President Obama's Economic Recovery Board: First Meeting

[Nmhumbug]

A Confederacy of Dunces.

[garyowen4ever]

Judica me Deus, et discerne causam meum de gente non sancta ab homine iniquo et doloso erue me.

[garyowen4ever]

boys and girls, i seriously doubt this channel is THEE OFFICIAL WHITE HOUSE CHANNEL, since tuber geeks like to pretend.....HOWEVER, REAGAN AND THE DEMOCRATS sold out mainstreet to WALL STREET BEGINNING IN 1981, and it ONLY GETS WORSE,,,,,OUR WASH DC GOVT IS THE BOUGHT LAP DOG OF WALL STREET and the recent PBS Frontline report on 16 june 09 shows that WASH AND WALL STREET ARE JUST ONE BIG WHOREHOUSE,,,,,,,,,,,end of story!

[esj8341]

Meds,

How many more attacks with loss of life were carried out by militant islamic extremists after 9/11?

***

Obama called Bush's surge in Iraq a "success "beyond our wildest dreams." What legislative or executive move has Obama ever done besides increase the deficit to over 11 trillion?

[medartist01]

Too bad that the Rupublicans arent man enough to responsibly tend to the nation and provide for its protection and welfare. They fail us and let the country be ATTACKED on 9/11, then they BORROW AND SPEND us into DOUBLING THE NATIONAL DEBT, then they fail in 2 wars, then they fail us in the economy, and then they DROWN A WHOLE STATE. Amazing incompetence! But lets not forget their best efforts at HATING THIS NATION so much they HOPE IT FAILS in 2009. The contempt they have for our people...

[medartist01]

Its so much like a Republican, who bumbled and fumbled the nation into chaos, to then suggest, we do NOTHING. Let the banks fail, let industry fail, let millions of Americans lose their homes and jobs and DO NOTHING. No solutions. ZERO. A bankrupt brain without idea one. No wonder. It will take tens of trillions TO FIX THE REPUBLICAN DISASTER THAT WAS FOISTED ON THIS NATION BY BUSH. Whats more, the GOP is just hoping that we forget why we had to spend this money. We had to, or wed all die.

[medartist01]

As we can all see, the Republicans have given Obama multiple calamities to fix. So many Republican policy failures that even Lincoln, Washington, Kennedy, Roosevelt, Reagan, and H. W. Bush would gag and throw up at, if given the same toxic waste at the beginning of their term. Utter chaos and incompetence is what marks this modern Republican-Fanatical Party. The worst party in United States history, and definitely the WORST President in modern history. And their new party chief, Rush Limbaugh!

[esj8341]

Meds,

This sounds like hyperbole, but it is not. Obama has ALREADY OUTSPENT US PRESIDENTS COMBINED.  Bush inherited a recession and turned it into 7 1/2 years of growth.

[medartist01]

Its so much fun to laugh on a Monday morning. No other President in US history passed on more chaos to the next guy than George W. Bush. The US economy and financial institutions melted down on Bushs watch. Trillions in debt, and the beginning of trillions in spending to save the nation from ruin. 2 ongoing failed wars to pay for and fix. A huge recession, trillions lost in the markets, and that was all shoveled at Obama on DAY 1. And you have the audacity to compare that to 2001. Pathetic!

[auriciangelescu]

Bush inherited prosperity and budget surplus and turned it into the worst recession since the great depression!

[esj8341]

Commiescu,

The facts show that the downward in the economy started during the Clinton presidency.

I'd agree however that Bush in many ways resembled a Democrat in that he overspent on Katrian aid, federal programs such as No Child Left Behind, and sector bail outs.

See "The Business-Cycle Peak of March 2001," National Bureau of Economic Research, 26 Nov. 2001. See Also "The Facts about Upcoming New Benefits in Medicare," US Department of Health & Human Services, fact sheet, undated.

[esj8341]

Actually the Community Reinvestment Act ("CRS") was started up by Pres. Carter and expanded by Pres. Clinton. Some Republicans stood by others fought against the idea of forcing mortgage lenders to lend to the loosers. Other Republicans stood by and did nothing. Democrats such as Barney Frank, Chris Dodds, Carter, Clinton, and later Obama however were the primary originators, managers, and cheerleaders of CRS.

