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Obama's Plan -- A Regulatory Mess (advanced text of Obama's financial address)
Fox News ^ | April 22, 2010 | John R. Lott, Jr.

Posted on 04/22/2010 8:37:00 AM PDT by richardb72

If President Obama's financial regulations are adopted, there will be fewer loans, credit will be more costly, and individuals will face more risk. Obama argues today that his reforms are necessary to prevent "a second Great Depression" from occurring, but he does nothing to fix what the government did. Nothing is done to reform Fannie Mae and Freddie Mac, despite their problems with fraud and costing taxpayers $400 billion in bailouts. Nothing is done to change government regulations that force banks to make risky mortgages.

The powers that would be given to the president and the Federal Reserve are unprecedented. The bill gives the government the power to regulate the capital, liquidity and permissible activities for a long list of firms, including securities firms, insurance companies, bank holding companies, hedge funds, finance companies as well as others. The government will be also able to limit the size of these companies.

The president claims today that he "believe(s) in the power of the free market." Yet, he is constantly demonizing companies. Even liberal New York City Mayor Michael Bloomberg warned: The bashing of Wall Street is something that should worry everybody. According to Obama, there is "an ethic of greed, corner cutting, insider dealing, things that have always threatened the long-term stability of our economic system." In contrast, for government, Obama identifies its only failure as not doing enough regulation, not doing enough to control companies.

The regulations demonstrate that the president ignores or doesn't care to know how markets operate. . . .

(Excerpt) Read more at foxnews.com ...


TOPICS: Breaking News; Business/Economy; Government; Politics/Elections
KEYWORDS: financialmarkets; foxnews; johnlott; obama; regulation
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1 posted on 04/22/2010 8:37:01 AM PDT by richardb72
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To: richardb72

Obama is such a messed up person. he feels that america must be as messed up as he is. Thanks to to the Democraps and others who voted for this piece of work. You get what you pay for. Unfortunately many of the other Americans have had to suck up the BS. Narcissistic Psycho is running America into the ground.


2 posted on 04/22/2010 8:42:21 AM PDT by hondact200 ( Lincoln Freed the Enslaved. Obama Enslaves the Free. Obama is Americas Greatest Threat)
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To: richardb72
Make sure you check out the Reuters picture of President Obama on the front page.

Marketwatch.com

3 posted on 04/22/2010 8:46:26 AM PDT by SuperSonic ("The greatest tyrannies are always perpetrated in the name of the noblest causes." -- Thomas Paine)
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To: richardb72

Obama regularly creates an administrative mess with his
draft laws and executive orders.

Why?

Check the exemption clauses in each case. Then you will understand.


4 posted on 04/22/2010 8:52:40 AM PDT by Candor7 (Now's the time to ante up against the Obama Fascist Junta ( member NRA))
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To: richardb72
"It's good to be back in lower Manhattan just a few blocks from Wall Street."

That probably wasn't intended to be a laugh line.

5 posted on 04/22/2010 8:54:42 AM PDT by Oratam
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To: richardb72
He's speaking now.

Starting out praising himself with all the jobs he has created.

sw

6 posted on 04/22/2010 8:55:07 AM PDT by spectre (Spectre's wife)
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To: JohnRLott

Bump


7 posted on 04/22/2010 8:55:47 AM PDT by bamahead (Few men desire liberty; most men wish only for a just master. -- Sallust)
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To: spectre

Oh my gosh, he’s talking again, make it stop!


8 posted on 04/22/2010 8:55:50 AM PDT by brytlea (Jesus loves me, this I know.)
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To: brytlea

I wish there weren’t so many crisis, mainly because then he has to say crisis over and over with that sibilant ssssssssssssssss sound....like a snake...


9 posted on 04/22/2010 8:56:45 AM PDT by brytlea (Jesus loves me, this I know.)
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To: brytlea
I have to listen to this POS.

The DOW is losing more ground as he speaks.

I hate him..

10 posted on 04/22/2010 8:57:30 AM PDT by spectre (Spectre's wife)
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To: richardb72

A train wreck in the making.


11 posted on 04/22/2010 8:59:43 AM PDT by b4its2late (Bawney Fwank's mother should have thrown him away and kept the stork.)
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To: richardb72

They packed the room with college kids to cheer his “populist” message. Awful. He’s talking down to the financial sector. He’s also demonstrating he knows nothing about finance, business, industry, economics, etc.


12 posted on 04/22/2010 9:00:26 AM PDT by Oratam
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To: SuperSonic

This bill is nothing more than a way to impose more threats of reprisal for political opposition; after all if government can seize your business for any reason, who would dare oppose them or support a candidate from an opposing party?


