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New financial rules. What do you think?

WASHINGTON – From simple home loans to Wall Street's most exotic schemes, the government would impose and enforce sweeping new "rules of the road" for the nation's battered financial system under an overhaul proposed Wednesday by President Barack Obama.
Aimed at preventing a repeat of the worst economic crisis in seven decades, the changes would begin to reverse a determined campaign pressed in the 1980s by President Ronald Reagan to cut back on federal regulations.
Obama's plan, spelled out in an 88-page white paper, would do little to streamline the alphabet soup of agencies that oversee the financial sector. But it calls for fundamental shifts in authority that would eliminate one regulatory agency, create another and both enhance and undercut the authority of the powerful Federal Reserve

Answer Question
 
Anonymous

Asked by Anonymous at 10:43 PM on Jun. 17, 2009 in Politics & Current Events

Answers (11)
  • I think as Obama's gov't gets bigger, we the PEOPLE are given less opportunity to choose...
    grlygrlz2

    Answer by grlygrlz2 at 10:58 PM on Jun. 17, 2009

  • the changes would begin to reverse a determined campaign pressed in the 1980s by President Ronald Reagan to cut back on federal regulations.

    that's a good thing
    Anonymous

    Answer by Anonymous at 11:27 PM on Jun. 17, 2009

  • I would love to know what economic policies he has signed into law that have actually worked to the positive of the people thus far? I can't think of a one. I keep hearing from his supporters 'he's only been in office 5 months' ' do you think he can work miricles' ' give him a break, these things take time', etc. Here is a novel idea, why don't we stop and wait to see if any of their other policies work out, then proceed with new policies if necessary?


    PP is correct. This administration is going to regulate and Czar the people's power right out from under them. Sickening that so many people don't see it. Ignorance is bliss.

    Anonymous

    Answer by Anonymous at 11:28 PM on Jun. 17, 2009

  • So Anon why is a good thing ? Its like hide and seek.
    PestPatti

    Answer by PestPatti at 11:29 PM on Jun. 17, 2009

  • is a good thing because all the cut backs in the bank regulations let to the housing crisis we are in.
    so its good that the changes would begin to reverse a determined campaign pressed in the 1980s by President Ronald Reagan to cut back on federal regulations.
    Anonymous

    Answer by Anonymous at 11:31 PM on Jun. 17, 2009

  • Would someone PLEASE rob the WH and Congress of all forms of media and ink until some of the freakin dust settles? Please!
    Financial regulations can take years to show their true measure.

    Heck, these people make a clothing law and it almost shut down all our second hand stores.
    Scary stuff.
    lovinangels

    Answer by lovinangels at 11:44 PM on Jun. 17, 2009

  • Seems to me, this is a band-aid to atone popular opinion.
    urkiddingright

    Answer by urkiddingright at 11:55 PM on Jun. 17, 2009

  • You know it was government regulations REQUIRING lenders to give mortgages to those that cound't afford it that got us into this mess.

    If Obama really wanted to help he would
    A. Abolish the Federal Reserve
    B. Get us back to the Gold Standard that was abandoned in 1933.

    Government regulation has done far more damage than leaving things alone ever did. Capitalism is amazing, but it only works when it is left alone. You can't artificially run capitalism.
    yourspecialkid

    Answer by yourspecialkid at 12:22 AM on Jun. 18, 2009

  • He sounds a lot like Chevez of Venezuela. They like each other you know!


    banging head into wall

    jesse123456

    Answer by jesse123456 at 9:26 AM on Jun. 18, 2009

  • The FCC already had the ability to prevent and stop what happend but they dropped the ball. Just want we need, More government bureaucracy.
    itsmesteph11

    Answer by itsmesteph11 at 2:33 PM on Jun. 18, 2009

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