Obama calls for "global" financial regulations; NWO here we come
By Nicholas Johnston
Sept. 19 (Bloomberg) -- President Barack Obama said tougher financial regulations are needed worldwide to protect consumers, provide economic stability and prevent future crises.
With the leaders from the Group of 20 nations set to meet next week in Pittsburgh, Obama said in his weekly address on the radio and Internet that international cooperation has “stopped our economic freefall.”
“We know we still have a lot to do, in conjunction with nations around the world, to strengthen the rules governing financial markets and ensure that we never again find ourselves in the precarious situation we found ourselves in just one year ago,” Obama said.
The administration has proposed an overhaul of U.S. financial regulations including oversight of the systemic risk large financial institutions pose to the economy, new ways for the government to dismantle failed companies and a regulator to oversee financial products for consumers.
Obama reiterated his calls for Congress to act on his regulatory proposals, which he also made in a speech on Wall Street Sept. 13.
“As I told leaders of our financial community in New York City earlier this week, a return to normalcy can’t breed complacency,” Obama said in today’s address. “Our government needs to fundamentally reform the rules governing financial firms and markets to meet the challenges of the 21st century.”
Oversight for Consumers
Obama said a central element to this regulatory overhaul is a new agency to oversee consumer products, including mortgages and credit cards.
“We need clear rules, clearly enforced. And that’s what this agency will do,” Obama said.
Obama said lobbyists for financial institutions are already fighting against new regulations.
“We cannot let the narrow interests of a few come before the interests of all of us,” Obama said. “We cannot forget how close we came to the brink, and perpetuate the broken system and breakdown of responsibility that made it possible.”
http://www.bloomberg.com/apps/news?pid=20601087&sid=aNRS9zQA...
I fail to see...
While i recognize most of this government's actions are predominantly "by the corporations for the corporations", I don't see much of a solution other than letting the current structure collapse and trying to re-engineer "whatever" comes out of the ashes. Even if everything did fall appart (as it seems some people wish it would), who's going to be the ones to re-engineer a new system? The people with money and power, naturally..
By in large, despite the crisis, Americans have remained relatively calm, theres not too much starvation in the streets, mass fires, or the national gaurd mowing down rows of dissidents. Don't get me wrong here, because I'm probally the most anti-corporate person i know, I just fail to see a reasonable solution that doesn't involve utter destruction of entire systems.
Nothing is produced here anymore, so what would the nation build upon when theres no manufacturing? I totally agree with the skeptics that this will create a slow collapse in the long run, but this at least gives the nation time to do something about it. The only way to rebuild manufacturing is to go completely protectionist or to let the dollar slip enough that companies can afford to bring manufacturing back to the country. All possible solutions end with the average American significantly downgrading their standard of living.
"...to protect consumers,
"...to protect consumers, provide economic stability and prevent future crises."
HAHAHAHAHAHAHAHAHAHAHAHAHA lol
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"Live free or die: Death is not the worst of evils." -- General John Stark.
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"Live free or die: Death is not the worst of evils." -- General John Stark.
They cause the problems
and then tell you they have the answers and it is always more laws and regulations that they ignore and we must abide. It is all about control.
Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
I'm trying to understand
how enacting new regulations to prevent the perpetuation of a broken financial system could possibly be wrong?
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"When I despair, I remember that all through history, the ways of truth and love have always won. There have been tyrants and murderers and, for a time, they can seem invincible, but in the end they always fall. Think of it... always."
~ Mahatma Ghandi
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"Stand up for what you believe in. Even if you stand alone."
~ Sophie Magdalena Scholl
"Let it not be said that we did nothing."
~ Ron Paul
"You must be the change you want to see in the world."
~ Mahatma Gandhi
Haven't You Noticed?
Regulations are written by the very business interests which would supposedly be regulated. The real purpose of government regulation is to clear the playing field of all small players and give the large, favored players every possible advantage.
Ron Paul Explorer: The All Paul Search Engine
It's like
Putting new nails in rotton wood and thinking the barrel will hold water.
We need s new barrel (economic system, Mises) not new nails (regulations) to fix the Keynesian economic system.
WE ARE GOING TO WIN!
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lol
lol
Ventura 2012
Thanks Granger,
That's an explanation I can actually visualize! I like your style.
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"When I despair, I remember that all through history, the ways of truth and love have always won. There have been tyrants and murderers and, for a time, they can seem invincible, but in the end they always fall. Think of it... always."
~ Mahatma Ghandi
-
"Stand up for what you believe in. Even if you stand alone."
~ Sophie Magdalena Scholl
"Let it not be said that we did nothing."
~ Ron Paul
"You must be the change you want to see in the world."
~ Mahatma Gandhi
You're very welcome katherine
I've got to pass the credit to Ron Paul as he has a wonderful way of making what can be confusing, confounding and complicated, into simple explainations full of common sense.
WE ARE GOING TO WIN!
___.---.___
.' ( ) '.
) /)' '( )
',_( ';-;'\_,'
|-|
(")
Katherine, quick question...
Are you a Liberty Lover or an Obama supporter?
Ron Paul 2012 for Peace
Ron Paul 2012 for Peace
hmmm
Maybe because the only regulations needed are the one's already on the books(but unenforced) to prevent fraud. Abolish ALL legal tender laws and prosecute fraud(fracional reserve banking and counterfeiting) ...and the so-called 'broken financial system' would be fixed almost immediatly.