13 posted on 04/22/2010 9:00:44 AM PDT by BillGunn
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To: richardb72

Obama said today in NYC that he came there in early 2008 before the crisis hit and warned, lack of responsibility would causes a crisis which has largely come true. Interesting so Obama warned Democrats in charge of Congress in 2007 and 2008 that a pending crisis was coming and the Democrats in Congress did nothing to reform or change anything.

Its time to run Obama against the Democrats all that inherited junk needs to get lifted from Bush and put squarley on the Congressional Democrats who were the party of change and in charge in 2007 and 2008 before the economic melt down.


14 posted on 04/22/2010 9:00:58 AM PDT by Typical_Whitey (Obamacare = Enslavement)
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To: SuperSonic; StarFan; Dutchy; alisasny; BobFromNJ; BUNNY2003; Cacique; Clemenza; Coleus; cyborg; ...
Get a load of the Reuters photo of Obama on the front page. Unbelievable.

Marketwatch.com photo

Thanks for the link, SuperSonic.

15 posted on 04/22/2010 9:02:52 AM PDT by nutmeg (The bigger the government, the smaller the citizen)
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To: Oratam
They sound like a bunch of college kids.

I'm still wondering on which off shore acct. Obama has sheltered his millions.

16 posted on 04/22/2010 9:03:14 AM PDT by spectre (Spectre's wife)
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To: spectre

Hopefully.....Greece


17 posted on 04/22/2010 9:04:10 AM PDT by illiac (If we don't change directions soon, we'll get where we're going)
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To: richardb72

Dangerous legislation.

“The government” will have access to every transaction by individuals. I hope Karl Rove devotes a column to it.


18 posted on 04/22/2010 9:04:17 AM PDT by onyx (Sarah/Michele 2012)
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To: nutmeg
Oh good grief!

I can't take much more..

19 posted on 04/22/2010 9:04:27 AM PDT by spectre (Spectre's wife)
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To: illiac

LOL!


20 posted on 04/22/2010 9:04:57 AM PDT by spectre (Spectre's wife)
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To: brytlea

He wants your soullllllll! (you need to see ‘Big Trouble’ to get the reference).


21 posted on 04/22/2010 9:05:20 AM PDT by BelegStrongbow (Dear Leader: you have two ears and one mouth. Start using them in proportion.)
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To: Oratam
He’s also demonstrating he knows nothing about finance, business, industry, economics, etc.

The only thing he's ever run is his mouth.

22 posted on 04/22/2010 9:05:46 AM PDT by hsalaw
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To: spectre

Mute him. Rush is on!


23 posted on 04/22/2010 9:05:46 AM PDT by onyx (Sarah/Michele 2012)
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To: brytlea

He speaks posselmouth, that’s why. /sarc


24 posted on 04/22/2010 9:05:55 AM PDT by BelegStrongbow (Dear Leader: you have two ears and one mouth. Start using them in proportion.)
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To: spectre

One of the Gulf states?


25 posted on 04/22/2010 9:06:21 AM PDT by Oratam
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He’s talking about a crisis due to not following rules...yet he appoints Geitner, who didn’t pay his taxes. He speaks with forked tongue.


26 posted on 04/22/2010 9:06:57 AM PDT by swheats (America! America! God mend thine every flaw, Confirm thy soul in self-control, Thy liberty in law!)
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To: spectre

On the radio (Rush radio, no less), the local newsreader said the drop was due to continued concerns over Greece.

I have...difficulty with their assessment.


27 posted on 04/22/2010 9:07:00 AM PDT by BelegStrongbow (Dear Leader: you have two ears and one mouth. Start using them in proportion.)
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To: spectre

He’s someone who doesn’t know what he doesn’t know, or what he thinks he knows. He is not much different than a cocky recent college grad who thinks he understands everything and knows more than anyone else. He also is unable to ‘see’ things accurately because he is looking at them through very simplistic ideological glasses.


28 posted on 04/22/2010 9:07:12 AM PDT by pieceofthepuzzle
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To: richardb72

Obama is a Marxist idiot.


29 posted on 04/22/2010 9:09:25 AM PDT by Jim Robinson (JUST VOTE THEM OUT! teapartyexpress.org)
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To: onyx
Good idea. Mr. Spectre has a subscription to Rush and we'll watch him instead..

Blood pressure going down now..

30 posted on 04/22/2010 9:09:33 AM PDT by spectre (Spectre's wife)
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To: spectre

“They sound like a bunch of college kids.”

That’s because that is essentially what they are. They’ve never matured beyond that, and their knowledge base is just as deficient. What a pathetic bunch.


31 posted on 04/22/2010 9:09:40 AM PDT by pieceofthepuzzle
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To: richardb72

FUBO!


32 posted on 04/22/2010 9:10:02 AM PDT by Jim Robinson (JUST VOTE THEM OUT! teapartyexpress.org)
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To: spectre

Good! Rush is on a roll about this now!


