President Obama's Plan for Financial Regulatory Reform

[cornpapa]

This isn't anything from the real white house. Its fake... lol nice coffee cup

[werejustone]

fuck this dude. regulation on what time the credit card company sends you the bill? the contracts are too hard to read? jesus

[judyleasugar97]

In November vote in the Democrats who supported health care reform! Help the working class!

[cuttyya]

so what is R. Nader talking about on the news today

[MarkOates]

OK Mr. Goolsbee, you can tone down the drama a little, it's OK. :P

[473009723]

It all starts/ends with Government reform, not business reform. What hole did this guy get pulled out of? He has a face for radio...

TARP was never "necessary" unless you work for Goldman Sachs... Obama needed TARP worse than anyone. If he didn't threaten martial law to get it, his ACORN/Racist threats would have come out.

Why don't they just have credit card companies follow the laws that are already on the books? Hey, now thats a novel thought. Oh, all are in the pockets of Obama...

[GadsdenWaver]

Rogain

[cknight63]

Financial institutions are robbing dumb or desparate Americans out of their money, while a corrupt government (which oversaw the creation of this depression) is going to "come to the rescue" by giving birth to yet another government agency. This results in a growing gov't and a removal of more and more of your freedoms.

Immorality and stupidity created these conditions in part. If we had morality, accountability and intelligence in abundance we would not be facing imminent socialism.

[groundhog2008]

Repubicans caused the financial crash, plain and simple!!!! It began with bush, and a repubican congress!!!! I get so sick of the lies that repubs spread!!! Do yourself a favor. Conservatism is a bad philosophy, vote out ALL republicans during the next election!!!!. Then vote for and elect good Democrats, like those we have in office right now!!!! And dont forget to vote for Obama for 4 more years, so he can continue to fix this country so it is inhabitable for all Black Americans!!!!

[stevenabb]

groundhot2008 -- your such a good little sucker boy :) Both these political parties are corrupt to the hilt. Both parties take lobbyist money by the millions. Thanks for being such a hard working troll...

[exChristian666]

At least these people know what they are doing , they are not nut jobs like Republicans.

[sedatedlife18]

You dolt. These are the same people who CREATED this crisis in the late 90's.

[magnusekul]

Yes, I support the bill. Similar measures have been taken by the labor government of my home counry norway. Stablilzing the economy by setting up and enforcing rules for the finance market is a matter of necessity rather than a left-right political issue. I bet quite a few conservatives in capitol hill will support this bill.

[stanjz]

I've worked in the Credit Dept for Cingular Wireless/BellSouth Wireless Data. They charged people monstrous overage charges and asked people why they didn't change their plan. The trouble is that Cingular/BellSouth was very late in their billing, I'm talking 2-3 months late. They behaved like criminals.

[dannyphantom783]

It all depends what kind of job do they have. If you have shitty job, then you'll know that you won't be able to make any profit...

[stanjz]

People are the government. People aren't big business. Big business has too much power in our society. Microsoft takes over my computer with updates and I don't know what they are doing. Energy companies jack up my rates and institutional investors jack up the price of oil with speculation. Big business controls almost all of the information that is disseminated to society.

[reevaluate2008]

egg-onomic huh?

[wuastwais]

So it is this garbage he talked aout and giving the federal reserve control over systemic risk.

Maybe we can bring back dick chenney to manage human rights.

THINK FOR YOURSELF - QUESTION AUTHORITY

[maskedphrogg]

Say hello to my little friend.

Anyone else notice the Casius Clay poster on the wall in the background.

[MrLetfreedomring]

Im suprised you have lasted 3 hours without someone calling you 'racsist' for calling Muhammed Ali - Casius Clay! Congrats....for this i award you the Nobel Peace prize

[maskedphrogg]

5hrs now.

I did hesitate. Initially I was going to use the name Mohammad Ali. Now I wish I had googled the names before posting. His name is correctly spelled Cassius M. Clay. note 3 "s" in first name.

No sense baiting the "I hate islamo-fascists" crowd so I went with Cassius to give recognition to his Louisvillian roots.

Yeah, am a tad surprised someone didn't jump on it for whatever reason just for bringing it up.

[underbird]

So the answer to a crisis created by politically motivated regulations is more regulation. These people cant even do their own taxes.

[floridagrandpa]

We had good regulation which was installed after the great depression. But over the last twenty years both parties dismantled it . I have learned to watch what politicians do not what they say. Many other people now have also. Deregulation has been tried two time in this country. The great depression time and the great recession time. It doesn't work as greed and ruthlessness is always present and always needs to be rein in. What ever politician who is not for the people needs to be voted out.

[underbird]

False. There are more regulations now than ever before. The problem is government uses regulations to meet political goals which ultimately throws things out of balance. Look at the housing crisis. Liberty is the answer and its so simple its sad.