[medartist01]

Lets give these minority Republicans a STANDING OVATION for having NO shame. I have to stand and bow to these clowns. No other American President in US history has accepted ZERO responsibility for any of their actions than the arrogant terrorists of the Bush administration. They leave Obama a nation in chaos, after 8 years of almost complete GOP control of all levers of power, and they have the audacity to say that it was the guy - almost ten years prior - who caused the chaos. The BS of clowns.

[medartist01]

Lets shout out continually to the citizens of the US, a nation on the long road to recovery, after the Republicans utterly destroyed our values and ideals, that the GOP should never again be given any bit of political power, especially access to our military, which they used like pawns, to start hot wars of whim, and murdered so many of our brave men and women, painted a yellow and brown stain across the Statue of Liberty which they desecratated with their torture policy. Shame on you, GOP!

[karimrakha]

and what good is it if the home prices go up 10% and the $ value goes down 30% ...the net result is that the value it self went down...who are we fooling....being happy the stocks came uo 2% and the us $ down 5%...what good is it to print money to boost the oil prices and in the end u find the gas on the pump 3 times high during such a bad time and unimployement...why dont they find better ways than promoting inflation with printed money

[karimrakha]

the biggest money printer ever ....i think the whole administration had hidden history falsifying money...the only thing they did so far was print and print and print going down with the us $ now no body in the world respects the us 4 anymore after it was the safe haven...what worse could be done ..even the banana republics or zembabway wont print money like that

[ndizindoto]

Obama is screwing up everything that he can get his hands on. And where are all those jobs that he promised? People are losing their jobs not finding more work. Obama has weakened our defenses, he's raising taxes, he puts us in more debt than all the previous presidents combined, he makes fun of 'Special Olympic' participants, can't speak without a teleprompter, gas is going up and jobs disappearing...we're screwed. Thanks a lot Obama supporters, you made your vote count. Idiots.

[karimrakha]

he made the us $ lose 30 % of its value...what good does it make to print money and give it to the big companies that are mis managed...like that he makes the $ value go down to give the money to the rich....how could this be a democrats policy

[tampabayproductions]

Ok, here is the plan. Let's spend as much money as we can and Buy the banks and Large Corporations with the taxpayers money enslaving to us to the point of no return. They won't see it coming because they think I'm so charismatic. WAKE UP FOOLS!

[clairebreedlove26]

ObamaObamaObamaObama

[cjstudent83]

this new president sucks more than the last one

[medartist01]

So when you hear the Republicans read their favorite, shift-the-blame, talking points to Fannie and Freddie, you have to scratch your head. If the GOP didn't repeal Glass-Steagall in 1999, the regulatory rules and firewall would NEVER HAVE ALLOWED the casino games to be played with our capital by the investment houses. The STRICT, CONSERVATIVE RULES, that do not allow banks to make ANY risky loans would have remained. There would be NO MORTGAGE MELTDOWN, and NO FISCAL CRISIS. Until Phil Gramm...

[BrainDeadRepublican]

It was resistance of dems to regulations that caused it.

On Sept. 25. 2008, in an appearance by Bill Clinton on ABCs Good Morning America . There was reference to his partys efforts to prevent Republican Regulations to prevent the meltdown. Bill Clinton said, "I think the responsibility that the Democrats have may rest more in resisting any efforts by Republicans in the Congress, or by me when I was president, to put some standards and tighten up a little on Fannie Mae and Freddie Mac."

[cjstudent83]

Obama is as dumb as a door knob. Impeach the usurper, Obama, and exile him and Bush and Cheney to the Congo.

[iFresh08]

Shut up.

[cjstudent83]

Intelligent response. Almost as intelligent as Obama, the usurper.

[iFresh08]

is this better...shut the fuck up.

[WorldIslamicOrder]

socialism is coming after that its the new world order

[ytfmichaelxu]

man, the video quality is perfect.

[iFresh08]

i agree!

