Jun 17, 2009 11:02am
President Obama’s Push for New Regulatory Powers
EmailIn a move already spurring controversy and criticism, President Barack Obama today will propose the biggest financial regulatory overhaul since the Great Depression, recommending new executive powers and a new government regulatory agency.
“The goal is to integrate the system, make sure that there are not any gaps, and to make sure that we have an updating of the regulatory system that worked back in the 1930s, but doesn’t work with the kinds of financial instruments and the kinds of global capital markets that exist today,” the president said in an interview with Bloomberg News’ Al Hunt. “And we’re confident that we’ve struck the right balance.”
We took a deeper look at the new push HERE.
– jpt
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“… recommending new executive powers and a new government regulatory agency.
I don’t know about you, but more executive powers (Presidential power) and a new regulatory agency (big government) sends tingles down my leg.
Can we get three cheers for bigger government?
Posted by: KR | June 17, 2009, 11:05 am 11:05 am
Ron Paul was the counter to Obama.
Ron Paul – fiscal responsibility, personal responsibility, rule of law, small less-intrusive government.
Obama – the opposite.
Even warmongering perpetuates big government republicans.
Americans made their choice now suffer the consequences. Americans have been making dumb choices for years. Look at what we eat for crying out loud.
Posted by: Huh | June 17, 2009, 11:36 am 11:36 am
Ah, thats great. Lets give one of the most corrupt and unregulated “private corporation” as much power as they want. The FED is what caused many of the financial issues we have today, but now we expect them to save us? Get real people!! But, soon enough the day will come that our government will collapse, and us with brains can start it over while you stupid “give me everything” little winers can starve to death.
Posted by: Greg C | June 17, 2009, 11:50 am 11:50 am
Serious crisis, manufactured crisis, orchestrated crisis, crisis, crisis, crisis.
As Rahm said, “You never let a serious crisis go to waste. And what I mean by that it’s an opportunity to do things you think you could not do before.”
I think “would” should replace “could” in this quote. the American public is numb to all the crisis and have rolled over. It is going to be a long time until we get back up and stand on our own two feet again.
Ron Paul isn’t looking so crazy anymore.
Posted by: WhereWasThePress? | June 17, 2009, 11:54 am 11:54 am
It seems to be a reasonable starting point. I have been impressed enough with the FDIC’s consistent and steady handling of banking failures, year in and year out over the decades, to appreciate the rationale of expanding that kind of program.
I wonder if Republicans will actually provide some constructive critism of the planned changes, or just stomp their feet and shout “NO! Everything is just fine exactly the way it is!” And then go on to criticize the bailouts this reform is intended to prevent in future…
Posted by: jhw539 | June 17, 2009, 12:01 pm 12:01 pm
Sheesh… it would be better if it was acknowledged that the government’s obsessive promotion of homeownership contributed more to the crisis than a lack of regulation did.
Expand executive power? After all of the abuses of bankruptcy laws, and etc.? Looks like our Republic is going the way of the Roman Empire… why not crown him Caesar while they are at it?
Posted by: Ordinary Sadie | June 17, 2009, 12:15 pm 12:15 pm
The takeover is here!!
The takeover is NOW!!
I foresee the commoners rising up soon and taking back our out of control and unheeding corrupt government!!
Posted by: American Infidel | June 17, 2009, 12:15 pm 12:15 pm
I, for one, would like to see how some of the irons he already has in the fire come out before he starts on another big endeavor.
We need some time to judge whether his ideas so far have been *good ones*.
Posted by: MayBee | June 17, 2009, 1:08 pm 1:08 pm
Don’t worry: President Stutters McSpendyPants reassures us that spending $4 TRILLION over the next ten years for Socialized Medicine won’t add to the deficit. Oh, and deficits keep him up at night.
Posted by: carl | June 17, 2009, 1:20 pm 1:20 pm
“I wonder if Republicans will actually provide some constructive critism of the planned changes.”
While I am not a Republican, I lean Liberatarian/Independent, let me say that I don’t believe that more government is the solution to all problems and difficulties. It is hard/impossible to provide you with ideas for better government intervention when I believe NO intervention is necessary in most situations.
Fix my interstate roads, fund my military and get out of the way. Private charity, private and public businesses, local schools and services and honest public discourse can solve more problems than government.
Posted by: WhereWasThePress? | June 17, 2009, 1:41 pm 1:41 pm
“Can we get three cheers for bigger government?
”
well, heres one that the administration is wearing out…..
Gimme a ‘C’
Gimme a ‘R’
Gimme a ‘I’
Gimme a ‘S’
Gimme a ‘I’
Gimme a ‘S’
What’s that spell???……Our Way !!!!!
Posted by: Mike_C | June 17, 2009, 2:10 pm 2:10 pm
It sounds like the most of you would like revert back to status quo. How we soon forget that it was the prior administration that got us into this situation. I’ll take my chances on Obama shaking things up a bit.
Posted by: PhilG | June 17, 2009, 2:49 pm 2:49 pm
Obama does not believe in separation of powers as the government was intended in the constitution.
The constitution foresaw some power hungry megalomaniac abusing his power.
Well here we have Obama who is methodically erasing the separation of power and giving all power to the executive branch.
This is the danger of an autocrat or a dictator that our founders wanted to avoid, and in Obama we have a power hungry, self-serving, corrupt Chicago thug, who has taken over industry after industry, bankrupted the “little people” while paying his supporters such as unions and Acorn billions and billions.
This is the most frightening and pivotal period in our history. Even the watchdogs, the media are lying down for this dictator.
It is inexplicable. If people do not increase their opposition to this Obama thug they will look back and wish they had, but it will be too little too late.
Obama intends to rule and has an agenda of making the US pay for all the ills he perceives we are guilty of.
Hence, his apology tour, his funneling of billions of dollars to the International monetary fund, and hundreds of millions to euro banks laundered through AIG, not to mention the money laundered through GM to prop up audio companies that supported Obama.
IN addition Obama is attempting to permanently hobble our economy with his pork barrel historic spending, quadrupling of the total cumulative deficit in a period of months, taking steps that in spite of his rhetoric actually increase unemployment and cuts in the military that will go un-noticed an unreported. For example as Ahmandinejad continues his pursuit of nuclear weapons, (as admitted by the UN inspector El Baradai), Obama refuses to fund missile defense in that region.
Obama is systematically dismantling this country in a manner no different than in a hostile takeover.
This is nauseating in the extreme and I for one cannot sleep at night with this corrupt thug in the whitehouse.
Posted by: MNM | June 17, 2009, 3:56 pm 3:56 pm