President Obama Pushes for Financial Reform

[AndyEC1212]

I love how he laid the bail outs on us like he didn't pass that bill 3 times and triple the amount. you people are fools for following this Uncle Tom puppet . VIVA LA REVOLUTION!

[AndyEC1212]

another agency and a new law that will prevent new business and reduce the job market. Don't get me wrong predator lending is wrong. but there are to many law enforcement agencies. This is opening the door welcome to Communism. The Government owns you now all of you. They went from being our Representatives. To our Leaders our Rulers. The system isn't perfect. But your money and life are better off in your hands not The Governments. All Hail Comrade Obama. FIGHT THE POWER!!

[judyleasugar97]

Reverse the ruling that corporations have the rights of individuals!

[PCEntertainment]

People forget that Goldman Sachs and Citicorp and other funded Obama and Obama sold out to them and approved more bailouts.

So you see, Obama is a sell out

Dont listen to the hope lies.

Hope lies with the man who holds the $ and that is the Federal Reserve.

Let's not forget that it was the Democrats in the 90s that created this mortgage fiasco and the Repubs who continued it and Obama still has not resolved it but sold out to them for the election. That is not personal statements but mere fact.

[TomThumbsFables]

White folk like to take advantage of black folk!!!!

[Boomer1949]

Not only do the laws have to be enacted to protect the consumer against these loan sharks but more education needs to be available to help people understand how to read a contract and understand the terms and conditions.

[stevenabb]

Boomer1949- Do you really think they lobbyist whores will protect you? The government is proposing "more regulators" to keep an eye on companies. There is NO LOBBYIST LAWS that will protect people from these companies. People need to learn to save. If you want something, save for it. If anyone is dumb enough to sign a sucker contract, that person needs to get burned. Only you will protect yourself.

[Boomer1949]

@stevenabb

Who said anything about lobbyist? Why do the lobbist have to be involved in creating a consumer protection agency?

[dirtypeanut1]

PATRICIA NELSON IS MY AUNT!!!!!!!!!!

[bass109]

obama was choosen by god to be president and create world peace for entire world

[elconquistador3000]

Woohoo! I love politics! Its all about playing the blame game. And guess what? Nothing (i repeat) Nothing gets done, only more blame and more criticism. WOOHOO! lets all strive to get nothing done and let the economy go further south. lets get in the game people!

[Boomer1949]

No one is playing games here. A new law has already been passed and signed by Obama around the abuses of the Credit Card industry. ( H.R. 627). No more arbitrary rate hikes, credit reduction, double billing cycles, etc. Terms and interest rates all spelled out in big type, no "fine print". This is just one example of what is going on in Washington as I type.

[elconquistador3000]

Well then, explain the tax situation that Obama plans to enforce with the health bill. apparently we will pay taxes until they start it later. Is this what you mean by whats going on in washington?

[Boomer1949]

After watching the mark up on the Bacus bill, (H.R. 3200 doesn't have a tax clause) I gather it applies to policies that include coverage for everything, vision, dental, elective surgery etc. This is not something that is very popular and there is a strong chance it will not be included in the final bill.

[elconquistador3000]

I hope thats the case then. I'm tired of politics as it is. Too many problems with each side sparring each other 24/7

[Boomer1949]

Another reason I believe this part of the Bacus bill won't be included is that it would effect the policies that are offered Representatives, Unions and State workers.

[TomThumbsFables]

Oh, I feel so bad for that lady at the beginning of this vid!!  Please, Obama, hurry and fix the mess the republicans have made.

[dirtypeanut1]

THAT'S MY AUNT!!!

[SLKclan]

ahahahahaha obama... what a joke

[greggymcgurks]

Find it interesting Republicans come on here posting how crazy this is, but in no way can explain why they don't like this and why it won't even help them.

