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Obama calls for financial reform this year

"Obama departs the Oval Office to walk to the Marine One helicopter to depart for a speech in New York City on the nation's financial crisis, from the White House in Washington"
2009-09-14 16:09:18

NEW YORK (Reuters) - U.S. President Barack Obama, marking a year since Lehman Brothers collapsed, urged financial firms on Monday not to fight regulatory reform and urged Congress to pass his proposals by the end of the year.

"One year ago, we saw in stark relief how markets can err; how a lack of common-sense rules can lead to excess and abuse; how close we can come to the brink," Obama said, according to prepared remarks.

"One year later, it is incumbent on us to put in place those reforms that will prevent this kind of crisis from ever happening again."

(Writing by Jeff Mason)

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The man that caused Americas down fall.
    Posted by: trulymagical on 2009-09-17 15:50:40  
    
One Year Ago we saw how the worship of the dollar over the consideration for community, how greed left unchecked, how the pandering to the lowest common denominator has bankrupted the ethics of the modern capitalist. Capitalism is not inherently wrong but, it must be balanced with civic responsibility. Corporations used to have pensions that didn't go bankrupt due to mismanagement, unions used to fight for a fair share not just to twist that last dime out of the consumer, Businessmen once gave back to their communities with hospitals, ball parks, theaters now they rarely build these things but, rather they buy them up and raise the prices almost every hospital built in the US before 1970. People forget the name of the hippie generation the one they bore through the 60's it wasn't the age of aquarius, nor was it the free love movement, no they were called the ME generation selfish spoiled baby boomers who never knew anything but everything they could ever want, the same people for whom space was the last limit. They who supposedly wanted to spread peace around the world seem to have just wanted to hang out take what isn't theirs and get rich off the work of others, those that didn't fry their brains completely, or maybe they've engaged in economic terrorism trying to loot the nation from the inside out... after all a nation is only as strong as it's war chest.
More depressing one year ago we saw our taxes bailout investors who had put their money at risk knowingly and for profit but, we saw millions of homes foreclosed on by those who were saved from financial ruin by these same "Home Owners." The American Tax Payer was held by his ankles and shaken down by big government until the last penny fell out of his pockets into the accounts of big business.
The legislation that allowed this current state of financial distress was signed by Bill Clinton, he deregulated banking, he signed the legislation that began the housing sub prime market, he made the changes to the securities regulations. Bush rolled back some taxes the major one being the inheritance tax which if you look at it as: this money has been taxed when earned taxed when it earned interest, & will be taxed as it's spent... how can you expect a deadman to pay taxes on it again before it can be given to his heirs? Bush also as we all know lobbied for the wars in Iraq & Afghanistan but a well mixed Congress voted for it. Bush began this hellish mess of rewarding risky investments with the bail outs but it was this time a democratic Congress that drafted and sent him the legislation.
It's just not possible in the US to lay all of this at anyone's feet especially a guy who just got into the office, Presidents don't make their own messes they clean up for the guys before and leave new messes for the guys after that's just the nature of the office.
I notice that finance reform on Wall Street is a concern for the President but, he's ignoring campaign finance reform, lobbyist reform, or congressional wage reform... politics as usual.
He can sit in his office and refuse to sign anything until they send him the things he wants to sign, that is the right and in this instance the duty of an American President, so I'm sick of hearing one of the most powerful men in the world cry that he can't get Congress to send him the legislation he wants.
I didn't vote for Obama, it had nothing to do with his ethnic origins, because he's a Democrat, I didn't vote for McCain because he's a Republican, these two parties have had control over American politics since the American Civil War, it took them over 100 years just to establish "political equality" between the races, so why anyone continues to vote for engines of such retarded progress is beyond me. If you want to see real change in the US don't vote for the old dog in the new coat, elect a Libertarian.
"Healthcare reform this year... hmmmm no? okay... Financial reform this year... no? okay... then damn it the girls are going to reform school I'll reform something this year or my name ain't Obama."
    Posted by: Munkyman on 2009-10-03 14:40:29  
    
"...almost every hospital built in the US before 1970 'was established as a non profit'." I guess I did something to drop that last part out
    Posted by: Munkyman on 2009-10-03 15:52:11  
    
Look, why can't the guy spell anything out in real terms for the American people? Why is it that every plan, proposal, or law that Obama endorses has to be researched behind-the-scenes by other people? Just tell us what it is you are saying to us, Mr. Obama. JUST TELL US YOUR PLANS LIKE A NORMAL HUMAN BEING!!!!!!!!!!!!!!!!!!!!!
    Posted by: JMONEY507 on 2009-10-08 15:00:50  
    
JMONEY507: I haven't had any trouble understanding what he's saying. Often times, the plans he's talking about aren't being put together by him so he doesn't have the details. For example, the healthcare reform proposals aren't being personally written by him. It's not like these Senators and Representatives are working in Obama's office or check in with him on a daily basis. If you wanna talk about hiding, look at the previous administration. When you're the leader of the free world, you have more important things to do than explain every nuance of legislation you aren't writing.

Munkyman: You make solid points about the consistent inconsistency of both sides, and the total disregard for the American public as a whole. The two-party system fails us time and time again. I wouldn't be for a 100% Libertarian, but we definitely need to get out from under the corrupted mess we've gotten ourselves into.

Trulymagical: You are a crackpot or a fortuneteller. Either way, you add nothing to the discussion. It was almost a complete sentence, though. I'll give you that.
    Posted by: colinstmichael on 2009-10-16 13:07:57  
    
JMONEY507: I haven't had any trouble understanding what he's saying. Often times, the plans he's talking about aren't being put together by him so he doesn't have the details. For example, the healthcare reform proposals aren't being personally written by him. It's not like these Senators and Representatives are working in Obama's office or check in with him on a daily basis. If you wanna talk about hiding, look at the previous administration. When you're the leader of the free world, you have more important things to do than explain every nuance of legislation you aren't writing.

Munkyman: You make solid points about the consistent inconsistency of both sides, and the total disregard for the American public as a whole. The two-party system fails us time and time again. I wouldn't be for a 100% Libertarian, but we definitely need to get out from under the corrupted mess we've gotten ourselves into.

Trulymagical: You are a crackpot or a fortuneteller. Either way, you add nothing to the discussion. It was almost a complete sentence, though. I'll give you that.
    Posted by: colinstmichael on 2009-10-16 13:20:14  
    
JMONEY507: I haven't had any trouble understanding what he's saying. Often times, the plans he's talking about aren't being put together by him so he doesn't have the details. For example, the healthcare reform proposals aren't being personally written by him. It's not like these Senators and Representatives are working in Obama's office or check in with him on a daily basis. If you wanna talk about hiding, look at the previous administration. When you're the leader of the free world, you have more important things to do than explain every nuance of legislation you aren't writing.

Munkyman: You make solid points about the consistent inconsistency of both sides, and the total disregard for the American public as a whole. The two-party system fails us time and time again. I wouldn't be for a 100% Libertarian, but we definitely need to get out from under the corrupted mess we've gotten ourselves into.

Trulymagical: You are a crackpot or a fortuneteller. Either way, you add nothing to the discussion. It was almost a complete sentence, though. I'll give you that.
    Posted by: colinstmichael on 2009-10-16 13:20:41  
    
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    Posted by: happ4u200 on 2009-11-04 18:15:25  
    
i think he doesnt knows what hes doing
    Posted by: DonHo on 2009-11-10 16:27:53  
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