Closing Arguments: Too Much Regulation in Obama Plan?

WHen the Federal Reserve Bank and Congress were ALL part of the mortgage for nothing job crisis…why allow the Fed MORE power with a man who didn’t even pay his taxes? Can’t trust anyone in Washington…they’re ALL crooks! All of em!!!!

I thought we fought a revolution 232 years ago because our founding fathers got sick of government injecting itself in every part of their lives. The more freedom we give up to the government through “regulation” the more of our freedom they will take away. There are natural ebs and flows in business and economic cycles and if you try to “regulate” them, you’re setting up the whole system for collapse.

Obama was elected to protect our freedom. Instead, he’s trying to take control of everything. He’s probably a fraud–not even a natural born citizen. He needs to be stopped before he destroys the works and efforts of those he was elected to govern. He wasn’t elected to be a dictator. We have a constitution and need to adhere to it. Our president is making great progress on his promise to “remake this country,” to our detriment.

WE are over regulated as it is. The Federal Reserve is run by a man that didn’t pay his own taxes! And you want him to tell us what we can and can not do? Dream on! The government should back off!

It’s about time that irrational Financial Institutions & Stock Market Speculators sober up. Thank goodness for Obama!
Energy & Oil Speculation have bankrupt working American households & Small Businesses.
Hey Big Banks—that’s all there is—-sober up & get real—the average American is Broke—-
A little regulation is long overdue.

Regulation is Congress’ job, not the President’s. Does anyone read the Constitution anymore? There are good reasons why government works best that way. Read the Constitution. Read the Federalist Papers. Congress could have and should have reined in Fannie May; Freedie Mac; Bear Sterns, etc and they did not. Why didn’t they? Because the average Congressman is uneducated. They aren’t as interested in the welfare of the country as they are assuring their own re-election. They are uneducated boobs when it comes to economics. What should Obama do? Cut Taxes! Business men will do what businessmen do best …. they will jump on the opportunity to make money. They will start businesses and hire employees. Government needs to just stand back. Government caused this recession; why should we believe that they can fix it? Sure, they should have made laws that prohibited banks from gambling with depositor’s money. Bank presidents know what the differences are between investing and gambling. Many bankers belong in jail. Congress belongs in jail for not writing laws that made gambling with depositor’s money criminal.

Another huge agency is not needed… how much will that cost us taxpayers?
I understand regulation is needed, but do you really think it will control and monitor anything?
The people put in control can be just as corrupt and greedy as the banksters themselves… so I doubt all these czars and new huge agencies are really needed or necessary.
No bank or business should be too big to fail, period.

Yes, I think this is just another example of our government, paying twice for the same thing. We already have the SEC to oversee the financial market. They just did not do the job so fire them and hire people who will do the job.
I also would like to know why the mainstream media has not even began to look into the firing Gerald Walpin?

We citizens can only hope that the presidents proposals have been based on sound reforms, if we can trust his Chicago-Clinton cabinet on any given issue…their past track record has been anything but stellar. Congress gave the prime players in the financial crisis carte-blanche to work their Ponzi schemes and frauds…let us not forget, while the principles of the Federal Reserve stood by and silently watched. These are the institutions that need reform. Timothy Geitners nomination to the cabinet sent Obama’s message to the “good ol’ boy’s financial network”, that “Hey guy’s its going to be business as usual.”
Until Obama fixes the malfunctioning and broken parts of the government regulatory and legislative machine, any further empowerment of the Federal Reserve will only serve to create another “out of control bureaucracy”. Some deep thought needs to go into these actions before the president “fires” up his new machine. If you are going to have increased regulation, you need to have people in place capable of enforcing them, and with the wisdom to know when to do it!!!

As if the Federal Reserve System doesn’t have enough power already. Don’t forget your show guest came from the the Federal Reserve Bank, and he already has an incredible amount of authority that has been handed over to him with the office he now holds as the Treasury Secretary. I think this is a bit of redundancy which may possibly have significance with some future scenario to insure that the power he now holds remains with him and the President and that they don’t have to answer to anyone else.ch
Let’s Support HR 1207’s (to Audit The Fedreal Reserve System) identical companion bill in the Senate whi is known as S 604, the Federal Reserve Sunshine Act, sponsored by Sen. Bernie Sanders.

I think it’s fairly obvious that the federal reserve along with the federal government actually caused the housing bubble and subsequent financial crisis. I think it’s time to severely limit the power of the federal reserve if not eliminate it all together. While we’re at it, why don’t we also pass the fair tax bill and eliminate the IRS as well.

John and Jason I’m in total agreement with you…The federal reserve does need to be audited. Shake this one out and see how clean their hands are in this whole debacle!!!
America, call your congressman and voice your support for HR 1207 and S 604. let them know how you feel….In politics silence only begets silence..the squeaky wheel gets the grease !!!

PLEASE MORE RULES. so those people never think of doing it again.