[MoPapparani]

Define "liberty"

...you know, just so we're on the same page

Don't give me anything else besides your definition of "liberty" in that context. I don't want to hear what's been done wrong, I don't want to hear your angry rant(s) about this President of his Administration or any names you may have for him, just tell me what "liberty" is.

You say that "liberty" is the answer. What is it?

[underbird]

To me liberty is limited governement and the ability to persue ones own goals with a minimum of governement intervention. Its also the right to keep most of my property instead of turning it over to the federal government. Time is short so why am I spending over a quarter of my labor for the federal governement? I have to save for retirement but the government takes 12% of my income as if I could live on social security. If I had that money back I am sure I could do better.

[floridagrandpa]

underbird:The credit crash happen because bad and good loans were mixed and then sold as top rated debt.Congress lead by Democrats encouraged lax lending standards.Congress lead by Republicans eliminated the separation between the banking and investment industries allowing this bundling fraud.Congress has oversight of both of these industries and failed to do it's job.The result of this deregulation was a credit freeze which threaten another depression. That is why Tarp was necessary.

[underbird]

So you describe how government intervention has caused the credit crisis so thats why we needed....more government intervention. I propose that a small group of lawyers that can win a popularity contest are NOT and will NEVER be qualified to run the entire economy. Allow us the people to control our own money. Pass laws only to enforce contracts etc.

[ChairmanKiel]

I love how the trolls don't have any evidence or logic to back up "any" of their claims; and yet they seem to think that their opinion is worth something. Sorry, but reality doesn't work like that.

[maskedphrogg]

What is it exactly you thought you were adding to the conversation?

You've tossed out a disparaging generality and ... nothing more.

Do us and yourself a favour. Next time you want to hear yourself speak w/o thoughtfully pondering the topic first. Do it in a mirror in the bathroom. We'll all appreciate your efforts then.

[Drumvain]

More propaganda from the white house.

Yes they are going to make sure the laws aren't broken unless it's them and their friends doing it. Goldman Sachs is still doing all the things he said they have put A stop to. If it wasn't for derivatives Goldman Sachs would go belly up over night. They continue to run the same ponzi scheme even while getting government handouts. Like I said the corruption continues, it's just now they get to do it. What A total fraud!

[Francois89]

I want to being protected by the Consumer Financial Protection Agency and Congratulations to Obama for winning the Nobel Prize.

[somecomputergeek]

Is it me, or does this guy look like he can't wipe that smirk/grimace off his face?

[rapemearse]

Congrats to Obama for winning the Nobel peace prize!

[Drumvain]

Yes he has accomplished so much for peace, he really deserves the award......NOT!

He has done nothing but continue and in some cases ramp up the Bush military policy..FAIL!

[MrLetfreedomring]

He is in great company.....with Jimmy Carter....I fully expect Obama to exit Air Force one after a trip to Iran soon and simply exclaim...'there will be peace in our time' just like Chamberlin did for Britain right before WW2 LMAO!!

Marge Simpson is getting more coverage today for coming out on the Playboy Cover....OMFG! hee hee!!

[maskedphrogg]

We now know what farce the Nobel Prize is.

A man hardly in Office gets nominated for a Peace Prize. His initial actions in the ensuing months promotes tension and military conflict. He then is awarded a Prize for promoting Peace despite his efforts to support military intervention.

Is it irony or hypocrisy?

[MrLetfreedomring]

THis kills me everytime I watch it....they want to control how Banks work, and THEY cant even balance their own BOOKS!!! LMAO!!!

[JMCastle50]

Continued...the real estate agents have and agreement with the developer, and the banks. So the banks give out loans to people, the agents connect them with the developer and the house is in escrow and the foundation is not even dry. All of these people are now out of work, including the immigrants. How is a new agency that only goes after "consumer issues" going to solve the problem?

[yankeegal01]

Yea, I'd like to know when this is going to happen, since my state no longer takes individual consumer complaints at the Attorney General's Office. Nice change... no Consumer Affairs Dept at the State level in my state.

[JMCastle50]

What the previous question has to do with what your talking about is that, in the South West where a signifigant portion of the housing boom took place the contrators where avoiding union costs by hiring Illegal immigrants and selling three story five bedroom houses on half lots devl cost, 80k selling cost $864,000.00. With out the illegal immigrants keeping the costs down this could not have happened.

[JMCastle50]

Ok next question, if Mexicans are coming here because Mexico's government is too currupt to handle them and they(the mexicans) are fleeing an oppressive govrnment why don't we go after Mexico like we did Saddam in Iraq? At what level do we intervene in South America, when they start refining yellow cake Uranium shipped from Muritainia that was shipped from Zimbabiwe(By the Chinese Immigrants that are flocking to Zim with of course cetrifuges)?

