lipstick. If the value of the asset goes up, Wall Street collects big-time. If it goes down, most of the cost falls on taxpayers. It’s a win-win for Wall Street. Meanwhile, there’s no money left for you. If the President won’t stand up to Republican fat cats as FDR did, we are all screwed.

Larry Flynt

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