As the auto industry and financial markets begin to stabilize, the President says the government’s emergency interventions are now winding down. He pledges that real reform, particularly on Wall Street, must now begin.
Good News all around. I supported the loans to GM and Chrysler, and it looks like it might have been a great investment for our government. With GM paying back the loans 5 years early, it looks like the faith we put in them and the restructuring they did has now paid off.
Now, on to the financial industry... We must have new rules for them and get them regulated. I hope the Senate will pass the bill before them, it may not be the best... but at least it is something. With the current climate in Washington it may be all we can get.
But, it like the health care law, can be added to at a later date if we win a majority back in the fall. Some are now predicting just that.
Thanks everyone and I look forward to your comments.
As the President continues to work on immediate job creation, he discusses his proposal for a new fee on the largest financial institutions to ensure that every cent of taxpayer assistance gets paid back. Saying that, "we're not going to let Wall Street take the money and run," he then to discusses the ongoing push to make sure banks can never put our economy at risk again.
The President lays out again his rules of the road for the banks. Now comes the hard part, getting it past the House and the Senate. That's your next assignment, calling and writing your Congress Critter to let them know this must be passed.
If we don't stand up to them this will happen again. With this and the other reforms that have been introduced in Congress that we should be pushing to get passed maybe we can make sure we don't head down this road again.
Another thing it will help with, it will prove that the GOPers are the ones standing in the way of helping the common people, "main street" if you will and not Wall Street. That is hugely important to the re-election and election of Democrats for a while. No, they aren't the only ones. There are some DemWits who have taken money and who support the greedy bankers, but the number is greater on the right side of the aisle. Some of these legislative moves will call them out, IF we continue the rallying cry and point out the hypocrisy of their ways.
You and I both know it is up to us, because the MSM, contrary to conservative belief is not Liberal, it is owned by Conservatives and is run by them. Yes, some of the people who are in the media are of the Liberal strain, but they are not who runs it and who calls the shots.
So, now is the time once again. After we get health care passed, and by the way... IF YOU KNOW SOMEONE IN MASSACHUSETTS, Call them and tell them to get out and vote Tuesday for Martha Coakley. Please. we need to start working on this. Of course there are other items that need to be worked on too.. but this one is very important to our future economic outlook.
Thanks everyone, remember by this President's actions, whether people want or like to admit it, we staved off a 2nd Depression. Yes, we need to get jobs moving again, but with the banks regulated and money getting out to businesses that will help with the jobs outlook too.
The President explains that while he continues to focus on jobs, it is also profoundly important to address the problems that created this economic mess in the first place. He commends the House of Representatives for passing reforms to our financial system, including a new Consumer Financial Protection Agency, and blasts Republican Leaders and financial industry lobbyists for their joint "pep rally" to defeat it.
So much for the President being in the pocket of Wall Street... This is to me great news. I applaud this mightily. However I am sure there will be the naysayers among the Left who will say it is not enough or he was paid off or something...
It seems no matter what he does it never pleases some, so he is always fighting both sides.. the Rethugs just because they can.. and the Left because he isn't who they thought he would be in their dreams.
No, he isn't.. he is the man who was voted in by so many of you... Democrats, Republicans, Independents alike, and he is trying his very best, to work with the Congress he has to enact the Legislation he can.. to clean up the mess he was left with, to fix the problems out there.. to wind down 2 wars in the best way he knows how.. one that was scheduled already and he has to work within those constrains, (Iraq, I mean) and the other, Afghanistan, just a mess that he said all along he was going to finish the best way he knew how.. If Bush had just finished it we wouldn't be there now...I firmly believe that.. and I don't believe this President wants to be involved in either of these wars.
I have followed and studied this man since 2004. I firmly believed he would be President one day.. I really didn't think it would be this soon...because I didn't think our country was ready. However I knew this country was not ready for a woman either. I know a lot of you put your hopes on Hillary and if you think she would have done any differently than Pres. Obama would have done on Afghanistan or Iran you are sadly mistaken...
We would have been in another war in Iran if Hillary was President. She was trying to get him to use force in Iran, North Korea and other places.. Bill is the calming influence in that couple, not Hillary.. and sorry folks.. we had 8 years of Bill Clinton in the White House... Yes he was a good President.. but I don't think I want him back anytime soon.. really...
