President's Weekly Address: Progress with the G-20 in Pittsburgh

From the White House web site:

Recorded literally on his way back from the G-20 Summit in Pittsburgh, the President uses his Weekly Address to recap the progress made during the intensive discussions with world leaders. From an historic agreement to reform the global financial system, to groundbreaking commitments on reducing subsidies to fossil fuels worldwide, to unity in standing against threats to world peace -- engagement produced tangible results in several areas.

The President this week was given a high honor by chairing the UN Security Council. He is the first US President given this honor. He also brought together ISRAELI Prime Minister Ehud Olmert and Palestinian president Mahmud Abbas since they were elected or put into office and held peace talks with them. This is the first of his outreaches to them in order to achieve lasting peace in the area.

Our President is ambitious if nothing else. He had meetings with Russian President Medvedev whom he has developed a true friendship it appears. At least a good working relationship..

And out of the relationship they and others on the council released information regarding Iran. It stunned the world. But, Israel was aware of it and had warned the world but most people just sloughed it off..

President Obama, not wanting to be like Pres. Bush and being known as the boy who cried wolf, waited until he had definite proof of nuclear buildings that were for bombs not power plants as the Iranians had stated earlier, to release the information. However that doesn't mean he is rushing to war either, as did Pres. Bush. Thank goodness for that. We really have a smart man in office.

Now, here is the President.



I always just post the videos of this.. if anyone would like me to post the transcript, I can start doing that too.. just leave me a message in comments and I will see and answer.. I will be glad to post them along with the video. Thanks all.

President's Weekly Address: Progress in the Global Economy

With the next G20 Summit approaching in Pittsburgh, the President goes over the progress in stemming a global economic crisis. He discusses the impact of the Recovery Act, and pledges that "lobbyists for big Wall Street banks" will not prevent real reform for the future, including a new Consumer Financial Protection Agency.

From the address is this portion I thought worth noting:

Central to these reforms is a new Consumer Financial Protection Agency. Part of what led to this crisis were not just decisions made on Wall Street, but also unsustainable mortgage loans made across the country. While many folks took on more than they knew they could afford, too often folks signed contracts they didn’t fully understand offered by lenders who didn’t always tell the truth. That’s why we need clear rules, clearly enforced. And that’s what this agency will do.

Consumers shouldn’t have to worry about loan contracts written to confuse, hidden fees attached to their mortgages, and financial penalties – whether through a credit card or debit card – that appear without a clear warning on their statements. And responsible lenders, including community banks, trying to do the right thing shouldn’t have to worry about ruinous competition from unregulated and unscrupulous competitors.

I will have more later.. I found something that I want to blog about but have some things to do today and will be gone for most of the day.. but will be here this evening and will write it up then.. but till then.. here is our President.