[chaniwie]

this quality is good..its like i am actually sitting in the white house

[BrainDeadRepublican]

"A lie told often enough becomes truth" Vladimir Lenin. The Labour Charter of 1927, by the Grand Council of Fascism, in article 9: "State intervention in economic production may take place only where private initiative is lacking or is insufficient, or when are at stakes the political interest of the State. This intervention may take the form of control, encouragement or direct management." Smells like CAFE GM Chrysler Insurance Banks Healthcare Energy Anyone see an endgame here?

[LAVATORR]

No, because the banks and the auto companies failed on their own accord and approached the government asking for massive cash infusions and the government, very reasonably, wanted something out of its investment. Would you give someone billions of dollars and ask for nothing in return?

I have no idea what higher fuel efficiency standards has to do with tyranny.

And the government isn't taking away your health care, it's providing a cheaper alternative. How the hell do you argue against that?

[BrainDeadRepublican]

Banks failed because they where forced to make loans to bad risk buyers by government decree, Community Reinvestment Act 1995. Intervention by encouragement.

Auto Companies failed because Legacy labor costs are too high because Unions looked out for what they could get today, and not if the company could afford it tomorrow and still be around. They should all FAIL and go bankrupt. But Dear Leader ZerO decided this is a good chance to get his mits on them. Intervention by direct management.

[medartist01]

? Banks were FORCED to make bad loans? Are you drunk, braindead? Banks were EAGER to make ANY LOANS due to the GOP killing Glass-Steagall (see Gramm-Leach-Bliley). That marriage of Investment houses with Banks, gave Wall Street all the incentive they needed to go into RISKY mortgage lending. It fueled the bubble. Home prices were rocketing, and brokers got rich on the commissions. Banks didn't care, cause they were making cash, and if the home owner defaulted, the Banks would take the house.

[medartist01]

So, thank you Republican Senator Phil Gramm, for giving us DEREGULATED BANKING AND FINANCE that destroyed the conservative rules that both protected the banks, and the consumers. If it weren't for this Senators decade-long attempt to marry the banks and Wall Street investment houses, we'd be all OK today. But, no! Those Rich Republican Fat Cats weren't happy with 8 years of tax cuts under Bush. They weren't happy with the extra millions, because they had a nation and a world economy to destroy!

[BrainDeadRepublican]

Banks where forced to make bad loans as part of the CRA of 1995, Bill Clinton required banks make 50% of their loans to sub prime lenders or they could not open bank branches to expand. When you give half you money to bad loan risks, sooner or later, things will crash. The crash was delayed as long as possible by Fannie Mae and Freddie Mac buying the loans from the banks. De facto making taxpayers responsible for the losses. Bailout.

Thank you Clinton CRA interventionist regulation.

[medartist01]

Rewriting recent history is a full-time job for these GOP hacks. Banks AND investment houses had a wall separating them since Glass-Steagall in 1933. We learned a hard lesson in 1929. But despite repeated attempts over the decades by Republicans to end GS, and marry the two institutions, they remained separated. That ALL ENDED in 1999, when Phil Gramm, a Republican, repealed GS, and made our capital banks into casinos. The Gramm-Leach-Bliley Act also rewrote conservative definitions of banking.

[medartist01]

Look it up, BrainDeadR. It's all there. After Phil Gramm gutted the rules, and killed the regulatory framework that defined the conservative rules, the Banks became CASINO-LENDERS! The Investment houses finally had their source of huge capital, to invest in all manner of crazy-leveraged deals. Risk? Screw that, we're making money! And with the housing bubble, the crazy GOP could do no wrong. Bad risk? No problem, the bankers would just take the house, which was increasing in value. Phil Gramm!

[medartist01]

Lastly, look at the timeline, BrainDeadR. The Gramm-Leach-Bliley in 1999 was the father of the 2007 subprime mortgage meltdown. Look it up, moron. GLB redifined even what a CUSTOMER was, AND redefined and broadened what FINANCIAL INSTITUTIONS were. That way, individuals would now be able to play with billions of dollars as if it was their own money, and not be liable. The gutting of the rules by these 3 Republicans DESTROYED OUR NATIONS BANKING AND FINANCIAL SYSTEMS. Thank you Sen Phil Gramm!

