President Obama aggressively threatens new regulation on banks. The Dow falls 200 points. Coincidence?'WASHINGTON - President Barack Obama stepped up his campaign against Wall Street on Thursday with a far-reaching proposal for tougher regulation of the biggest banks. "We have to get this done," Obama said at the White House. "If these folks want a fight, it's a fight I'm ready to... |
I think a short-term drop in the Dow is well worth the long-term benefits to the country and economy as a whole of reigning in those "banks gone wild".
More regulation is needed. The collapse is the ultimate proof that banks cannot and will not regulate themselves.
Democrats and Republicans were warned more than 10 years ago that this was needed - by a Democrat. The bankers partied their faces offwhile they sold worthless securities around the world backed up by the real-estate bubble.
http://en.wikipedia.org/wiki/Brooksley_E...
It's not a coincidence - it's simply common sense. The banks and government fiddled while Rome burned. Those bedbugs on Wall Street made huge profits out of nothing more than promises of payment, and almost collapsed the economy while doing it. The banking industry is badly in need of reregulation, or this will just keep on happening.
Of course, just watch the Republicans try to block it.
The only people Obama's actions hurt are the very people he claims he wants to protect, the middle-class. Banks pass costs to the consumers. I've done my part by not dealing with mega banks. Other people need to follow suit and stop being used by these thieves.
Not a coincidence at all. All you ave to do is look at the effect on stock b=prices between regional banks and the large investment banks....regional banks are up, investment banks are down.
how many times do i have to say he wants this country to go under?? study the great the great depression. you will find out obama hates this country. he went to a church that his pastor said things like not god bless america but god dam america. all his friends have done things to hurt this counrty. wake up. we made a big mistake he must be impeach that will not happen tell will get the democarts out of congress
It's about damn time! Otherwise, we send the message that the gov't is always ready to hand them money when they need it because of their risky practices. Enough is enough!
No, but the liberals and Democrats seem to be trying to spin it to the new Senator from Massachusetts.
Ultimately, it will be President Bush's fault.
Sounds like the fire department sending a memo to the arsonist letting them know when they will be on vacation.
Let him single handily bring down the whole Democratic party!
Scott Brown elected.
The Dow drops for two days running.
Coincidence?
Ever hear of the fallacy of "post hoc ergo propter hoc"?
You should look it up.
