To get out of this crisis – and to ensure that we are not doomed to repeat a cycle of bubble and bust again and again – we must take immediate measures to create jobs and continue to address the housing crisis; we must build a 21st century regulatory framework, and we must pursue a bold opportunity agenda that creates new jobs and grows the American economy…
Our capital markets cannot succeed without the public’s trust. It’s time to get serious about regulatory oversight, and that’s what I will do as President. That starts with the core principles for reform that I discussed at Cooper Union.
First, if you’re a financial institution that can borrow from the government, you should be subject to government oversight and supervision…
Second, we must reform requirements on all regulated financial institutions…
Third, we need to streamline our regulatory agencies…
Fourth, we need to regulate institutions for what they do, not what they are…
Fifth, we must crack down on trading activity that crosses the line to market manipulation…
Sixth, we must establish a process that identifies systemic risks to the financial system like the crisis that has overtaken our economy…
See? It’s all quite clear. Barack Obama knows exactly what must be done. He probably learned during his time as a community organizer.
Why then, didn’t Harry Reid simply call on Barack before his press conference today?
Senate Majority Leader Harry Reid, asked today what new regulatory actions Congress can take, said, bluntly, “No one knows what to do. We are in new territory here. This is a different game. We’re not here playing soccer, basketball or football, this is a new game and we’re going to have to figure out how to do it…”
So does Harry Reid think that Barack Obama is blowing smoke, or does he simply not think of Barack Obama as someone worth listening to? Whichever it is, he sure seems like someone who would welcome the input of a commission.
Moe Lane
Steve Maley
Dan McLaughlin
Neil Stevens
Daniel Horowitz
Ha... Harry Reid only listens to Harry Reid, too
Michael Parrish (Diary) Wednesday, September 17th at 9:07PM EST (link)of course he doesn’t care what B.O. says… In Harry’s world, he’s the boss and only listens to himself.
Us conservatives think he’s arrogant and pompous, which he is, but he’s that way to everyone… in the other arrogant pompous fool running to leapfrog him…
My name is Mike Parrish and I approve of this message!
[Pocket Change - Now Lint Free!](http://www.mikeparrish.org)
Create jobs by drilling here and drilling now!
izoneguy (Diary) Wednesday, September 17th at 9:16PM EST (link)To get out of this crisis – we need to elect John McCain and let sista Sarah unleash her magical reform powers!
To ensure that we are not doomed to repeat a cycle of bubble and bust again and again – we must take immediate measures to get rid of as many corrupt democrats as possible.
Create jobs by drilling here and drilling now!
Continuing to address the housing crisis; we must foreclose and sell these houses to people who can pay for them!
Stop building a 21st century regulatory framework that only strangles innovation and accountability.
We must pursue a bold opportunity agenda that creates new jobs and grows the American economy…
Our capital markets cannot succeed when corrupt democrats are holding their hands out and then point the fingers from those hands to people who have tried to clean up the mess.
With the public’s trust it’s time to get serious about building our industries anew without regulatory oversight, and that’s what John McCain will do as President.
That starts with the core principles that John McCain stands for that I discussed at Cooper Union.
First, if you’re a financial institution you should not be able to borrow from the government, you should make your own money and not be subject to government oversight and supervision…
Second, we must not reform requirements on any financial institutions….we must get out of the way of financial institutions and let them be accountable for their own business!
Third, we need to get rid of our regulatory agencies…
Fourth, we don’t need to regulate institutions for what they do, we need to lower their taxes so they can create the wealth and spread it out to the masses…..
Fifth, the markets themselves will crack down on trading activity that crosses the line to market manipulation…
Sixth, we must not establish another department that identifies systemic risks to the financial system, all that will do is trigger more instability like the crisis that has overtaken our economy…
Seventh, I the chosen one see the error of my ways and will immediately drop out of the 2008 Presidential election. I will return to my native land of Kenya never to return to the US.
The point cannot be made often enough: Modern liberalism, as embodied in the Obama presidency, is the defender of the status quo. And the status quo is a road to economic ruin. Political forces cannot redistribute the wealth that the economic system does not produce.
Pelosi and the dems are
Wintergreen (Diary) Wednesday, September 17th at 10:23PM EST (link)trying to pin this on Bush over on msn.com.
Republicans need to forcefully point out that Fannie and Freddie–the source of this miss–was a democratic project that failed because they snuck socialism into a private company, thus ensuring bailouts and leaving its leaders free to be reckless.