[BrainDeadRepublican]

Sub Prime loans invented by Clinton 1995

Credit Default Swaps invented by JP Morgan in 1997 to try to mitigate the risk of sub prime loans banks where forced to make. Delaying the inebidle.

GLB in 1999 allowed banks and insurnce companies to further spread the risk of sub prime loans, further delaying the inebidle.

Barney Frank derails proposed fixes for coming meltdown 2003 We do not have a crisis at Fannie Mae and in particular Freddie Mac under the outstanding leadership of Frank Raines

[medartist01]

BrainDeadR is saying Bill Clinton CAUSED the financial and mortgage meltdown ten years BEFORE it happened, and 7 years into the Republican administration! Ha. What an incredible statement to have to type out. I bet that was painful. Um, mom, the reason why I didn't finish my homework was the dog ate it ten years ago, before we actually bought him, and um... and also, I had nothing to do with any of it, and um.. well, why are you looking at me like I'm nuts? It's true, it was Clinton's fault. Ha.

[BrainDeadRepublican]

It was resistance of dems to regulations that caused it.

On Sept. 25. 2008, in an appearance by Bill Clinton on ABCs Good Morning America . There was reference to his partys efforts to prevent Republican Regulations to prevent the meltdown. Bill Clinton said, "I think the responsibility that the Democrats have may rest more in resisting any efforts by Republicans in the Congress, or by me when I was president, to put some standards and tighten up a little on Fannie Mae and Freddie Mac."

[BrainDeadRepublican]

Details at

braindeadrepublican com /Wordpress /economy/ butterfly-effect/

[BrainDeadRepublican]

On Sept. 25. 2008, in an appearance by Bill Clinton on ABCs Good Morning America . There was reference to his partys efforts to prevent Republican Regulations to prevent the meltdown. Bill Clinton said, I think the responsibility that the Democrats have may rest more in resisting any efforts by Republicans in the Congress, or by me when I was president, to put some standards and tighten up a little on Fannie Mae and Freddie Mac.

[medartist01]

You're ABSOLUTELY right, BrainDeadRepublican. Bill Clinton in 2000 created the mortgage meltdown in 2007 during the 2nd term of the Bush Administration! Further, you're right again, Bill Clinton, while he was a citizen, caused the Bush Administration to flub it in late September 2001, when we were attacked by terrorists! I suppose, by your logic, Bill Clinton was also to blame for Katrina! And the reason why Bush couldn't find the Hussein links to Bin Laden OR the WMD?! You guys are hilarious!

[BrainDeadRepublican]

I didn't say it, Bill Clinton claimed credit for it himself on ABC on Sept. 25, 2008.

[BrainDeadRepublican]

CAFE. Intervention by control and encouragement.

Healthcare. Intervention by control and encouragement and direct management.

[MUSTSEE4TV]

barack obama will go down has the greatest president ever*******

[thablackmarkit]

google video ----> obama deception

[Cutchswife]

It's nice to see a President actually running the country so much better than Bush.

[lifeline52002]

you got to be kidding , President Bush did a much better job at least under Bush we not have a month were 450,000 lost their

job.

[musicsuckswithjess]

nothing

[dhawkins1234]

right... because it's clearly more plausible that Obama's policies reached back into the past and set up the economic crisis, rather than the policies of the previous administrations (Clinton included).

[ReliableInsider]

Hey, fix the intermittent buzzing sound.

[ARAKARABLUE]

Rock on! This was cool getting to see this.

[donlawson5]

LONG BUT I WATCH ALL OF IT

[clairebreedlove26]

wow it is long

[seanmPWH]

the Federal government has no business in education.

[nycolas1712]

Very good. Mr. President.

[ChicagoMusic]

i think its brilliant that they are putting videos on youtube so we can see what they are talking about and doing behind closed doors and we know they are doing there job. Thumbs up.

