President Obama pushes passage of Wall Street reform bill

Source: Associated Press

President Barack Obama pushed on Saturday for passage of a financial overhaul bill being debated on Capitol Hill, saying it would empower consumers and bring back-room investment deals "into the light of day."

In his weekly radio and Internet address, Obama said the legislation would also curb predatory lending practices, prevent banks from taking on too much risk and give shareholders more of a say.

"Put simply, Wall Street reform will bring greater security to folks on Main Street," the president said.

"My responsibility as president isn't just to help our economy rebound from this recession; it's to make sure an economic crisis like the one that helped trigger this recession never happens again," he said. "That's what Wall Street reform will help us do."

Read more: http://news.yahoo.com/s/ap/us_obama_financial_overhaul

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Weekly Address: Wall Street Reform & Main Street
http://www.whitehouse.gov/blog/2010/05/15/weekly-address-wall-street-reform-main-street

Weekly Address: President Obama "Wall Street Reform Will Bring Greater Security to Folks on Main Street"
http://www.whitehouse.gov/the-press-office/weekly-address-president-obama-wall-street-reform-will-bring-greater-security-folks

conducting back-room, closed-door meetings himself pledges to "bring back-room investment deals 'into the light of day', you gotta wonder who the fuck he thinks he's talking to. Obama has all the credibility of Melvin Dummar when it comes to reforming ANYTHING. I wish he would just stop talking this nonsense, because the experience of constantly being mistaken for stupid is becoming wearisome.

thing he wants for the cameras, and do the exact opposite when they turn off.

TWO-FACED contempt for the voters of this country.

I'm sure you have the solution if he would just do what you want.

I'll wait till he actually does fail in this before I jump on the hate wagon.

So tired of the cheer leading.

Just because people point out a worrisome pattern about Obama we're hater's?

Well then you'd better watch out for blind followers cause that's been just great for the world!

I voted for Obama with reservations which he seems to be proving out.

Am I a hater or am I just concerned for my daughters future whomever is in charge.

I am certainly not a blind follower.

The facts are the facts, deal with it.

-p

You may not be a blind follower but it seems you are a blind hater regardless of what he says. Like I said, I'll wait for the results before I pass judgement.

Excuses!

Are you not on the internets? Have you been reading anything here. I've grown up with this blind following and got PTSD from it. Yeah, it's called respecting your parents and that's what they gave me.

I know when to quit arguing with someone when the impenetrable wall of ignorance goes up because I've lived it.

Hope we're not all in the shit hole by the time you get your F'ing facts.

Hey here's an idea why don't you look for your facts instead of waiting, that seems like the more responsible thing to do. That is of course if facts matter that much to you.

Geeezzuuus

-p

Your free to blindly hate all you want.

Totally expecting that kind of reply.

I remember those kinds of debates back in grade school. Yeah and your one too. neener neener.

All I ask is please don't perpetuate ignorance. There seems to be more than enough to go around AKA "teaparty".

Feel free to be as ignorant as you want.

-p

In this case we have a President who was adamantly opposed to auditing the Fed just a few days ago, and now he's preaching about the importance of "the light of day".

You are correct. If we don't push back against the corporatist, war-monger, executive-power, anti-civil-liberties crowd, we're screwed. It doesn't matter what brand-name they claim to wear; if it walks like a duck...

I mean really look at the conversation from a third person perspective.

There was dialog, someone comes in, starts calling people names and discouraging dialog. WTF

Because great things come from not talking to one another?

And the "waiting".... Obviously not part of the population that's being affected by the "waiting", cause she cares so much.

I better go before I fume anymore.


Thanks Iowa

-p

Are you among them???

I'm still hoping for his success. That never changed. But what is worrysome is that key parts of the legislation that will reign in the careless gaming on Wall Street are being attacked and some have been taken out already. What we DO NOT need his him pushing to pass whatever watered down crap gets through, just to win on a few points while missing dozens of others, allowing another economic crisis. What we DO need from our President is a demand that the bill NOT be weakend as it is, demanding real reform on his desk.

That's right. The same Republicans who are pushing for lawsuits to challenge health care reform are defending federal preemption of state consumer protection laws.

http://online.wsj.com/article/SB10001424052748704614204575246242440938792.html?mod=rss_Today's_Most_Popular

Source: The Wall Street Journal

WASHINGTON—President Barak Obama used his weekly radio address Saturday to stress the importance of overhauling Wall Street, saying Democratic proposals in the Senate would give consumers strong protections and keep predatory lenders at bay.
He said that while legislation in the Senate would make a host of technical changes to how Wall Street and the financial industry as a whole operates, it will also include strong provisions to protect consumers from deceptive practices that helped contribute to the economic crisis.

"You'll be empowered with the clear and concise information you need to make the choices that are best for you," Mr. Obama said of the bill. He added, "We'll help stop predatory practices, and curb unscrupulous lenders, helping secure your family's financial future."

His remarks come as Democrats and Republicans have sparred in Congress over the financial bill, with particular bitter fighting revolving around consumer-protection provisions.

A bill by Sen. Christopher Dodd (D., Conn.) would create a consumer-protection bureau with power to enforce regulations on a national level and give states extra authority to oversee consumer regulations. Republicans have said they are in favor of creating the bureau but, along with some Senate Democrats, say giving states extra consumer powers would be duplicative and make it difficult for national banks to abide by a variety of state laws.


Read more: http://online.wsj.com/article/SB10001424052748704614204575246242440938792.html?mod=rss_Today's_Most_Popular

Rally around 'small beginnings'....can't hurt, might be the start of something BIG. (I'm a hopeless romantic and believe that everything is possible.....)

K&R

teabaggers see the Republican party falling all over itself, siding with the big banks. Of course, incrementalism is not DU's strong suit, so the purists will be along shortly to poo poo the whole thing.

More power to ya.