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I might be on Obama's Side

aplusmnt

Well-known member
I may be on board with Obama for once. I just read where he was proposing this morning to limit commercial banks from investing like investment banks. Basically going back to Glass-Steagall type regulations. Don't know much about it, just read it but on the surface I think this may be a rare move I agree and support Obama on.

The president's new proposal restricts commercial banks and prevents them from investing in speculative or risky investment banking activity, including proprietary trading of their own accounts such as mortgage-backed securities.

The proposal also seeks to prohibit commercial banks from investing in or advising hedge funds and private equity firms.

http://articles.moneycentral.msn.com/Investing/Dispatch/market-dispatches.aspx?post=1569550
 
A

Anonymous

Guest
I heard it about an hour ago and I could also go along with this. The reason the bailouts were necessary was because they were to big to fail.

Action like this is long over due. :wink:
 

TSR

Well-known member
I read about this, I believe, a couple of days ago. One thing about Obama, he is in the first quarter of his presidency. I believe I had rather be behind in the first quarter than the last. What seems to us many times like good proposals, regardless of party, always get watered down in commiittees succumbing to lobbyists' pressures. :(
 

aplusmnt

Well-known member
TSR said:
I read about this, I believe, a couple of days ago. One thing about Obama, he is in the first quarter of his presidency. I believe I had rather be behind in the first quarter than the last. What seems to us many times like good proposals, regardless of party, always get watered down in commiittees succumbing to lobbyists' pressures. :(

Problems is what he has done and what he has proposed in his First Quarter! In one year you can not spend or propose spending that equal more than all the past presidents combined and then recover from that at the end. Obama has lied and cheated so much in just one year it will most likely be a death sentence for his Political future.

But like I said I think he is on the right track regulating the banks this way, problem is he will throw in a hundred other regulations that are unconstitutional and will only end up costing us the consumer in the end.
 

hypocritexposer

Well-known member
The days ahead will demonstrate whether Mr. Obama is serious, or if this is merely a political tactic to encourage Republicans to defend big banks. If he's serious, he will add to his plan a taxpayer exit strategy from the most expensive bailouts—at Fannie Mae and Freddie Mac.

http://online.wsj.com/article/SB10001424052748703699204575017341468635052.html?mod=WSJ_Opinion_AboveLEFTTop
 
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