Lehman collapse: President Barack Obama to push banking overhaul

drudge ^ | 9-13-09 | James Quinn

[blueyon]

On the eve of the one-year anniversary of Lehman's liquidation filing , the US President will on Monday warn that there remains much to be done to ensure the problems of the last 12 months do not happen again.

Speaking just 10 days before the start of the G20 summit in Pittsburgh – at which world leaders are set to discuss curtailing bankers' bonuses among a raft of potentially restrictive reforms – he will also put the amount of capital banks hold on their balance sheets back at the top of the agenda, acknowledging that the demise of Lehman and Bear Stearns were a by-product of inadequate capital requirements.

[blueyon]

This one is scary also

[blueyon]

See my post about Money market guarantee program expiring (Heads up notice for Sept 18,2009) also......
http://www.freerepublic.com/focus/f-news/2338874/posts

[rvoitier]

To Congress:

STOP HIM!

[popdonnelly]

What we need are regulations governing politicians. They’re out of control.

[maggief]

Celebrate good times ... come on ...

http://www.freerepublic.com/focus/f-news/2338614/posts

Gibbs:

“I think people are upset because on Monday we celebrate the anniversary of the Lehman Brothers collapse that caused a financial catastrophe unlike anything we’ve ever seen.”

[driftdiver]

sounds like another crisis that worked for them last time

[RC2]

He’s pushing for complete control now. There’s a reason he moves so fast folks.

[bergmeid]

Scary indeed. He will end up with control over everything and everybody. If we don’t stop him, that is.

[RC2]

I agree. If they want to get re-elected, they best stop him. Unless he also cancels all elections. Then all hell is going to break loose.

[johniegrad]

What we need are regulations governing politicians

That's supposed to be the Constitution. We just need to elect the people that will follow it.

[nkycincinnatikid]

The viral greed and unacountability of these Mega Banks, with their assured attitude of heads we win and tails the taxpayer will lose gave us Obaama and the crisis to our republic he represents.
I will not waste a moment of concern on this issue.
Not One.

[Leisler]

No, they are in control, and they right the regulations.

That they don’t know what they are doing, yet they firmly believe like World War I Generals in sending millions to die( in our case the economic trenches ) is another matter.

Ah, the joys of delivering ones liberty and rights to centralized power, which, will order you to act against your best instincts.

Now we know what it is like to be a working German stiff in the 1930’s.

[Orange1998]

Don’t you find it strange breaking news from Obama comes from overseas.

[taildragger]

Sarbanes Oxley was supposed to stop all accounting shenanigans. Now he wants to stop banks from doing something stupid, they need morals not to purport upon us moral hazard. That takes an inner compass, of which "O's" is in question....

[ronnie raygun]

We are at a point where there is no one who will step up to the plate and represent us. REPUBLICANS GET UP OFF YOUR SORRY A##ES AND STEP UP TO THE PLATE! WE NEED TO SHUT THEM DOWN!

[EGPWS]

President Barack Obama to push banking overhaul

Not one bank should be denied care.

[Parley Baer]

The very people who were instrumental in the collapse of the banking system are now the ones who want to “fix” it. This is just so preposterous. This needs to be stopped.

[EGPWS]

He’s pushing for complete control now.

Just let him try, after all we are an armed society. (....Oh...oh... what am I saying)

[PGalt]

What’s the problem, Barry? No one from the financial oligarchy is accused of any wrongdoing. These law-abiding citizens should not be subject to greater control. After all we got the real Ponzi-specialist, Madoff. /sarcasm

“It is impossible to introduce into society a greater change and a greater evil than this: the conversion of the law into an instrument of plunder.” - “The Law” Frederic Bastiat 1801-1850

(socialists covering their own tracks, alert!)

[driftdiver]

The big international banks are writing this bill. Folks like Jamie Dimon.

[driftdiver]

And I thought they went under because someone yanked a ton of money out all at once. ya know kinda like an act of war only on our economy.

Soros are you out there?

[driftdiver]

“Don’t you find it strange breaking news from Obama comes from overseas.”

they too will be assimilated

[Candor7]

Overhaul the banks.......?

Just enforce present Regs Obozo! Regs that were ignored in the feeding frenzy offered by Fannie Mae and Freddie Mac, largely through the machinations of Bawney Fwanks and some of your other A$$ Haole brothers, Obozo!

[kcvl]

What we need are regulations governing politicians. They’re out of control.

Absolutely!

[The Comedian]

discuss curtailing bankers' bonuses

Oh for F's sake.

This isn't even a *symptom* of the real problem.

Article 1, Section. 10. No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

First principals, you evil bastards.