[Rustpuke]

It really is great to see this type of transparency. It's just a shame that the most significant of videos the white house has released are so criminally under-viewed. I guess not many care, or perhaps not many are aware that this channel even exists. I wonder which it is.

[golfnut0703]

I totally agree that there should be a lot more views here. This video should be a must watch. I think people know about YouTube, so I really think that many people don't want to take the time to educate themselves

[ARAKARABLUE]

I posted it on my Facebook page.

[mijares40]

do you realize what a step forward it is to show this meetings in their full ..this is democracy like never before. unlike what republicans would do,transparancy, wow,go obama

[guardcorp]

this president is the coolest cat man

[industrialhemprocks]

STOP HELPING OUT CAR INDUSTRIES........ u dont need to help them it is natrual for businesses to fail when the PEOPLE dont want to invest theyre money in them at the moment.... why?????????/ b/c THE AUTOMAKERS arent the most important to our economy its the people who are important to this economy.. we are the grease and we will grease this machine where we like

[industrialhemprocks]

WHY DONT U GUYS TRY re-regulating the HEMP PLANT and all the subsidies that come from it will help us more than all these false efforts u guys might be discussing at this table

[milloselmejor]

None of those, I'm just saying that there isn't a market for those new cars, and that if they want to create a market for them they have to create a tax for gasoline and oil, otherwise the new cars will not sell and it will bankrupt the car companies.

[World77theories]

Obama Franciscan & conflicts between Jansenism, rationalists, Jesuits and Rosicrucians?

[shirsaj25]

hey fuck face fuck u .u are a dumb asshole that a world would have ever known.get your fucking facts right asshole

[gordonmcdowell]

Sounds like a blackberry. Sounds like someone is checking their email. When the SHOULD BE PAYING ATTENTION!!! (faux outrage)

[Zackeizer96]

33:43 Listen to this guy, he says "We don't wanna" instead of "We don't want to".

I'm disgusted.

[adiogolycos]

move to canada then. dont forget to spell nuclear

[lettersfromaboy]

Better yet, don't forget to pronounce it correctly. (George Bush) Now thats some disgust!!!!!!!!!!

[guardcorp]

lol?

[milloselmejor]

The one thing that I fear is that there wont be a market for those fuel efficient cars. A lot of people will not buy these cars because they like big SUV's and cars like that. If you have watched Glen Beck yesterday he was arguing that these cars will suck and that no one will buy them. If gas prices stay the way they are right now a lot of Americans will not buy these cars, I think that one way to make sure that there will be a market.... continued ^^^^^^^

[milloselmejor]

for these cars is to place a tax on oil and gas, like they do in Europe to ensure that Americans will be more willing to buy these new efficient cars. By the way, I do think that FOX news is bias and that Glen Beck is somewhat delusional (he said that gas is basically free!!! how delusional is he?) but the point is that he represents a large percentage of the population, which listens to him and will not be willing to buy these new cars.

[texas224]

This is like watching The West Wing. Expect its for real.

[imajesusfreak4him]

lol, the 2 ladys n the back ground, bhind Obama, wrote a note 2 each other just like their good old days of sneaking notes n school!!! lol, though not 4 the same reason, this time its good.

[Rockyface]

haha i saw that too. at 2:06 was the first note.

giggle :]

[imajesusfreak4him]

hehe, yeah :]

[gambori666]

The U.S. is going to be dependent on foreign energy for the foreseeable future. The only thing that will really reduce dependence on foreign oil is dependence on Brazilian sugar cane ethanol. And even that will not happen until the $0.51 cents duty per gallon is rescinded.

[gambori666]

MIchelle Obama for president 2016-2024

[someperson111]

Now THAT is what it means to have the grown ups in charge.

[texas224]

I think this is the first time they actually put a camera inside the Cabinet meeting room for more then 1 hour. Amazing.

[crumcon]

yes it is! and the future admin. cannot but will follow Obama's style.. i know many of them wont like it but.. american people will looking like ''WTF''! if they dont put camera's like meeting like this.

[todnyc]

they got that mantel clock on ebay

[diveronline]

I think that this President has the most confidence than most of the presidents before him. President Obama has a outstanding oversight of what is going and he has the ability to be a leader in bringing the message foreward..

