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Obama: New rules will keep 'worst traits in check'
AP on Yahoo ^ | 6/17/09 | Jim Kuhnhenn - ap

Posted on 06/17/2009 9:25:42 AM PDT by NormsRevenge

WASHINGTON – President Barack Obama proposed new "rules of the road" for the nation's financial system Wednesday, ...

Obama blamed the crisis on "a culture of irresponsibility" that he said had taken root from Wall Street to Washington to Main Street, .. regulations crafted to deal with the depression of the 1930s were "overwhelmed by the speed, scope and sophistication of a 21st century global economy."

The Obama plan would give new powers to the Federal Reserve to oversee the entire financial system and would also create a new consumer protection agency ...

In remarks prepared for delivery later in the day, Obama attributed much of the country's current problem to "a cascade of mistakes and missed opportunities" that happened over decades.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Crime/Corruption; Front Page News; Government; Politics/Elections
KEYWORDS: bho44; bhofascism; check; democrats; fascism; financialcrisis; obama; rules; traits
More bureaucracy ... same scoundrels at the helm.. Just what we need.

"a culture of irresponsibility" .. DOH!!!

A culture of corruption and a rush towards total socialism the last 75 years .. The DEms agenda.

1 posted on 06/17/2009 9:25:42 AM PDT by NormsRevenge
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To: NormsRevenge
Sure they will....TRUST US....After all Barack and his gang are here TO SERVE MAN! We are truely living in the Twilight Zone.....
2 posted on 06/17/2009 9:28:38 AM PDT by jakerobins ( NO)
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To: NormsRevenge

Culture of Irresponsibility?

Yeah - unfortunately, the guys most responsible (Congress) are still running the show. :(


3 posted on 06/17/2009 9:29:21 AM PDT by Tzimisce (No thanks. We have enough government already. - The Tick)
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To: NormsRevenge

4 posted on 06/17/2009 9:29:27 AM PDT by ari-freedom (Fiscal conservatism without social conservatism is dead.)
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To: NormsRevenge
We have no government armed with power capable of contending with human passions unbridled by morality and religion. Avarice, ambition, revenge or gallantry would break the strongest cords of our Constitution as a whale goes through a net. Our Constitution is designed only for a moral and religious people. It is wholly inadequate for any other.
----- John Adams (1735 - 1826)

5 posted on 06/17/2009 9:30:44 AM PDT by The Spirit Of Allegiance (Public Employees: Honor Your Oaths! Defend the Constitution from Enemies--Foreign and Domestic!)
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To: NormsRevenge

whst would we do without the dictator to put a pacifier in our mouths?


6 posted on 06/17/2009 9:31:49 AM PDT by Dubya-M-DeesWent2SyriaStupid!
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To: NormsRevenge

In the past, Wall St has contributed to a disturbing climate in which economic growth and profitability was seen as acceptable. It is traits like that which will now be kept in check.


7 posted on 06/17/2009 9:32:04 AM PDT by ClearCase_guy (We are a ruled people, serfs to the Federal Oligarchy -- and the Tree of Liberty thirsts)
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To: The Spirit Of Allegiance

What a brilliant statement by John Adams. Our founding fathers were great men.


8 posted on 06/17/2009 9:33:05 AM PDT by Aria ( "The US republic will endure until Congress discovers it can bribe the public with the people's $.")
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To: jakerobins

Wow! Is that the guy who played “Lurch” on the Addams Family show,or is it John Kerry? :)


9 posted on 06/17/2009 9:33:23 AM PDT by gimme1ibertee (For the sake of our Republic....RAISE HOLY HELL!)
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To: NormsRevenge

Watch him appoint a few more czars with zero accountability to anyone but “The One”. Every day, another outrage.


10 posted on 06/17/2009 9:37:43 AM PDT by Knute
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To: Tzimisce

Yeah - unfortunately, the guys most responsible (Congress) are still running the show. :(

The rest of the guys responsible were fined only 3% instead of a jail sentence and they’re still there,too!


11 posted on 06/17/2009 9:52:02 AM PDT by griswold3
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To: NormsRevenge

Exactly my thoughts as I read the story. The dims are the culture of corruption.


12 posted on 06/17/2009 9:58:40 AM PDT by Parley Baer
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To: NormsRevenge
Obama blamed the crisis on "a culture of irresponsibility" that he said had taken root from Wall Street to Washington to Main Street

Ah, notice "Main Street" is irresponsible too. It isn't just Wall Street that is going to be regulated. Watch out small business, here it comes! Obama's plumbing czars are on the way to free America of irresponsible tradesmen.

13 posted on 06/17/2009 10:03:35 AM PDT by keepitreal (Obama brings change: an international crisis (terrorism) within 6 months)
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To: ari-freedom

What regulations?

14 posted on 06/17/2009 10:05:59 AM PDT by Joe 6-pack (Que me amat, amet et canem meum)
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To: NormsRevenge
Not Irresponsibility!

Era of Insanity!




15 posted on 06/17/2009 10:06:39 AM PDT by Lady Jag (Communism + Hezbollah + Al Qaeda + Obama + StoneAge = CHAOS)
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To: NormsRevenge

Behold the Fuhrer.


16 posted on 06/17/2009 10:13:08 AM PDT by ExTexasRedhead
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To: The Spirit Of Allegiance

I interviewed Dr. James Dobson on the radio a few years ago and he essentially paraphrased Mr. Adams’ remarks when he declared that “Capitalism WITHOUT an underlying Christian or God centered moral system is LITTLE MORE THAN A HUNTING LICENSE.”

We have met the enemy and he is US.


17 posted on 06/17/2009 10:16:14 AM PDT by Dick Bachert
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To: Tzimisce
"the guys most responsible"

Yup. And the fellows who will probably craft the actual law are Frank and Dodd.

Like the "Glass-Steagall" Act this will probably be known as the "Dodd-Frank" Act.

The world has seriously gone mad.

18 posted on 06/17/2009 10:21:08 AM PDT by Proud_texan (Scare people enough and they'll do anything.)
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To: NormsRevenge

Apparently one of those “new rules” is allowing banks to require you to wait for FORTY FIVE MINUTES to cash a check, from the time you hand it to them, if you don’t have an account at that bank. They claim they are doing even more anal probing of the account holder than usual. This is new policy at Bank of America as of June 1.


19 posted on 06/17/2009 10:29:56 AM PDT by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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Comment #20 Removed by Moderator

To: NormsRevenge
Because government is so much less corrupt than the peasants they rule.
21 posted on 06/17/2009 10:50:48 AM PDT by E. Pluribus Unum (Islam is a religion of peace, and Muslims reserve the right to kill anyone who says otherwise.)
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To: NormsRevenge

Obama’s regulation proposals are a naked power grab. The White House in conjunction with the Fed would essentially be able to micro-manage any business they label as a threat to the economy....without, so far, any definition as to what consists a threat.


22 posted on 06/17/2009 10:55:35 AM PDT by HardStarboard ("The urge to save humanity is almost always a false front for the urge to rule - Mencken knew Obama)
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To: NormsRevenge

as an outsider looking in, how can Americans take all this and still haven’t revolted? I’m starting to worry that nobody will, but if they do, I’ll come throw in my hand.


23 posted on 06/17/2009 1:17:00 PM PDT by Bulwyf
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