[catbatbomb]

"because it's more spending!!!" lol, that's your answer, heaven forbid we buy a helmet before riding a bike, or purchase an alarm system for our homes, or anything else which might be smart preemptive spending like fixing healthcare... or helping others get out of debt which puts a strain on our agencies....

[stanjz]

Yeah, and 9.3 trillion out of our 11 trillion dollar debt came under Republican Administrations. The value of the dollar declined for 8 years under George Bush too. The worst attack on U.S. soil in our nations history came on the Republican's watch. They ran the Presidency, Congress and the Supreme Court all at the same time, but did nothing on abortion. Now they're trying to edit all the so called liberal verses out of the Bible. They're perverse and sick people. All they care about is profits

[GadsdenWaver]

this is insane. were in trouble folks

[greggymcgurks]

Could you please explain in detail why what President Obama said in this video is insane? I just want to get a good idea why you don't like it with clear points about why you believe it's so bad.

[GadsdenWaver]

1)there is no greater predator to the people than the federal government. 2) the setup of the speech was a woman taking a loan she couldnt pay back, so I guess the loaner should have just taken a loss. 3) Obama was part of the promotion of low income loans to folks who couldnt make payments, triggering thethe bursting of housing bubble.

[stanjz]

Big business needs to stay out of our lives. Health insurance companies, credit card companies and mortgage companies have bankrupted millions of Americans.

[MrTabby5000]

Only because wages decreased.

[bishopm5]

The government needs to stay out of our lives!

[politicalfarce]

I don't need the government to help. I am perfectly happy to be used like a slave by big business.

They own me, and I'm their slave. But I don't want to change that, because Reagan said that Government is the problem, and I still believe that even though that idea is 20 years out of date.

I don't want to think. I'm just happy being a slave of my corporate masters.

[MrTabby5000]

reagan as we see was the problem,he said it himself.

[1penydragon]

I have to laugh at this.

The government is a joke by this point. Of course he gets some old African American woman to make everyone feel guilty. Barrack Obama has told too many lies to count.

[stanjz]

Your business master poison everything including: the air, water, food, medicine and anything they can get their filthy hands on. They've made a killing on the backs of hard working Americans.

[MrTabby5000]

And john mccain never told a lie?

[TheIronTroll]

YES!

[whynotflip]

how do you implement financial reform? by spending?  HA HA HA! What a joke.

[RebelRouserMC]

What a sick joke,this president is.He shoulda got an Oscar for best actor,but not the nobel,he damn sure doesnt promote peace,and damn sure doesnt care about the US,if he did he wouldnt be expanding all of george bush's policies.and using american citizens an guinea pigs,to test the H1N1 poison.

Revolution is the only solution !

[jeffmagic32]

I would feel more protected if the government didn't take half our money.

[cknight63]

A corrupt government looking out for dumb Americans bilked by a preditory financial system. What ever happened to morals and accountability (and intelligence)?

[groundhog2008]

To me, Obama is the greatest man that has ever walked the earth!!!! I do hope that this wonderful president can take control of the whole financial institutions in this country!!!! Most Americans agree that strict government control is needed!! The lady at the beginning is just one of many Black folk that the white rich have taken advantage of!! Please, President Obama, fix this!!!!

[matello18]

lol your a retard. you want to give more power and control to the very banks that created this whole financial meltdown and walked away un punished. The FEDERAL RESERVE is a private run for profit bank that caused the depression that is upon us and OBAMA wants to give MORE control to this private bank that has blood on its hands!!! waake up sheeple the banks lobby our gov't with billions and it is their interests that are served not OURS!!!! obama is a puppet just like bush.

