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Posted: 6/17/2009 3:35:46 PM EST
WASHINGTON –– Addressing "the failure of an entire system," President Obama will announce sweeping regulatory changes for Wall Street –– including safeguards for consumers and checks on CEO pay –– designed to shore up confidence in US financial markets and block another potentialy devastating financial catastrophe.

The proposal would give the Federal Reserve broad authority to police the nation's entire financial system, and would create a new watchdog agency to guard against the types of abuses that played a big role in the current crisis –– including the trading of risky securities based on home mortgages. It also would curb excessive compensation for corporate CEOs, whose eye-popping salaries in the wake of the financial collapse triggered widespread public outrage.

"It is an indisputable fact that one of the most significant contributors to our economic downturn was an unraveling of major financial institutions and the lack of adequate regulatory structures to prevent abuse and excess," Obama said. "A culture of irresponsibility took root from Wall Street to Washington to Main Street," fueled in part by an intricate, computerized global economy that far oupaced laws drafted after the Great Depression more than 70 years ago.


http://www.boston.com/news/politics/politicalintelligence/2009/06/obama_announces_7.html
Link Posted: 6/18/2009 3:18:51 AM EST
No one has anything to add?
Link Posted: 6/18/2009 3:21:11 AM EST

Originally Posted By Pred:
No one has anything to add?

Nope
Link Posted: 6/18/2009 3:21:14 AM EST
[Last Edit: 6/18/2009 3:21:50 AM EST by Torf]

Originally Posted By Pred:
No one has anything to add?



ETA: Fuck Obama
Link Posted: 6/18/2009 3:21:31 AM EST
Originally Posted By Pred:
No one has anything to add?


Obama = Shit

How's that?

Link Posted: 6/18/2009 3:24:43 AM EST
[Last Edit: 6/18/2009 3:24:57 AM EST by jmb_nova]
Surely this shit is illegal. What happened to all the people who stand up for what is wrong????
Link Posted: 6/18/2009 3:29:00 AM EST

Originally Posted By jmb_nova:
Surely this shit is illegal. What happened to all the people who stand up for what is wrong????

I guess all those people are busy complaining about all the other things Obama is doing that are unconstutional, socialist, etc.
Link Posted: 6/18/2009 3:30:49 AM EST
Pretty sweet how it gives the Fed more power, that privately owned banking monopoly we've all come to love. I like how they say "another financial collapse" like we're through the first one.
Link Posted: 6/18/2009 3:31:18 AM EST
Originally Posted By MarkNH:

Originally Posted By jmb_nova:
Surely this shit is illegal. What happened to all the people who stand up for what is wrong????

I guess all those people are busy complaining about all the other things Obama is doing that are unconstutional, socialist, etc.


I guess. With a country that LOVES to sue people, whi sint this shit being elevated to the right levels??

When does IT really begin???
Link Posted: 6/18/2009 3:34:09 AM EST
Government controlling industry is facism.

To turn over control to a private entity, the Federal Reserve, which contributed to this mess, is surrending the authority of the government to those very people. There's a latin saying that asks, who watches the guards?
Link Posted: 6/18/2009 3:35:31 AM EST

Originally Posted By Pred:
No one has anything to add?


Yeah, wake me up when its over.

These kinds of changes are still going to hurt Obama's base in the long range. Prosperity may not necessarily trickle down, but poverty certainly does.
Link Posted: 6/18/2009 3:36:28 AM EST
Fox guarding the hen house.
Link Posted: 6/18/2009 3:38:02 AM EST
So who's preventing the excesses and abuses in Washington? Oh yeah they fired that guy.
Link Posted: 6/18/2009 3:55:26 AM EST
FOBO
Link Posted: 6/18/2009 4:07:15 AM EST
Due to the fact that I like it around here, I'm not gonna say anything......
Link Posted: 6/18/2009 4:07:28 AM EST
nope...no globalist takeover going on at all..couldn't happen here...tinfoil...
Link Posted: 6/18/2009 4:13:54 AM EST
What's the damn SEC for? This tool is creating so many government agencies and czars that we should just abolish congress. Just another jobs program for obunhole's cronies and a further move towards socialism.
Link Posted: 6/18/2009 4:14:17 AM EST
Originally Posted By 86Jeep:
So who's preventing the excesses and abuses in Washington? Oh yeah they fired that guy.