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

[kcvl]

The very people who were instrumental in the collapse of the banking system are now the ones who want to “fix” it. This is just so preposterous.

Why of course, they want to 'fix' everything! Barney Frank just can't wait to 'fix' something else! /s

GET OUT OF OUR LIVES, YOU FREAKS!

[autumnraine]

What other leader in history moved fast and before the people understood what was going on, he had control of EVERYTHING?

[cranked]

White House overhaul first....

[Tzimisce]

Fascism on the rise.

[Jack Hammer]

Unfortunately, whenever the government gets involved in ANYTHING, it just screws things up worse than before.

[RC2]

I would guess there were more than one. Hitler and Stalin and Mao come to mind.

[NoObamaFightForConservatives]

World tyranny here we come...

It is a sad nightmare.

[Son House]

What we need are regulations governing politicians.

Low tax rates are a start

[NoObamaFightForConservatives]

It was news from overseas because he will be on the U.N. council now...

U.S. media only reports his dogs name and all about his wifes garden.

[blam]

"U.S. media only reports his dogs name and all about his wifes garden."

And...you know his wife hates you too.

[Ghost of Philip Marlowe]

Some banks do need some regulation.

Mark-to-Wish needs to be overturned.

There are plenty of other bad standards that legislation approved.

The problem is that the government likes those bad allowances.

The problem is that these “tricks” favor the mega-banks, whom the government has bailed out with our earnings.

I guarantee that Obammie the Commie will not propose the real banking and financial reforms that need to be implemented to save our economy from total collapse.

Rather, he would push for the “reform” that the Federal Reserve wants to put in place to further tighten their stranglehold on currency, banking, investment, and all other aspects of the economy.

[gop4lyf]

I seriously wonder how long it will be before a mainstream Democrat that is elected to a public office and not just some wingnut wacko publicly says that the Constitution isn’t relevant and that we should just have a new one, with all liberal “rights” of course. I honestly believe that it will not be too far into the future before that happens.

[FrankR]

So the juggling clown throws yet another ball into the air...gosh, which one do we watch first?

It's mostly a distraction to take the focus off healthcare...don't fall for it.

[the anti-liberal]

Dictionary:fas·cism

n.

1. often Fascism
   1. A system of government marked by centralization of authority under a dictator, stringent socioeconomic controls, suppression of the opposition through terror and censorship, and typically a policy of belligerent nationalism and racism.
   2. A political philosophy or movement based on or advocating such a system of government.
2. Oppressive, dictatorial control.

[Italian fascismo, from fascio, group, from Late Latin fascium, from Latin fascis, bundle.]

[barnicus]

That is somehow racist. /s

[MonicaG]

LOL, that was awesome!

[KTM rider]

You have got to be kidding me !

I can see it now.....

The Bank of Acorn comming soon to a community organized community near you

[the anti-liberal]

Actually, it will be called Bank of COI.

(ACORN changed their name to COI - Community Organizers International)

[Soothesayer9]

Its like watching Mohammed Atta waltz through the metal detectors on 9/11 at the airport..the guard completely oblivious to the fact he is about to murder 3000 people.

Or one of those scenes you hear about but rarely see..someone getting raped in some back alley and people not wanting to “get involved” by stepping out of their comfort zone.

I think some people need to be clear on what they mean when they say “stop him!”

[dr_who]

Sounds like he doesn’t even have the text of a bill to push, just like with Obamacare. Given how slowly congress works, it’s almost like he’s trying to overwhelm it. Keep the senate worried about bank reform crap about the time that the health care bill arrives, perhaps, increasing the chance that one will get rubber-stamped to make room for the other.

[BP2]

And all while Personal Savings is going UP - sharply!

Oooo - I bet they just LOVE to have that extra cash just sitting in their vaults. It makes it OH SO EASY once the Bank Holidays begin. They hold our money, they collect the interest, and we wait until the govt is kind and lets us have access to our money again.

I can hardly wait for Obama's "recommendations". I'm sure they'll favor the little guy - NOT his cronies or any political payback for the '08 election...

[NoObamaFightForConservatives]

Define a bank holiday exactly please.

[NoObamaFightForConservatives]

Poll

http://js.polls.yahoo.com/quiz/quiziframe.php?poll_id=46067

[concerned about politics]

The very people who were instrumental in the collapse of the banking system are now the ones who want to “fix” it.

That's how the Alinski cult does it. In order to create a socialist society, the one in existence has to be destroyed first. They overwhelm the systems and create chaos. That way, the socialists can come in as the saviors and rebuilt it in their own image.
Remember, this all started with the housing crash, i.e., Fanny Mae and Freddie Mack (democrat lead tax payer subsidized housing).

[stephenjohnbanker]

Looks like Bastiat was a visionary......