"The toughest financial regulations since the Great Depression" approved (regular, radical)
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Sweeping would have been the repeal of Gramm-Leachy and a full audit of the Fed.
What we got is more regulations that we will have to pay for because big business NEVER absorbs any cost of doing business.
Peter Schiff said the same thing, that this bill will just add to the cost of doing business, cost jobs and do nothing to solve the problems that led to the financial crisis.
Peter Schiff said the same thing, that this bill will just add to the cost of doing business, cost jobs and do nothing to solve the problems that led to the financial crisis.
And no one can agree on exactly what those problems were. Greenspan is denial up and down. Gramm is denial up and down. So, how can they fix it if they can't get a consensus on what caused it ?
And no one can agree on exactly what those problems were. Greenspan is denial up and down. Gramm is denial up and down. So, how can they fix it if they can't get a consensus on what caused it ?
Peter Schiff said the same thing, that this bill will just add to the cost of doing business, cost jobs and do nothing to solve the problems that led to the financial crisis.
Obama is a puppet of the banking cartel. There is no way he would ever do anything that would hurt the banks.
WASHINGTON — Congressional negotiators struck a deal Friday on the toughest financial regulations since the Great Depression, aiming to rein in Wall Street excess and tighten rules on everything from simple debit card swipes to the most complex securities.
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The legislation creates a new federal agency to police consumer lending, set up a warning system for financial risks, force failing firms to liquidate and map new rules for instruments that have been largely uncontrolled.
Leaving the White House for the economic summit, Obama said the package will "help prevent another financial crisis like the one that we're still recovering from."
I'm glad this happened, but I wish this would have started right after the crisis broke. I believe that then the financial lobby would have had far less influence and would have been more contrite. Plus, there would have been more bipartisan support.
I'm glad this happened, but I wish this would have started right after the crisis broke. I believe that then the financial lobby would have had far less influence and would have been more contrite. Plus, there would have been more bipartisan support.
Would this have been before or after Paulsen/Bernake had that little closed door session with Congress where they passed TARP ?
Any president will do things you dont agree with. The important thing is that they are intelligent, hard working, reflective, open minded, and have a strong resolve and focus. I feel that Obama is all this and yes he has made mistakes. After that 2nd round of tarp, focusing on health care instead of jobs, and now with the oil spill, there is now way he will get reelected, but I do not see anyone from the Foxpartyteapublicans that could beat Obama at what he does best...campaigning.
One thing this financial crisis has done has further integrated corporate america with the us government. See Fink, the trillion $ man and Black Rock as a great example.
Lastly, I think a big problem with USA citizens is that they only watch and read that which reinforces thier own beliefs and ideals. How many times have you Republicans took a few min to watch Rachel Maddow with an open mind? Or have you Obama lovers tried to listen to like a Neil Borrtz? I have tried to watch Fox but it is 75% opinion and 80% of that opinion is construed as fact. It is the Jerry Springer of TV News, however, I do read a few conservative articles so that I can be a more informed citizen. The best news is still The Daily Show and Colbert
..oh crap I am just rambling on now. Time for bed
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