Comments on: Obama Reveals Bank Regulation Plan

President Announces Plan To Give Federal Reserve More Powers And Create Consumer Protection Agency

[jxknowles]

President Obama's plan is long overdue. While Republicans hand-cuffed the regulatory agencies and kept them underfunded and understaffed, the financial crooks ran wild. If you do research on the AIG crisis, you'll see why.

Too many whiners and crybabies running around like Chicken Little trying to scare everyone about big government. Don't be fooled. When there's no sheriff or serious enforcement in town, the goons come in like locusts and take over.

[mrs_trepidatious]

Oh what a terrible plan!

[jxknowles]

Did you actually read it?

[hclinton2012]

This LOSER of a President Barack Obama is trying to have the Government run everything, today the financial institutions, the car companies and Wall Street...tomorrow your individual life. I guess we are going toward an Iranian sytle government control of everything a person does? What a JOKE this LOSER of a President Obama has become?

[woeisme1]

I LOVE Obama! He's so smart that the average moron like some of you can't understand him. I know, you so used to that simpleton Bush. After all, he was leading us into two wars so nothing else mattered to you guys. You were happy then.

[credibility2]

Businesses and institutions need to be protected from predatory consumers. Why isn't Obama proposing anything to keep these abusive individuals in-check?

[All_pols_need_2_go]

Yeah turn over all regulation to the Federal Reserve what a great idea. You just have to be willing ot overlook the fact they are going all out to prevent having themselves audited. Ron Paul was pushing to get them audited but for some reason he isn't getting much support for do so. Could it be because if audited the same way EVERYONE ELSE IS AUDITED would show without any question that we have been and are being ripped off by our all knowing and bestowing government!

[skyk-2009]

You need to pick up some reading skills and then come back to comment. There is NO proposal to turn all the power over to the Fed... it says that NO WHERE in the SPEECH or in the ARTICLE. How can you properly discuss VERY needed Regulations if you can't understand the language?

[credibility2]

The president's speech, outlining the changes he wants in place for financial institutions is all well and good, but I'd like to know when he plans on putting into place regulations for individual consumers who scammed the system, living beyond their means, getting mortgages and credit cards they knew they couldn't afford and even hadn't any intention of paying back? Where are the regulations that forbid and prohibit these bottom-feeders from lying and being fraudulently abusive? It was laughable that one of the changes the president keeps pushing is to simplify verbiage of contracts. Yes, let's simplify because we have so many stupid people that they either can't read and comprehend for themselves, or they're too stupid and careless as to engage an attorney to help them decipher contract verbiage to protect the consumer's interest. These measures were always in place, but the president isn't one to expect personal responsibility and accountability. Instead what he wants to do is coddle the ignorant and careless consumer and tell them what is good for them and what isn't. Many of the changes he wants are unnecessary. We already have in place many regulations and agencies; some weren't strictly enforced. And agencies like the SEC, Fannie and Freddie, turned a blind eye. The Dem-controlled Congress also turned a blind eye when other entities, industry and political began raising concerns and urging investigations several years ago. Dodd, Frank, Waters, etc. were complicit in the crisis in the housing market with their pay to play cronyism for those at Fannie and Freddie. Let's stop fooling ourselves. Financial institutions share in the blame for the current economic crisis. But, so too does Congress and the bottom-feeder dolts on Main St.

[omega39-2009]

Perhaps the high priced CEOs running the lending institutions should have put their ivy league "edumacations" to use and actually scrutinized the million dollar, no document loans they were giving to the guy that ran the local leaf blower....

[ibsteve2u]

Of course, we wouldn't want to talk about the institutions that didn't care about the quality of the debt, because the numbers were what counted - the more mortgages you could bundle into an instrument, the higher you could leverage the resultant package because the economic viability of the individual consumers was simply not visible in the resultant instrument - now, would we?

[hclinton2012]

Billions for the wealthy "fat-cats" of Wall Street and the financial institutions that support this LOSER of a President Barack Obama, nothing for the average taxpayer who is losing their jobs and losing their homes to forecloser? What a JOKE this LOSER of a President Obama has become?

[skyk-2009]

BAAAAAAAAAAAAAHAHAHA Right! Time to change the foil!

[IThoughtItWasFunnyAgin]

Why would Obama give more powers to the Federal Reserve when they're the ones that pulled the economic HOAX for him in an election year?

So he can cover it up? And continue to cover it up?

Don't we already have legislative bodies that oversee banks? And why aren't we letting them do their job?

Why did the Federal Reserve keep the information from us for so many years? Because they wanted to pull it out in an election year?

[skyk-2009]

LOL Have you EVER posted anything on here that WASN'T a LIE? I mean do you honestly think people are so stupid they do not know that the melt down started BEFORE Obama came to office AND that the leader of the FED was appointed by Bush. You people are not only Irrelevant but are really embarrassing!