[crumcon]

since President Jimmy carter took office, United States admin always talk about this issue. about clean energy, independent from forgeign oil and so on.. but NOT ONE admin took the action until President Obama took the office..

isn't it amazing? they have been planning this since Jimmy carter in 1977, but Obama is the one taking the action 32 years layer!!! that's almost 1/3rd century later!!

Bush makes the problem even worse

[todnyc]

have you noticed how fair he is? he actually asks the experts for info and then fully listens to them! very rare, and truly intelligent

[HydroCarbine]

Tell me exactly how printing money with no monitary backing (gold, precious metals) and giving it away interest free, only to be loaned back out to the world at interest is helping? Before you answer that, please know about GDP, how the federal reserve works.

Tell me how you will feel when all this Bailout money runs dry, how will you feel when all the creditors come knocking in September when the banks have their TARP deadline to start recollecting?

[milloselmejor]

I guess the banks will feel the same way that regular people feel when the banks are collecting payments.....

[WorldIslamicOrder]

i must say this video is cool. usulay i come here to attack, swear, curse, and scream but now i like this video.

[robinhawk]

I love watching these videos. I'm glad I can see what the government is doing, and not having the news sum it all up.

[coolwhitedude]

Further...this deserves TENS OF THOUSANDS of views in one day, not a bit more than 300. The press briefing on the 13th, at this time, has a little more than 2,100. That's a little better...not good enough, America. But if media like this continues to be available, we'll catch on.

[SupremeCourtOfUSA]

most people on youtube like to curse and insult the president and talk about what they dont know, but when it comes to actually see what he is doing and how he is doing it they all dissapear lol. these vids are great, somewhat boring but great to see what gov is doing

[coolwhitedude]

I love watching these videos. Never before has a figure of such authority been so accessible, allowing the masses watch him actually consider consultation and make decisions.

If he does spend all this money and it brings results-HUGE results-then he will go down as one of the greatest presidents ever for that reason secondarily, but primarily for this 21st-century innovation in bringing democracy closer to the people. If he DOESN't spend the money right, he will go down as one of the worst.

[lildwayne21]

The only thing I'm concerned about is all this tension that seems to exist between Obama and key members of the Democratic party.

[lildwayne21]

It's good to see Obama working diligently to bring us out of this economic crisis

[minneola24]

Yeah me to.

[nthnlsmmrs]

Incentives to build efficiently aren't what we need. People already have an incentive... cheaper bills. Building efficiently doesn't really cost much more than standard practices. The problem is that we're not being properly educated about our options and the building codes are antiquated and favor inefficient building practices. Fix the building codes first, before you start talking about making buildings more efficient.

[werido55]

i believe Obama can do it

[devay4]

I like to see Obama's working very hard..He can't give up..

[blakaxe]

Obama is smart.

[dudeanwalker]

Sorry to interrupt mr. President,

according to british newspapers more than 15.000 civilaians have been killed in mullaitivu sri lanka while the sri lankan army neglected your plea for cease fire!

[dudeanwalker]

I want to say to president Obama,

I am feeling very ashamed being an european for what WE actually have done in order to stop this massace of unknown proportions!

WE DONE NOTHING!!!!!

IF ACCOUNTS OF KILLED CIVILIANS (ACCORDING TO A LOT OF DIFFERENT TAMIL SOURCES) ARE RIGHT, WE ARE TALKING ABOUT MORE THAN 50.000 TAMILS MURDERED FROM MAY 10 UP TIL NOW!

50.000 tamil men, women, babies, children and elderly dead or missing!!!!

doctors who were important witnesses disappear!

THAT"S GENOCIDE!!!

[FlightSimmist]

interesting

[blakaxe]

we need to end a bubble economy

[dbman086]

6th hahahahahaha

[MUSTSEE4TV]

barack obama will go down in history has the best president ever**********

[MUSTSEE4TV]

fourth*******8

[keithjc22]

third

[BermyHustlinTV]

second

[mafuletrekkie]

first