Posted on 04/14/2010 4:49:04 PM PDT by Sub-Driver
Obama dares GOP to fight Wall St. bill By: Carrie Budoff Brown and Glenn Thrush April 14, 2010 07:15 PM EDT
For weeks, the White House strategy on financial regulatory reform remained an open question: Would President Barack Obama water down his bill just to get something passed – the way he did on health care?
A Palin-esque “Hell no!” was the answer coming from the White House Wednesday as the president, his senior aides and his allies on Capitol Hill issued an ultimatum to Republicans fighting Democrats plans to overhaul financial oversight.
“For the president, you have to be willing to accept a strong bill,” said White House Press Secretary Robert Gibbs, after Obama emerged from a contentious meeting with GOP congressional leaders.
“If the effort to get this close is simply to take steps to weaken that legislation, that’s not what the president is interested in.”
Democrats are so emboldened that Senate Majority Leader Harry Reid (D-Nev.) is prepared to bring the Banking Committee bill to the floor without any major concessions to Republicans, and essentially dare them to vote against the measure, senior leadership aides said.
At a time when Wall Street is as reviled as government, Democrats are willing to gamble that at least one Republican – and maybe as many as a half-dozen — will break ranks. At the same time, Senate Republican Leader Mitch McConnell is betting he can hold his caucus together to deny them even a single vote.
“It’s been two and a half years since this crisis started, more than a year since we first laid out a comprehensive set of reforms,” said Treasury Secretary Tim Geithner during a rare appearance at the White House daily briefing alongside Gibbs.
(Excerpt) Read more at dyn.politico.com ...
This is tyranny ...
I agree with what you say, it must be stopped.
Note the Democrats first ginned up hatred for Wall Street then are trying to do this bill based on that hatred.
I am still trying to figure out where the power comes from, the Constitution seems silent on the issue of shutting down private companies on the whim of the thug in chief.
Sorry, I'm preaching to the choir, but I'm just as upset as you are. There has to be more we can do.
Somebody,....anybody......needs to give this pinhead a good thumpin'.
Verbal fist-a-cuffs.....I really think that most any FReeper could bring this dolt to his knees - "nope, sorry, no tele-prompters allowed. You got to use your brain on this one. Sorry, can't help you with the unarmed bit....."
I know a lot of you don't like Newt G......but I would love to see Newt absolutely shred this empty suit in a debate....again - no tele-prompter allowed.
I dream of such things! :)
They may be Libtards, but they are also very smart and Intelligent and dont take Kindly to being Doublecrossed and Conned by their Own Candidate playing them as FOOLS! You just dont do that! Its even worse than when OBOZO called the Cambridge Police STUPID! He Lost all of Law Enforcement on that one Statement from His True Heart! Just like the Clintoons called the Secret Service guarding their lives “PIGS!”
A Wall St. bill is just a small part of Obama's fight against freedom in total.
I guess when a Republican gets in charge, he can do the same to lib companies.
“Hate America”...yes indeed.
President Obama ia a RADICAL!
Note to RNC and Congressional GOP leaders:
Obama’s charge is a smokescreen to hide the real issue.
It’s not about protecting “Wall Street”, it’s about protecting US from the fools that want to institutionalize taxpayer funded permanent protection for “Wall Street” failures.
We have any number of good “systemic rescue” mechanisms in place - reorganization under FDIC supervision for thrifts and retail banks (with FDIC insured deposits) and Chapter 11 bankruptcy for commercial banks.
What we don’t need is any form of a “too big to fail” policy, that simply insures there will be such a failure, and we will get the bill.
Republicans get people to vote for them when they run AND govern by conservative principles. So what do Republicans do again and again and again? Try to "get along' with the dims, who laugh at them and screw them and us every time.
The new Credit CARD Act is going to have terrible unintended consequences (as most central planning nanny state laws do).
The Obama financial overhaul bill will do 1,000 times the damage of the Credit CARD Act.
It was not a lack of regulation that caused this crisis, it was government meddling in the free-market that caused it.
Any and every republican should state: “the cause of the sub-prime bubble was not wall St., it was the dems CRA, Fannie Mae sub-prime bubble that they created in the 90s, and protected from regulation during the Bush presidency. The dems have spent the last 8 years passing the buck on the problem they created. If that REALLY wanted a solution, they would declare Fannie Mae/Mac bankrupt and liquidate them, roll back the CRA, HUD laws and leave Wall St. and the Banks out of it. “
So Wall street is OK with what Obama and the RATS are doing? The Rat Senators from NY, CT, NJ and DE are on board to destroy Wall Street?
Majority of Americans: "You got it, Barack."
The big object lesson from ObamaCare is, too many major businesses in America aren't concerned with their long-term survival or the good of the nation. They are populated and run by a generation of people out for No.1, and if they kill the company in the process, so be it.
I dare Obama to start acting like a US President rather than a Latin American dictator.
“...too many major businesses in America aren’t concerned with their long-term survival or the good of the nation”
YOUR health is neither big business nor mine responsibility...
nobama is such a total loser as a human being and as a president. EPIC LOSER!
They want to loot it first. After all, all that money went somewhere...
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