Obama to Give Speech on Financial Crisis

(AP)  Last updated at 9:22 p.m. Eastern

President Barack Obama is delivering a speech on Wall Street Monday, exactly one year after the Lehman Brothers investment bank collapsed and precipitated the financial crisis felt around the world.

The White House said Thursday that Obama will discuss what the administration has done to ease the crisis, its commitment to reduce government involvement in the financial sector and actions the United States and other countries must take to keep it from happening again.

The speech is scheduled for Federal Hall in New York.

It was unclear whether Obama would announce new policies in the speech.

The financial crisis struck in the waning days of the Bush administration, which enacted a $700 billion financial industry bailout to stem the tide. Obama began to play cleanup upon taking office. His administration has proposed an overhaul of the financial system that would include giving the Federal Reserve, the U.S. central bank, authority to regulate large financial companies. It also would create a new consumer protection agency to make and enforce rules for financial products.

On Thursday, citing emerging financial sector stability, Treasury Secretary Timothy Geithner said a number of government rescue efforts in place since the crisis began no longer are needed, and banks will repay $50 billion in rescue funds during the next 18 months.

Geithner said conditions have improved in the banking industry, and his department is stepping down emergency support programs that were put in place after Lehman Brothers collapsed in the largest bankruptcy in U.S. history.

[pickaguitar1]

YES WE CAN!

[oiaf0831]

It's 9/11.

Obama is to blame for everything.

It is now his watch.

Will the Democrats keep to their own standards and start accepting the blame for everything, without giving even one bit of blame to the past administration?

Or will they become recession deniers, saying the recession is all in our minds, it's a mental recession, and we are all whiners?

%%%%%%%%%%%%%%%%%%%%%%%%%

What a racist whiner you are. You just can't stand to see your white power slipping away because now you have a black president.

And the recession is over, I just heard it on NPR. And even though unemployment is the highest in a quarter century and rising, it would have been even worse if Obama hadn't stopped the spiraling unemployment he inherited from the past administration. Economists say Obama's economic stimulus has stopped things from getting worse, even though only 20% of it has been paid out.

Imagine how much better things will get when the rest of it pays out.

If unemployment is getting worse at a slower pace, that means it won't be long before it stops and then starts getting better. It's just common sense.

Thank the Lord for intelligent leadership, at last!

[TurnAmericaAround]

Dude, not everything is a conspiracy. Get a grip. Also, we've been in Afghanistan for 8 years...still no end in sight. We WON WWI in half that time. If we wouldn't have spread ourselves so thing in Iraq, maybe we could have won this important war.

[r9119111]

Both democracy and free markets are for mature minds. People with immature and greedy minds interfere with progress. Let's move forward, Mr. President.

[r9119111]

If FOX News broke it, whatever it is may be false or even unfixable.

[r9119111]

A note to all reasonable legislators in Washington:

It is time to stop wasting time trying to include the Republicans in any meaningful discussion. They are Hollywooding everything and being disruptive on purpose. Ignore and isolate them if they won't cooperate in meaningful discussion. We simply must move on without them. Thank you.

[dronemonk]

"Corrupted by wealth and power, your government is like a restaurant with only one dish. They've got a set of Republican waiters on one side and a set of Democratic waiters on the other side. But no matter which set of waiters brings you the dish, the legislative grub is all prepared in the same Wall Street kitchen." - Huey Long

[ronaldr5-2009]

How about a speech on ACORN, Prostitution and tax evasion?
How about covering the REAL NEWS?
WHERE IS CBS, NBC, ABC, CNN?
ENOUGH of this!!
Over and Out -- for good!!

[hungry1968-16]

by socalsage September 10, 2009 7:43 PM EDT
Obama has proved himself a first class liar..




by Honorable_Sir September 10, 2009 11:11 PM EDT
socalsage, factcheck agrees with you. So do I.







And yet NEITHER of you can provide any of his alleged lies, with proof to back up the fact that they're lies.

[pensacola8-2009]

President Obama and President Bush both are extremely humble and dilligent on their work to lead Congress into providing solutions to the national economic crisis.

Most Americans don't understand that we nearly saw the end of capitalism...because if no stimulus or rescue occurred and banks and insurance were all allowed to fail and become nationalized, the end of capitalism would have loomed outside everyones front and back door of their residence complete with a launch of another economic depression.

The USA has resolved economic depressions and recessions by permitting the federal government to borrow and spend its' way out.

If the Republican wish "to make government so small you could drown it in a bathtub" was allowed to materialize, we would not see near the stability that exists today.