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
Asked by Anonymous at 10:43 PM on Jun. 17, 2009 in Politics & Current Events
Answer by grlygrlz2 at 10:58 PM on Jun. 17, 2009
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.
Answer by Anonymous at 11:28 PM on Jun. 17, 2009
Answer by PestPatti at 11:29 PM on Jun. 17, 2009
Answer by Anonymous at 11:31 PM on Jun. 17, 2009
Answer by lovinangels at 11:44 PM on Jun. 17, 2009
Answer by urkiddingright at 11:55 PM on Jun. 17, 2009
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!
Answer by jesse123456 at 9:26 AM on Jun. 18, 2009
Answer by itsmesteph11 at 2:33 PM on Jun. 18, 2009
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