Obama taps Mary Jo White to lead SEC
Mary Jo White: I'll commit "all my energies" to being SEC chair
Signaling the possibility of an aggressive new strategy for regulating Wall Street, President Obama today nominated Mary Jo White, a former U.S. Attorney for the Southern District of New York and high-profile prosecutor, to head up the Securities and Exchange Commission.
Mr. Obama, in remarks announcing the nomination this afternoon, lauded White for her career accomplishments -- which include prosecuting both mafia boss John Gotti and the mastermind behind the 1993 World Trade Center bombing -- and expressed confidence in her abilities to help the administration keep Wall Street in check.
"You don't want to mess with Mary Jo," Mr. Obama said. "Mary Jo does not intimidate easily, and that's important because she has a big job ahead of her."
Obama renominates Cordray to head Consumer Financial Protection Bureau
The president, who also re-nominated former Ohio Attorney General Richard Cordray to chair the Consumer Financial Protection Bureau (CFPB), said that both White and Cordray would be responsible for enforcing existing laws meant to protect consumers, including those enumerated in the Dodd-Frank Wall Street Reform and Consumer Protection Act, which Congress passed in 2010.
"Today there are rules to help families - responsible families - buy a home, or send their child to college without worrying about being tricked out of their life savings. There are rules to make sure that financial firms which do the right thing aren't undermined by those that don't do the right thing," Mr. Obama said. But, he added, "It's not enough to change the law, we also need cops on the beat to enforce the law."
Given her background, the 65-year-old White would deviate from the typical Wall Street-connected SEC chair if confirmed.
Mr. Obama urged the Senate to approve the nominations of White and Cordray "as soon as possible" -- but that they will is by no means a given. The president first tapped Cordray for the job in 2011, but Senate Republicans blocked his nomination amid pushback over the agency's regulatory powers. Mr. Obama gave Cordray the job anyway, via executive action, but that appointment that will expire at the end of this year.
"These are people with proven track records. They are going to look out for the people, for American consumers," Mr. Obama reiterated today. "I would urge the Senate to confirm both of them as quickly as possible."
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United States military paying $12 or more for a gallon of jet fuel and other fuel such as diesel. One nuclear aircraft carrier task force one year, look at how much it costs, all done by contractors inflating the price paid for by credit.
Ammunition for standard military M-16 assault rifles, one round $2 or more depending on the contractor.
MRE meal ready to eat, depending on the meal $9-$12 per meal or more.
Bottled water, carbonated drinks, four dollars or more per single container.
Toilet paper $3 or more per roll, Toothpaste $7-$10 per tube, clean wipes so they can wipe the dust and dirt from their faces and hands one box $9 or more.
These are some of the examples, when the war in Iraq started contractors foreign and domestic saw opportunity they grossly inflated the prices, they started ripping off the American taxpayer.
I challenge you to get out your calculators and do research on contractor prices, "starting at the beginning of the Iraqi war", (and added up to day), also add up the estimated interest, you will be surprised. """ It is in the inflated trillions """ !
The products being sold to our military the cost to produce it, look at the profit margins.
Look at the price to produce one heavy battle tank, look at the profit margin.
Look at the price to produce 1 strike aircraft F-15-E or a YF-22 and then look at European they are producing there much cheaper why?
Look at the states that have these defense contractors that produce heavy war equipment, and then look at the Congressman and Senators of the states, they are multimillionaires Hmmmmmm.