[MrLetfreedomring]

Latest Rasmussen:

Only 31% of likely voters say the United States is heading in the right direction, according to the latest Rasmussen Reports national telephone survey.

Lets HOPE we have country next year to begin SWEEping these IDIOTS out of OFFICE!!!

[JMCastle50]

My question Mr. Goolsbee is what about overdraft fees that banks charge people? If your over in your account by $.01 you get hit with a $35.00 fee that gains intrest after the first month. If your in the whole to the back because you miscalculated by $.01 and pay off debt. The bank will not give you the option to not overdraft. If there is insufficient funds then my card should be denied, not fined with intrest. Automatically overdrafting should be something you can request.

[MrLetfreedomring]

Find a new Bank

[rapemearse]

Move to a civilized country. Only 3rd world country US allows banks to charge overdraft fees.

[MrLetfreedomring]

With a name like 'rape-me-arse" you sound like your from a civilized country......

[rapemearse]

Correct. I'm from an European country where there are no overdraft fees as well as a fully electronic system, so no checks for over a decade now. US is a bit behind, 10 years or so, ugh. Internet connectivity about 5 years behind. Same as north Africa. Won't take long before Africa starts sending money back.

[oASSAULTo]

and you can blame obama

[maskedphrogg]

And here I thought there WERE usury laws in the US.

[airdreamlove]

Let the free market do it's job, audit the fed, and sit on your hands.

[MrLetfreedomring]

Great.....lets create a 'new' agency...well whos going to pay for this...hmmm how about the banks? OK......

Now its time to pay YOUR mortgage....hey whats this new charge??? Oh its the 'new agency tax, being passed to the consumer to Combat the The Community Reinvestment Act of 1977 - enacted by Jimmy Carter, enforced by Clinton (for votes) and Promoted by Barney Frank (Fannie and Freddie), yet SOC-DEMS still want to let you believe it was Bushs fault...LMAO!

[justplayman]

1. This speeech is BS.

2. The 4TH VOW JESUITS control these butholes and causes the FOREIGN CORPORATION called the UNITED STATES to have financial troubles.

3. This is done so that they can create new rules taht seem good, but will FUCK the people worse in the longrun.

4. It's the same 'ol tactic,......create a problem so they can imoplement more solutions to control PERSONS more.

5. Just like they create WARS,....for their own advantage.

6. message me to rebut CITIZENSHIP.

[wullebulle123]

hey

" I think you're alright Goolsbee "

cool appearence on the daily show, Austan!

[Caeridwyn]

Transparency and Accountability are not Washington's strongest attributes . . .

[Caeridwyn]

What people need is to educate themselves in economics. This is all hype. Absolutely no long-term good can come out of this type of program. We need to return to sound money and sound business practices, not give more power over our finances to a Government that most obviously does not have our best interests at heart. Why do you trust them? When even your own congressman and senators start speaking out against them, why do you still support more Government control?

[zutroy1]

Expanding the power of the FED in response to a crisis which every informed economist knows was largely encouraged and made easy by the FED is not a solution.

It wasn't just banks, insurance giants, and public/private partnership disaster companies, it was the dangerous monetary policy of the FED which made it so easy. This is one area where Obama is totally wrong and where.

I feel blessed to live in a country where real regulation exists and as a result had not a single bank failure.

[TheJonathanPace]

I don't understand why everyone bitches SO MUCH about this administration. That sounded like a good plan, what is there to complain about?

[Caeridwyn]

Because my dear Jonathan, nothing is as it seems. Call it paranoia, but I get a little wary when they tell us what we "need". "This isn't about big government..." Really? Cause that's what it's going to take. It's taking the accountability of 7 agencies and lumping them all in to one. No one else sees a problem with that? One giant regulatory agency . . . sound familiar to anyone? No? Well, I'll just leave you to think that one out.

[Cutchswife]

Yes, but the credit card companies are hiking rates now because they are getting their grubby hands on peoples money NOW before the legislation comes in you need to move quickly.

[LibertyOrBust]

You have it backwards, new rules already coming into effect are causing interest rates to rise for everyone.

[LibertyOrBust]

This video should be in the dictionary as an example of talking out of your ass.

[Cutchswife]

Yes, right next to a picture of YOU.

[pongman]

I voted for President Obama and I think we've been had. When you put the fox (Palson, Geithner & Summers) in charge of the hen house you know what happens. We should have taken the bailout money and opened up new banks and given the taxpayers an equal share of those banks, and start lending money. Then in ten or twenty years put those banks up for auction to the private sector. Gov. Spitzer should be in charge and or Khanacademy on You Tube.

[jorgedude888]

THE GREED POLICE !

[mrjoanofarc]

Speak it, Goolsbee!

[dogcrapgreen]

You dope - OBAMA IS THE CAUSE OF THE UNEMPLOYMENT RATE.

The tax and spend of the Obama Adminstration is DESIGN to destroy the country