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President Obama sais he veto bill without controls on derivatives

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phleshdef Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-16-10 02:42 PM
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President Obama sais he veto bill without controls on derivatives
– President Barack Obama vowed Friday to veto a financial overhaul bill that doesn't regulate the eclectic derivatives market, even as Senate Republicans lined up en masse against it.

Legislation pending in Congress would for the first time regulate derivatives, complex financial instruments like the mortgage-backed securities that contributed to a near economic meltdown in 2008 when their value plummeted during the housing crisis.


http://news.yahoo.com/s/ap/us_obama_financial_reform
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OHdem10 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-16-10 02:54 PM
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1. Good for Mr. President. He must stick to his guns on this one.
The Democrats had better lean to frame this correctly.

Talking about derivatives and the public's eyes glaxe over.

The GOP with their DEREGULATION opened the gates and permitted
WALL STREET to crash and burn. Now the GOP refuses to cllose
the gates. They are protecting their interests on Wall Street.
and thus the screws will be repeated for MainSTREEt.

They have to make the argument tying the Wall Street Failure
to the GOP and their laws specifically deregulating Wall Street.
emphasisng they are refusing to correct the problem.

Democrats had better come out loud and clear GOP is setting
us up for more bail outs as they pretend differently. Typical
GOP strategy that no one has pointed out to the average American.
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