[mortech100]

some say well if we had Jobs that would fix everything. but it wont and yall know it. my dad was the only one who worked in my family wen i was growing up he earned 9.50 an hour and we had a 5 bedroom home and 2 cars. me and my wife both working for a banking institution cant do anything in are lives but work full time to keep food on the table. my daughter has a job now she bought most of her own school cloths this year stop the greed in are country its killing us all

[mortech100]

im usally on your side obama but yall need to change this stuff for REAL.. the credit card bill u passed was a JOKE a total JOKE.. put a CAP on intrest for the whole country like Prime + 12% or something this 32% intrest +++ is greed plan and simple. Its the Greed that is tearing down this counry and that same Greed will b the end of this country and that is the truth everyone 25+ can see how there parients lived and now how they live at this ratio well half to have 5 kids and get them to work

[ABoy877]

best president since kennedy they might even smoke em 2 go obama

[freeqwerqwer]

The Nobel committee didn't reward Ghandi the Nobel Peace prize even he got rid of Colonialism w/o violence nor did they gave it to Reagan who ended the Cold War........................but they did give it to Obama who accomplished nothing yet.

[alex30085]

how many things you can do overnight in washington? nada. The important thing is that the bills are in congress and most importantly obama did not escalate the war in iraq and DID NOT invade iran as mc cain was planning to. His victory lies at present on what he has not done if u ask me not on what he has done.

[RebelRouserMC]

He did these things overnight,expanded iraq and afghan wars, bombing pakistan,stole 24 trillion dollars, took over GM,expanded the patriot act,expanded warentless wiretapping,giving 30 million illeagle aliens nationalization, if you cant see through this wall street puppet,then you are fukn blind!!!!

[TerryEFV2]

know of what you speak, he was about to be awarded but died and they can`t award posthumouly

[exChristian666]

Before conservatives took power in 2000, the country was in pretty, Conservatives have destroyed this country for their own self interest.

[thomas242007]

haha at about 552 sounds like what hes doing mr about to put us 895milioin dollars more in the hole bush started it obama though is going to finish it, Impeach him now!

[zzx2847]

Whenever government screws up because of its acts, government rallies to seize yet more control to screw us over.

[MeLikeGoFast]

Why push financial reform when it was fannie, freddie, and the democrats who caused this mess?

They should push government reform.

Silly little liberals.

[bigmedge]

Financial reform is crucial, & Obama's proposals so far are a home run. On a separate note, this stupid broad can't read even tho she's around 60 or 70

[DVdaniels]

If the White House does not get Financial Reforms passed, we ALL stand to lose. Every person who "comments" on youtube against reform is asking for the country to continue down it's path towards financial ruin. United we stand. Divided we will fall.

[exChristian666]

Probably they are short sellers and want to take advantage of crumbling economy.

[09090985]

obama the greatest president in his own mind and getting a prize for doing nothing

[thomas242007]

yeah for real we need to impeach this guy now

[exChristian666]

09090985

Nobel prize is not for Obama, Its just anti-Bush prize.

[stanjz]

I'm not on welfare, you dad blame galoot! All you can do is truck out all the same tired arguments. Small businesses are for reform. They're getting killed by health care costs. 78% of medical bankruptcies are from people WITH insurance.

[OuterDrake7000]

i have to admit. The white house is good at one thing.....

Making HQ youtube videos!

[73to79ford]

Why did you reappoint Ben Bernanke? Stop with the spending schemes. People who took on too much debt must default. Do NOT inflate the US debt away and destroy the savings of the few who actually save.

[tries2getitright]

Americans should be taught about all this stuff in school, bu then, we probably are, economics. We need to make it cool to know these things. Miley could mention it on her show!

[Casanuda]

Shouldn't we push for education reform instead so people aren't so goddamn stupid?

[IndyChris66]

I agree that most of us Americans are stupid. But your argument is that if I am not smart then it is ok to rob me! We need to do both educate and reform the banking industry. Everyone keeps forgetting that we could have had twice as many people fail to pay their mortgage and NOT be in this mess had the banks not leveraged the loans 30 to 1. So who needs to be educated? The bank CEO's did not have a clue of what was going on. They just loved the bottom line.

[Casanuda]

Actually that's a logical fallacy there called a Straw Man. If you are intelligent you will question offered money and I said there is a problem with education, which implies that most people are stupid.

