Obama: I Will "Do Everything I Can" To Stop Banks From Killing Safety Agency

Bloomberg:

President Barack Obama said job losses are "bottoming out" and the U.S. economy looks to be growing again even as he warned against cutting off government aid "so soon that the recovery doesn't take flight. [...]

He vowed "to do everything I can" to fight banking industry efforts to kill his proposal for a financial products safety agency and stuck by his call to make the Federal Reserve responsible for ensuring the stability of the overall system.

Read the whole story: Bloomberg

Comments

[politkal kos]

Our future has been spent. The bail out is like throwing water on a electrical fire. It will be a miracle if in 10 years if "real" unemployment falls below 10%. The middle class will be joining the ranks of the impoverished. If you have ever been to europe this is what our society will become. Some may like this others not. Our steady decline over the last 30 years from a great nation to a begger nation could have been avoided but greed triumphed over the public good .

hat tip to http://www.iamned.com good articles

The nation as a whole has changed morally and ethically for the worse and we are reaping what we have all sowed..

[deerme]

Obambi is now part of the problem

[jojony]

Based on his performance to date. does anyone honestly believe he will get this done before the lobbyists, etc., vet the bill.

How does going on Letterman help here? Can someone tell me? Why?

[NC4Obama]

He is trying to reach out to as much people as he can, going on letterman means he can reach people who he might not reach otherwise. Its not that hard to understand.

[clearwaterclearmind]

yeah, it is hard to understand. he's a democrat president presiding over a democrat controlled congress. he's just going out their to try and be charismatic so we won't notice his corporate masters hand fishing through the cookie jar. if he wanted to "Do Everything I Can To Stop Banks From Killing Safety Agency", he'd get a campaign and lobby reform bill started to keep corporate money out of the elections and legislation process.

[Gretel1or2]

This thread is an Obama hatefest. When you have posters alluding to conspiracy theories about the President hiding something and no one but me has called out that person, then I question the legitimacy of the dissatisfaction of the posters here.

[clearwaterclearmind]

maybe he shouldn't have laughed at me for wanting marijuana law reform. maybe he shouldn't have told my sister she could not marry her partner or referred to her desired homosexual marriage as being akin to an uncle marrying his niece. maybe he shouldn't be pushing for a continuation of the patriot act. maybe he shouldn't be accepting millions of dollars from the industries he swore to protect us from. maybe...

maybe he should try keeping a few promises.

[AngelaQuattrano]

"I will do everything I can do..."

Wow, kiss of death.

[Peter007]

All investments should be rated ,,,,like red , blue, yellow. or better still, all investments should be rated AAA or AA or BBB so we can see how risky they are. The government should only allow certain rating agencies to rate these instruments because too many rating companies could be confusing.

[Sundialsvc4]

Granted... but there's more.

We have plainly seen that the credit-ratings system can, and has been, "gamed" to the advantage of "an ignorant few" who imagine themselves to be "a privileged few."

A multi-trillion dollar sack of worthless garbage can get an "AAA+" rating from Moody's for the right price. And, in time, it will be shown to be worth less than the binary bits it was printed on.

First, and foremost, we must acknowledge that we have all been (and, we continue to be) the victims of horrific and deliberate financial crime. Securities fraud, usury, swindling, extortion ... and ... bribery.

(Bribery. The "other high crime" listed by-name in the Constitution, alongside "treason.")

Until we, as a People, CALL IT "crime" and CONFRONT IT as "crime," we have absolutely nothing but vicious, truly sociopathic, lies.

And "we, the people of the planet," truly do deserve more... don't you think?

"I'm a Plaintiff, and I've had enough. How about you?"

[Sundialsvc4]

Last comment...

"We cannot do business with a criminal. And, we NEED TO 'do business!' " As a nation, as a world, as individuals, our very survival depends on it. (And we desire much, much more from Life than merely survival.)

We, as a nation and as a world, have suffered through the consequences of Bribery, Usury, Swindling, and Fraud quite long enough. Just as our forefathers did, even thousands of years ago, but with an evil twist ... our economy is global, and apparently, so is crime.

We HAVE TO confront these crimes, and these High Crimes, in a decisive and meaningful way. Not just for our own survival (in our prime and in our old age), but for all the other things that we sensibly and earnestly desire of our "threescore years and ten..."

Is that "too much to ask?" No.

[wanked]

Everything you can.....doesnt that just fill me with extreme confidence.

[Gretel1or2]

What have YOU been doing to increase your confidence? How confident were you in previous presidents, particularly those who created this financial mess?

[thestargazer]

Another regulatory agency to watch that agency that watches the agency watching that other agency.

I get it....this is the new plan to improve those jobless figures!

Soon, if you do not work for the govt. you won't work at all!

[Chironomid]

Yeah, right (insert dismissive hand wave here...).

[Kassandra]

Get ready...things are gonna get alot worse

[Gretel1or2]

And what are you doing about it?

[graphicnovel]

Uh-this is the same argument that makes no sense-(The argument that more medicare will fix medicare)
Is Obama going to bring back red-lining? Is he going to remove the quota system that makes banks make a percentage of their loans be to the "disadvantaged". Are banks no longer going to be forced to give out bad loans? Well, this is good news. Oh, wait, he's not going to do any of those things-those things that brought the banks down. Nah-he's going to make some more non-business legislation for the banks to follow, and then blame then when they fail again.

[RomeoMD25]

Typical Obama deception his actions do not match his words
just look at the people he appointed - the most radical wall street administration ever!!

This is simply another smoke screen for the fact that the Democratic party is but one arm of the two party/same corporate master system of government.
We need to face the fact that Democrats aren't there to do the will of the people,
but rather the will of their corporate masters. Thus, despite having unprecedented power, little if anything of true substance is going to be achieved.

[ThatOne4Me]

You won't corral your biggest donors, stop telling stories O.

[lordjin]

It does appear that it is getting safer and safer to flame the president.

Why, I haven't been personally attacked and insulted by Obamatons in many a post now.

[doublels]

Well, here, let me help you on not being insulted...I think you entirely rude & ignorant for referring to me OR anyone on this site who likes Obama, as an "obamatoms''. Go find you own right site.

[Gretel1or2]

Well, you spoke too fast. Don't get carried away. I know you are feeling vindicated by people like Wilson, 9/12 tea party participants, the Christian Pastor and such, but there are many people who can see thru the hypocrisy of people like you, who sat by idly for 8 years, but after 8 months you are having "trust" issues with someone who is genuinely interested in improving the lives of many Americans.

[synic]

Suuuuure you will. The routine seems to be set. Every time the President speaks there's always an asterisk involved.

"I will do (blank).*"

*Unless it upsets in any small way Republicans, Wall Street, corporations, lobbyists, Glenn Beck, the insurance industry, the Pentagon, Blue Dog Democrats (like Republicans but less filling), bankers, etc. etc. etc...blah, blah, blah, bipartisan.