Obama Takes On Banks "Too Big To Fail"

Twitter log:
It's important to not lose sight of what got us into this mess in first place." Financial orgs doing risky stuff.

Bank rescue "extremely offensive" but needed. Most of TARP money has been recovered. But we need reform prevent future crisis.

Rules that led to near financial collapse are still the same. We need to reform them.
"Never again will the American taxpayer be held hostage by a bank that is 'too big to fail'".

First reform- Banks should not stray from serving customers. No more hedge fund or private equity fund investments by banks.

Banks should not be able to use "cheap money" to trade for profit.

We can no longer have a system where shareholders win if the banks do well, but taxpayers lose if the banks crash.

Reform #2 - We need to prevent banking consolidation. Having a few massive firms is not good for consumers/taxpayers.

"If these folks want a fight (banks, financial orgs) that's a fight I'm willing to have."

We can't return to business as usual. That's why we're going to pass these banking reforms into law. Distributed by Tubemogul.

Category:

News & Politics

Tags:

• Banks
• bailout
• TARP
• Obama
• Reform
• Hedge
• funds

[SOLISDEUS]

FINALLY! A voice for working families. The moneyed oligarchy has ruined our republic to sate their own greed and avarice. Their supporters, conservatives and the GOP, have applied a scorched earth policy of layoffs, outsourcing, oil speculation and union busting. Working families suffer fewer benefits, lower or no wages, and unfair regressive taxation while the richest 5% enjoy record low taxes and unfettered manipulation of the commodity markets and banks.

[welshnickm]

He's said it, now lets see if he can do it.

[spapel]

This cannot be real - and if it is real - Obama has to tighten security very, very much...

[Gantzer1]

testify man speaking right to my heart brother.

[psonit]

i just doubt it look at the advisors former fed chair.? wtf the fed is part of the problem former sec sec....same old shit

[verypopular]

the banks should return to their basics!

[jotunobsidianeyes]

The best way to rob a bank is to own one.

[pakipride2007]

OMD 3RD COMMENT LOL sorry wtf is this i dont even care

[agitcam]

Lots of lip service. When these huge gangster banks are broken up then we'll know your serious. Action, if you don't make real changes with these robber baron banks then 48% support in the polls will look pretty good from where you'll be.

[m1racing]

Like Fanny Mae? You know, the one Rahm used to run? HOT AIR!