If these banks knew how to properly screw people out of their money we might have a working economy.

[kureshin80]

NO We can!!

[Thebeautiful11]

Obama's really trying for us regular people. That's why he's so hated.

[cknight63]

Why don't you arrest those responsible for trashing our economy and bail out the consumer? Instead, you reward those responsible for this fiasco by bailing them out at the expense of the consumer.

[CaptainFaisal]

wonderful job Mr. President!

[dejahthoris]

If you are illiterate, could you please refrain from commenting on whitehouse videos? You are embarrassing our Nation before the world. Thanks!

[shad0fx]

The economic reform "needs to happen" because the cash for clunkers program didn't do squatt for our economy, helped japan and korean economy well, especially since most of the cars bought with the 4500 were kias, hyundais, bmws, hondas, and lexus... how about lowering taxes & creating jobs for people so that they can afford to get those loans paid off on time. now he won a nobel prize. for what? he hasn't done a dang thing to boost the economy. he's hindered it & made the next generation suffer

[danceatlantis]

With hockey mom Palin and cancer survivor McCain we most likely would have been in a depression by now and in war with Iran.

So yes, Obama has done many good things for the US and the world's economy so far.

[sebasitsme]

What can I say, Obama doing another good thing.

[cknight63]

Yes he is. He's growing government even more by creating a new government agency. Woo hoo!!

[pongman]

It's strange that the police will shoot to kill a guy who holds up a store for two hundred dollars yet they wont shoot to kill a Wall St. banker for stealing hundreds of billions of dollars. WTF!

[maskedphrogg]

How is this noteworthy?

Some woman took out a loan she KNEW she could not pay back when due, the terms of which are CLEARLY STATED in the contract she signed, and now wants the President to protect her from herself.

If this is a testament to anything it is a testament to lack of quality in a government managed public education.

[bugilt]

It wasn't about the fact that she made a mistake. It was about what they did after she missed the payment. Not everyone can predict the future.

[maskedphrogg]

What they did after the missed payment was DOCUMENTED in the contract she signed.

This IS about the mistake SHE made.

And it is not noteworthy that someone got caught up in the terms of a contract they didn't bother to read in the first place. If she did read it by what manner of fantasy income did she think she could abide by it's terms?

No one coerced her to accept these terms. She do so knowingly and voluntarily.

In this case we CAN predict the future. She did know her income at the time.

[bugilt]

The end result is still the same no matter how you look at it.

They still shouldn't make her pay $100/mo for the rest of her life.

[maskedphrogg]

How did you become privy to the details of her loan contract?

If she would stop paying she would default and a Civil Court could be brought in by the lender. Then the Court would decide a reasonable restitution. This "problem" could have been resolved more than a year ago.

[bugilt]

I was just going off what she said in the video. So send her to court for a $500 problem and spend $5000 of tax payer money?

[maskedphrogg]

She didn't mention "for the rest of her life."

What she said, and I did review the clip as I wanted to get what details were included so as not to speak from ignorance, is that she spent some $2700 over 22mo. Apparently she did the "right thing" if not the least costly thing.

btw there are filing fees, which are recoverable to the plaintiff, in civil courts. Your just making up stuff in hopes of supporting your opinion. There are costs involved in having a Court whether cases are heard or not.

[bugilt]

She paid $2700 which all went to interest. She was on the path to paying for the rest of her life.

I just don't see how you think that isn't a problem.

Courts don't cost as much when cases aren't being heard.

[maskedphrogg]

Really? I missed the part where anyone says the case goes unresolved to the present.

Oh...you are only trying to misdirect from the fact that all we saw was Pres Obama exploit the emotional appeal of this sad woman to forward a program of federal control over private business. For all we know her case has not been resolved there simply isn't enough info avail to make a reasonable conclusion.

I make my statements in regard to what we do know from what was said at this presentation.

