President Obama Announces Financial Regulation Reform
Saturday, August 15th, 2009 at
10:42 am
As the culmination of a months-long process in which the President consulted with the most expert and experienced regulators, leaders in Congress, and his entire economic team, he announces his vision for desperately needed financial regulatory reform. A major brick in the new foundation for Americas economy. June 17, 2009. (Public Domain)
Tagged with: banking • banks • Financial Regulation • Geithner • President Barack Obama • Regulations • Regulatory Reform • White House
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WASHINGTON (June 20) – Brash Texas billionaire R. Allen Stanford was indicted and jailed Friday on charges his international banking empire was really just a Ponzi scheme built on lies, bluster and bribery. This why we need Reform!!!
We will never get reform if the “Glass Steagall Act ” is not implemented and enforced. Also the “Sherman Act”, that was dismantled by that traitor Reagan.
Obama so far has done nothing for us the people, even the credit card reform is just toilet paper. What a joke.
Congress forces Fredie & Fannie to give loans to minorities who can’t afford them and are to dumb to read a contract then Obamboozle blames the banks.
as far as the housing bubble, I am going to blame the idiots thinking owning a home through debt with the intent that the home prices long term value would offer them a gain are the culprits for the housing bubble. There ignorance on the nature of financial trends has caused this housing systematic response. Houses are very illiquid assets so even if they would have made a gain, more than likely the majority of them would not have been able to convert their individual profit to cash.
However, fannie and freddie are equally responsible and should have been forced to go under and not been given trillions from the fed inflating the dollar and making g/s more expensive for those who have had there money invested in checking/savings accounts. More regulation is not the answer. The answer is to let the free market work. The government are not financial experts. The financial companies, for instance the bank holding companies, will be able to find a way around ne regulation
In other words, it wont work. It sounds like a good plan to those who cant critically think but believe me, regulation is not the answer. By bailing out aig and the other fraudulent banks, brokerage and financial firms are only going to raise tax payer dollars and allow the incompetent or shall I say the unscrupulous fraudelent people responsible for the purposfully short term profitable gains with the long term destructive outcomes to stay in business so eventually, with the so called
new regulation to monitor their actions will just allow them to manipulate the governmental regulatory systems. It won’t work and the crooks are getting away with ripping off the entire countries hard earned dollars through the inflationary depression americans are about to experience with high interest rate loans that will eventually occur through commercial banks teller windows.
If they were allowed to go under, new organizations would have taken their places and all the bailout money would never have come into circulation in our economy. All it did is raise the national debt. Think about it, buy giving banks capital, will allow them to give out new loans at interest. In order for them to repay the money given to them by the fed means the loans will be given to the public to pay back at interest. Because money is short and people are desperate
the same scenerio will occur which will more than likely result in the exact same situation we were in with the housing crisis which in turn will cause banks to need more capital and so on and so forth.
An overhaul of this crappy financial system is exactly what we need. People need to get out of there sheltered bubble listen to what our President is saying.
This exactly the change we need. Its gonna work.
Obama 2012
why?
A deregulated system is what led to this, and the main cause was wall street and the banks in the form of “derivatives.
The selling of debt, since no regulation existed they played poker with our money.
Just enforce “Glass steagall” and the “Sherman Act” and send the thieves to jail.
And i agree with letting banks and wall street fail, allot of banks are fine, this giving money to the rich is outrageous.
Down with the federal Tyranny System.
I’m from Norway, and by experience throughout my whole life living in my country, I KNOW that the system he wants really works. Good luck America.
Since taking office . . . I’ve really fucked the American people over. But, they deserve it for being stupid enough to vote for me because I am a sleeper cell planted by Islamo-Nazis.
The signs of someone telling lies are becoming more and more apparent with Barry hes losing his charm, studoring and shifting around
Obama 2012
search: “Republican Attack Ad 2009″
The Legend pt 5 – _BADXXXCHICKS._COM_
Kathleen Kruz – 1st Time Teens #4 – Scene 3 – _APRETTYGIRLS{.}COM_
Stop paying taxes End of socialism
MORE POWER TO THE FED, President Obama, ARE YOU INSANE?
The people want to abolish the Fed, and you want to give them more power?
OMG, this president is the best puppet the international bankers have ever had, keep up the good work you’re doing for bankers Mr. President.
OMG This Guy is scary,,,Resist the New World Order. You tube won’t let me post the link to the End The Fed Network. All of America needs to get on with Ron Paul,,,,Any way to withdrawal my Vote?
He is such a good Liar,,,anybody know how to tell when he’s lying?,,,His Fuckin lips move…
Sound Money for America! Support HR 1207, S.604 and HR 833!