This

Link Posted: 6/18/2009 4:14:45 AM EST
Look on the bright side, you were alive to witness the end of a great nation.

Its funny and sometimes over used by the chicken littles of the world so it kinda loses its impact, but this really is the end of America as we know it. Think about it and what you plan to do about it.

Things will never be the same and they will get worse from here unless something is done to stem the tide.

Hold onto your guns tightly cause they're on their way for them next. They can't get where they wanna go while you have them.
Link Posted: 6/18/2009 4:18:27 AM EST
I am going to start a fund to help compensate these CEOs for their loss of income. Once I get all the details worked out, I'll be sure to post the address where everyone can help contribute to their well being. We CAN make a difference
Link Posted: 6/18/2009 4:24:18 AM EST
Originally Posted By Pred:
No one has anything to add?


Link Posted: 6/18/2009 4:25:47 AM EST
Originally Posted By PantherArms762:
Look on the bright side, you were alive to witness the end of a great nation.

Its funny and sometimes over used by the chicken littles of the world so it kinda loses its impact, but this really is the end of America as we know it. Think about it and what you plan to do about it.

Things will never be the same and they will get worse from here unless something is done to stem the tide.

Hold onto your guns tightly cause they're on their way for them next. They can't get where they wanna go while you have them.


Gallows humor.

I concur though.

The problem with the new rules is that it will give the Fed more power. And, what makes anyone think that the Fed will abide by new rules when they didn't even abide by the old ones? This has the potential to be a cluster fuck of even greater proportions than the current cluster fuck.
Link Posted: 6/18/2009 4:28:15 AM EST
[Last Edit: 6/18/2009 4:30:49 AM EST by liaisons]








Link Posted: 6/18/2009 4:28:29 AM EST
Originally Posted By PantherArms762:
Look on the bright side, you were alive to witness the end of a great nation.

Its funny and sometimes over used by the chicken littles of the world so it kinda loses its impact, but this really is the end of America as we know it. Think about it and what you plan to do about it.

Things will never be the same and they will get worse from here unless something is done to stem the tide.

Hold onto your guns tightly cause they're on their way for them next. They can't get where they wanna go while you have them.


by the time they come after your guns you will be isolated politically,socially, and economically..

your children will have no use for your guns
Link Posted: 6/18/2009 4:29:55 AM EST
Excessive compensation laws are already on the books.
Link Posted: 6/18/2009 4:31:51 AM EST
Inspiration for mediocrity.
Link Posted: 6/18/2009 4:47:49 AM EST
FUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU­UUUUUUUUUUUUUUUUUUUUUCK
Link Posted: 6/18/2009 4:51:22 AM EST
Gee, just reviewed my pocket Constitution and I read nowhere that the prez has such authority.....

not that anybody would notice
Link Posted: 6/18/2009 4:54:00 AM EST
Originally Posted By Beachjumper12:
Gee, just reviewed my pocket Constitution and I read nowhere that the prez has such authority.....

not that anybody would notice


That was what the President wants. Now it has to go to Congress and there, one of his lackeys can introduce the Legislation and then the asshats can vote on it. It's not Law, just a wish list right now.
Link Posted: 6/18/2009 4:57:37 AM EST
Originally Posted By Colby:
Originally Posted By Beachjumper12:
Gee, just reviewed my pocket Constitution and I read nowhere that the prez has such authority.....

not that anybody would notice


That was what the President wants. Now it has to go to Congress and there, one of his lackeys can introduce the Legislation and then the asshats can vote on it. It's not Law, just a wish list right now.


find lackeys...

find shovel...

...
Link Posted: 6/18/2009 5:02:44 AM EST
Originally Posted By Beachjumper12:
Originally Posted By Colby:
Originally Posted By Beachjumper12:
Gee, just reviewed my pocket Constitution and I read nowhere that the prez has such authority.....

not that anybody would notice


That was what the President wants. Now it has to go to Congress and there, one of his lackeys can introduce the Legislation and then the asshats can vote on it. It's not Law, just a wish list right now.


find lackeys...

find shovel...

...


You're probably right. The Congress is chock full of useful idiots. Stalin would probably like this Obama fellow....

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