[bugilt]

I didn't say it was unresolved. I said it could go unresolved. You accuse me of stretching the facts then you say "Pres Obama exploit the emotional appeal of this sad woman to forward a program of federal control over private business."

I agree that it isn't the best way to expose problems. I also agree that we don't need more laws to govern small businesses. I think the answer would be to make contracts easier to read and understand for the average person. I have more to say. Char count 0left

[maskedphrogg]

yep, trouble posting here too.

I took exception with the phrasing "on her way to paying for the rest of her life"

At best that is exaggeration.

I too think we have plenty of Business Law, and it's more than enough intrusion.

However, framing legislation to "protect us from ourselves" is very unnerving. Not to demonize the victim here, but how much risk will gov allow us to take if we give gov the authority to manage our risk for us? That is a slippery slope I'm do not want to travel willingly.

[larskbragdon]

sucksssss (look at the comment before mine he forgot to put it ;))

[whitetailhunta]

OOOOOOOOOBBBBBBAAAMMMMAAA!!!!

[NewAmericaNow]

END THE FED MR PRESIDENT ITS KILLING US

[NewAmericaNow]

Why did it take so long to protect the consumer. Those very Senetors sitting in that room should be held responsible for not protecting the consumer. According to the laws of risk vs benefit those people that got loans that could not repay should never have gotten a loan to begin with. Banks should not be allowed to privitize gains and socialize losses. If you make bad decisions you should pay the price leke everyone else.

[pokeyugi13]

finally obama getting some balls to fight the red neckds

[Voltegasproductions]

REDNECK TIME!

NOw you listen here son ya hear me ima go get mah 12 gauge and shoot u boy if u dun get off my prloperty ya hear son ya hear u best run now or ima shoot yo head off me in my ford truck run u down till u aint nothing but roadkill then billybobbillybobobobilly bo bob will fix u up hea sick his dogs on u now u better start runnin ya hear son boy or u aint no gonna see not none more no yes

XD

[seanjared97]

dude, u just made my dad big time, ty

[TrollBuster9090]

Foghorn Leghorn, is that you?

[Voltegasproductions]

who

[dejahthoris]

who ya gonna call ?

[wafflethug]

Hmm, she got a 1 month loan in which she knew she couldn't pay back in 1 month.

[wowhornby]

CONGRATULATIONS!!! What an honor. Finally intelligence and hard work are rewarded. Finally those values are highlighted in the highest office by our president. Thank you Mr. Obama!

[BeantownJim]

Affirmative Action Nobel Peace Prize??? hahahaha

[TrollBuster9090]

Yes, it's affirmative action, but not in the way you think.

An affirmative action quota is when the Nobel Committee lowers its standards to give the Peace Prize to an American leader for NOT showing utter contempt for peace, contempt for diplomacy and the United Nations, contempt for international cooperation, and for NOT attacking countries under false pretenses.

Yeah, that's affirmative action, but the joke is on US, not Obama.

[asdfghjkl418]

I love you Barrack Obama!

[stanjz]

I'm a white guy and I'm going to work twice as hard to make sure racists in the Republican Party never get back in power.

[xkoopa007x]

excellent comment.

[dmdum]

guess being on welfare give you to much free time on your had.

[josealonsoleon]

Moron

[xkoopa007x]

racist cunt

[danceatlantis]

Is that your real name?

[pokeyugi13]

racist bastard

[dejahthoris]

Not being censored are you? God bless America and the President!

[BabybooR33]

no new world order!!!

[fsrafols]

you are way late my friend...

[1tofallen]

more like brave new worlrd, so shit the fuck up BabybooR33.

[BabybooR33]

have fun deluding yourself...

[1tofallen]

have fun being blend into food for the master race babybooR33.

[BabybooR33]

your choice...

[1walicki]

Our choice 1 person 1 vote .. now do the math!

[Friendo1231]

Damn the 1-star'rs.