The Federal Reserve has failed the United States of America. The fiat currency will destroy our society. When debts are demanded to be paid, many people will die and suffer from severe poverty or war as history repeats itself. The unilaterally increasing debt of the past 96 years is absolutely and undenyably unsustainable. Why should such failue be rewarded?
“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered”-Thomas Jefferson.
“The last hope of human liberty rests on us… If we find our government in all its branches rushing headlong, like our predecessors, into the arms of monarchy, if we find them violating our dearest rights, the trial by jury(USA Patriot Act), the freedom of the press, the freedom of opinion, civil or religious, or opening on our peace of mind or personal safety the sluices of terrorism(9/11,War on Terrorism, Afganistan,Iraq, Iran), if we see them raising standing armies(Homeland Security), when the absence of all other danger points to these as the sole objects on which they are employed, then indeed let us withdraw and call the nation to its tents.”-Thomas Jefferson

I thought Obama swore an oath to support and defend the Constitution. So far he has totaly ignored the Constitution to ensure his own power. He should be impeached for usurping that power, which is limited by the Constitution. Wake up America! Obama is stealing all of your rights and you are encouraging him to take more.

Yes, there is too much regulation. If Obama wants more regulation he should appoint every single citizen of this country a regulator of his or her own lives.

As a 75-year old Korean Conflict veteran and a voter in Wisconsin’s First Congressional District, I want to say that we need much more government control over big business, Wall Street, and other entities that function in these United States of America. I don’t care if some will call it Socialism. To Hell with them. Gerald , Waterford, Wisconsin.

Barrack Hussein Obama is ruining this country! What I want to know is whether he is doing it accidentally because he lacks experience as his only experience was from his short term as a junior senator, or whether he is doing it on purpose. His many shady connections with people like Bill Ayers of the Weathermen Underground who bombed the White House and the Pentagon, no regrets, who actually said that he didn’t feel like he did enough, the New Black Panther Party for Self-Defense who wielded weapons and blocked polls in Philadelphia, Pennsylvania, to his spiritual mentor Reverend Jerimiah Wright and the “white-hating”, “America-hating” church Trinity United Church of Christ (& Muhammed) , ACORN, Antoin “Tony” Rezko, his adoration for Malcolm X, who while in prison became a member of the Nation of Islam. Malcolm X stated on December 4, 1964, “God will take this entire continent away from white man. White America is doomed!” Is it any wonder why he nominated Sonia Sotomayer for Justice of the U.S. Supreme Court even though she stated at LEAST three (3) times over the course of a decade that “a wise Latina woman is capable of making better decisions than a white male”? I’m personally upset that Mr. Barrack Hussein Obama can nominate ANYONE for ANY court when he has court cases pending against him and his constitutional eligibility for office.
When our founding fathers started this country they wanted a very small government. Now the size of our government has grown out of control and the government is trying to control EVERY aspect of our lives and is trying to take away the freedoms given to us in the amendments in our U.S. Constitution.
America we need to get involved with our Congressmen (House & Senate members) or we are going to lose the America that our Founding Fathers created.
In the first 100 days in office Barrack Hussein Obama has managed to rack up more debt than all our previous presidents combined.

Regulation is essential in many aspects of our lives. We count on…
…food regulations to keep us healthy,
…drug regulations to ensure medicine cures rather than kills,
…toy safety regulations to prevent child injury,
…traffic regulations to make sure our roads do not become our graves.
Regulation is a burden that protects us all. While it might be fun to drive as drunk as you like as fast as you like in any direction you like without a single stop sign or traffic signal, it’s clearly unsafe. Saying, “But I’m an excellent driver; you can trust me!” is insufficient. A reckless financial industry is lots of fun, too. It goes real fast, makes a lot of money . . . and ends in a spectacular crash that kills the reckless driver, good drivers, and a whole bunch of pedestrians who never even learned to drive.
We must regulate the financial industry. Things will go a little slower with regulations in place, but they’ll be a whole lot safer for everyone. We can accept a little less speed if it means we all get there in one piece.

Yes! I think there should be MORE regulations on financial institutions, that’s my money and your money that bailed them out and I sure don’t trust those bone-heads after the financial mess they’ve put this country in for the past 8 ears. WHAT? Do they think we’re that stupid that we would turn a blind-eye and let them do it again? I DON’T THINK SO!

The Obama administration uses “systemic risk” as a buzz word when using the threat of crisis to inflict its will upon our nation. The “systemic risk” that caused the domino collapse of financial institutions then the housing and automotive follow-ons was the over-leveraged dollar. Basically over-leveraging means not enough real money in reserve to back the outstanding debt.
Unfortunately the US is now on a debt based economy from the government all the way down to the family level. When it comes to “systemic risk” and over-leveraging consider that there isn’t enough real money in existence to cover the cumulative public and private debt. So to a debt free household such as mine it would seem clear that the first course of action would be to reduce the debts (public and private). A clear way to reduce debt would be to reduce spending and begin using income to pay down the debt (Larry Burkett, Bill Gather and others used this approach in their family counseling).
The national debt is currently,estimated at, $11,226,807,380,955 and not one elected official has offered a plan to mitigate it. The president and the current congress, instead, continue to drive the debt upward. Every time I read the paper I see where my representative is involved with pulling more “pork” money into WNC.
I have asked more than one new congress to address the national debt, and to begin with cancelling their pay raises and even rolling back their excessive pay. To the person the response (if any) has been one of “feigned” helplessness as if such a task is beyond them. Now let me ask a simple question, IF THIS IS BEYOND THEIR CAPABILITY WHY DO WE ELECT THEM? How can we ever expect them to work on the big issue of the national debt and the “systemic risk” it presents if they are unwilling to begin at their own level? This even when we are all having to tighten our belts!