Posted on 09/20/2009 1:46:42 AM PDT by Son House
Obama noted several steps have been taken to spur the U.S. economy, pointing to the stimulus package, efforts to unlock frozen credit markets and free more loans for people investing in homes, cars, education or financing small businesses. And he said other nations have been challenged to address underlying problems that caused a deep global recession.
But Obama said his administration knows that "stopping the bleeding isn't nearly enough. We know we still have a lot to do here at home to build an economy that is producing good jobs for all those who are looking for work today.
"And we know we still have a lot to do, in conjunction with nations around the world, to strengthen the rules governing financial markets and ensure that we never again find ourselves in the precarious situation we found ourselves in just one year ago."
He said it's essential that the U.S. government update the rules governing financial firms and markets.
"At next week's G-20 summit, we'll discuss some of the steps that are required to safeguard our global financial system and close gaps in regulation around the world -- gaps that permitted the kinds of reckless risk-taking and irresponsibility that led to the crisis," he said.
He said another important step for the U.S. is establishment of a consumer protection agency that would be intended to protect people from signing up for mortgages they can't afford and contracts they can't understand.
Lobbyists for big financial institutions are working to stop these changes, said Obama
"We cannot let the narrow interests of a few come before the interests of all of us," he said. "We cannot forget how close we came to the brink, and perpetuate the broken system and breakdown of responsibility that made it possible."
(Excerpt) Read more at foxnews.com ...
Clearly, Obama is too stupid to comprehend why the Soviet experiment in controlled economics failed. It will therefore be up to his successor - whoever that may be - to rein in restrictions on business, lower taxes, and create an economic climate favorable to business.
Obama, being a Marxist, simply cannot comprehend why it’s necessary to remove restrictions on society’s entrepreneurs and corporations in order to stimulate the economy and get things moving again.
It’s looking very much as if Obama will be a one-term president, and will make a place for himself in history as one of the worst presidents ever - possibly THE worst. Certainly, to date he has achieved absolutely nothing of note, while arguably screwing things up so badly that it will take years - even decades - to unscrew them. And that’s assuming we can replace him and his idiot Democrats with intelligent men and women of probity and integrity; in Washington, such people are as scarce as hen’s teeth.
Once he’s out of office, he - like another epic failure, Jimmy Carter - will spend all his time preaching to the Marxist choir about why Collectivization is “the only way to go” and what a great misfortune it has been for history that he wasn’t allowed to remake the nation in his own image.
At least, we must hope that history characterizes him as such; if he is allowed to remake the nation as he chooses, then there is very little hope that the mess will be cleaned up in our lifetimes.
Zer0 is doing exactly what he planned.
Get over the notion that he wants to empower
America. He is a socialist revolutionary seeking to keep us in a constant case of chaos.
Alinsky would be proud of his pupil.
As long as people make decisions by going with the flow, rather than personal accountability, this will always happen.
Existing real estate and loan Bilateral Contracts are sufficiently clear for the obligations being entered into, but are fraudulently made by unilateral verbal thinking they really don't matter. The fraud works on both sides by those willing to make the terms and conditions without thinking the consequences really matter, and by those who accept the terms without thinking they will be held accountable.
I agree with you; not sure where I stated or implied any belief that he wants to ‘empower’ America. It’s clear he wants only to promote a socialist agenda.
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