President Obama’s Plan for Financial Regulatory Reform
Friday, October 16th, 2009 at
3:33 pm
Austan Goolsbee of the Council of Economic Advisers talks the Consumer Financial Protection Agency and overall financial regulatory reform. (public domain)
Tagged with: credit cards • economy • finance • financial • mortgages • Obama • president • regulation • Wall Street • White House
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We now know what farce the Nobel Prize is.
A man hardly in Office gets nominated for a Peace Prize. His initial actions in the ensuing months promotes tension and military conflict. He then is awarded a Prize for promoting Peace despite his efforts to support military intervention.
Is it irony or hypocrisy?
Say hello to my little friend.
Anyone else notice the Casius Clay poster on the wall in the background.
So it is this garbage he talked aout and giving the federal reserve control over systemic risk.
Maybe we can bring back dick chenney to manage human rights.
THINK FOR YOURSELF – QUESTION AUTHORITY
To me liberty is limited governement and the ability to persue ones own goals with a minimum of governement intervention. Its also the right to keep most of my property instead of turning it over to the federal government. Time is short so why am I spending over a quarter of my labor for the federal governement? I have to save for retirement but the government takes 12% of my income as if I could live on social security. If I had that money back I am sure I could do better.
egg-onomic huh?
Im suprised you have lasted 3 hours without someone calling you ‘racsist’ for calling Muhammed Ali – Casius Clay! Congrats….for this i award you the Nobel Peace prize
People are the government. People aren’t big business. Big business has too much power in our society. Microsoft takes over my computer with updates and I don’t know what they are doing. Energy companies jack up my rates and institutional investors jack up the price of oil with speculation. Big business controls almost all of the information that is disseminated to society.
And here I thought there WERE usury laws in the US.
What is it exactly you thought you were adding to the conversation?
You’ve tossed out a disparaging generality and … nothing more.
Do us and yourself a favour. Next time you want to hear yourself speak w/o thoughtfully pondering the topic first. Do it in a mirror in the bathroom. We’ll all appreciate your efforts then.
It all depends what kind of job do they have. If you have shitty job, then you’ll know that you won’t be able to make any profit…
5hrs now.
I did hesitate. Initially I was going to use the name Mohammad Ali. Now I wish I had googled the names before posting. His name is correctly spelled Cassius M. Clay. note 3 “s” in first name.
No sense baiting the “I hate islamo-fascists” crowd so I went with Cassius to give recognition to his Louisvillian roots.
Yeah, am a tad surprised someone didn’t jump on it for whatever reason just for bringing it up.
Correct. I’m from an European country where there are no overdraft fees as well as a fully electronic system, so no checks for over a decade now. US is a bit behind, 10 years or so, ugh. Internet connectivity about 5 years behind. Same as north Africa. Won’t take long before Africa starts sending money back.
and you can blame obama
I’ve worked in the Credit Dept for Cingular Wireless/BellSouth Wireless Data. They charged people monstrous overage charges and asked people why they didn’t change their plan. The trouble is that Cingular/BellSouth was very late in their billing, I’m talking 2-3 months late. They behaved like criminals.
underbird:The credit crash happen because bad and good loans were mixed and then sold as top rated debt.Congress lead by Democrats encouraged lax lending standards.Congress lead by Republicans eliminated the separation between the banking and investment industries allowing this bundling fraud.Congress has oversight of both of these industries and failed to do it’s job.The result of this deregulation was a credit freeze which threaten another depression. That is why Tarp was necessary.
So you describe how government intervention has caused the credit crisis so thats why we needed….more government intervention. I propose that a small group of lawyers that can win a popularity contest are NOT and will NEVER be qualified to run the entire economy. Allow us the people to control our own money. Pass laws only to enforce contracts etc.
Yes, I support the bill. Similar measures have been taken by the labor government of my home counry norway. Stablilzing the economy by setting up and enforcing rules for the finance market is a matter of necessity rather than a left-right political issue. I bet quite a few conservatives in capitol hill will support this bill.
At least these people know what they are doing , they are not nut jobs like Republicans.
You dolt. These are the same people who CREATED this crisis in the late 90′s.
Repubicans caused the financial crash, plain and simple!!!! It began with bush, and a repubican congress!!!! I get so sick of the lies that repubs spread!!! Do yourself a favor. Conservatism is a bad philosophy, vote out ALL republicans during the next election!!!!. Then vote for and elect good Democrats, like those we have in office right now!!!! And dont forget to vote for Obama for 4 more years, so he can continue to fix this country so it is inhabitable for all Black Americans!!!!
Financial institutions are robbing dumb or desparate Americans out of their money, while a corrupt government (which oversaw the creation of this depression) is going to “come to the rescue” by giving birth to yet another government agency. This results in a growing gov’t and a removal of more and more of your freedoms.
Immorality and stupidity created these conditions in part. If we had morality, accountability and intelligence in abundance we would not be facing imminent socialism.
Rogain
It all starts/ends with Government reform, not business reform. What hole did this guy get pulled out of? He has a face for radio…
TARP was never “necessary” unless you work for Goldman Sachs… Obama needed TARP worse than anyone. If he didn’t threaten martial law to get it, his ACORN/Racist threats would have come out.
Why don’t they just have credit card companies follow the laws that are already on the books? Hey, now thats a novel thought. Oh, all are in the pockets of Obama…
OK Mr. Goolsbee, you can tone down the drama a little, it’s OK.
so what is R. Nader talking about on the news today