33 posted on 04/22/2010 9:11:02 AM PDT by onyx (Sarah/Michele 2012)
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To: nutmeg

The "halo effect" is back.

34 posted on 04/22/2010 9:12:24 AM PDT by andy58-in-nh (America does not need to be organized: it needs to be liberated.)
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To: pieceofthepuzzle
No question about it.

Obama is an empty suit who reads what's on his teleprompter and doesn't have a clue what he is actually saying.

He's really dumber than a door knob.

35 posted on 04/22/2010 9:12:37 AM PDT by spectre (Spectre's wife)
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To: spectre
Obama is an empty suit who reads what's on his teleprompter and doesn't have a clue what he is actually saying.

You can hear in his voice he's really unsure of himself . . . until he starts talking about regulations, government control, etc.

36 posted on 04/22/2010 9:14:17 AM PDT by Oratam
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To: SuperSonic

The scowl on his face negates the halo.


37 posted on 04/22/2010 9:17:13 AM PDT by Jedidah (Character, courage, common sense are more important than issues.)
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To: spectre
But the MSM and the left have designated him as ‘brilliant’. It appears that just being a democrat earns you this designation from them. On the other hand, if you are a conservative Republican you are either ‘stupid’ (e.g. their characterization of Bush) or evil/conniving (e.g. their characterization of Rove).
38 posted on 04/22/2010 9:17:18 AM PDT by pieceofthepuzzle
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To: SuperSonic
Make sure you check out the Reuters picture of President Obama on the front page.

Interesting. Obama gets the "halo" and Pres. Bush gets "snipers wanted". ... but I'm sure it's all just a big coincidence. (I don't need a sarc tag, do I?!)

39 posted on 04/22/2010 9:17:57 AM PDT by 6SJ7 (atlasShruggedInd = TRUE)
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To: richardb72

I see this as also a ploy to position the GOP as being in favor of greed and reckless Capitalism.

The GOP should hammer the Left and point to the Liberal initiates, like CRA, that facilitated sloppy mtg practices, and ultimately the meltdown.


40 posted on 04/22/2010 9:18:05 AM PDT by Gene Eric (Your Hope has been redistributed. Here's your Change.)
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To: richardb72

Obambi: “let me close by saying this” and he kept on speaking for over six min.!


41 posted on 04/22/2010 9:18:20 AM PDT by Red_Devil 232 (VietVet - USMC All Ready On The Right? All Ready On The Left? All Ready On The Firing Line!)
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To: Oratam
Not that it isn't apparant, but he's destroying this country..one day at a time.
42 posted on 04/22/2010 9:19:08 AM PDT by spectre (Spectre's wife)
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To: spectre
Not that it isn't apparant, but he's destroying this country..one day at a time.

Only to those with eyes to see and ears to hear. His agenda is government control of everything and one party control of government. It's for our own good.

43 posted on 04/22/2010 9:23:47 AM PDT by Oratam
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To: richardb72

It’s all part of the plan, Comrade. All part of the plan. ;)


44 posted on 04/22/2010 9:23:52 AM PDT by Diana in Wisconsin (Save the Earth. It's the only planet with Chocolate.)
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To: spectre

Gold is spiking...keep talkin’ Bammy, LOL!

http://www.321gold.com/


45 posted on 04/22/2010 9:25:51 AM PDT by Diana in Wisconsin (Save the Earth. It's the only planet with Chocolate.)
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To: spectre

Let’s see him find the credits and debits on an Accounting 101 Balance Sheet. What? Poli-Sci pukes don’t take Real World subjects?


46 posted on 04/22/2010 9:25:52 AM PDT by massgopguy (I owe everything to George Bailey)
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To: onyx

I’m listening to Rush, too.

0bama is a lying POS. Not just on this issue, of course...


47 posted on 04/22/2010 9:27:40 AM PDT by Diana in Wisconsin (Save the Earth. It's the only planet with Chocolate.)
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To: nutmeg
I am convinced (B.?) Hussein (Obama?Soetoro?Dunham?) is
the new Muslem prophet because they show IT with a halo.

Big /S if needed!

48 posted on 04/22/2010 9:28:40 AM PDT by HuntsvilleTxVeteran ((B.?) Hussein (Obama?Soetoro?Dunham?) Change America Will Die From.)
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To: Diana in Wisconsin

I happy for you, Diana. My stocks are tanking..:(


49 posted on 04/22/2010 9:28:47 AM PDT by spectre (Spectre's wife)
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To: Diana in Wisconsin

Rush keeps us sane. I am furious (again). Completely sick of hearing the Marxist lie.

He’s actually talking about “Greg Craig” like he’s ethical! GC of Clinton fame.


50 posted on 04/22/2010 9:29:28 AM PDT by onyx (Sarah/Michele 2012)
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