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WEBMASTER EDITORIALS
NEW YORK (LIBC) -- It is ashame that President Barack Obama's new bank
reforms could herald a major change for Wall Street.
It marks a shift in terms of
who now has the president's ear in the administration.
Geithner's on record in favor of reform. He told the New York Times:
"Just because things seem populist doesn't mean they're not the right thing to
do.
" See NYT
story on Geithner, Obama.
A report by Reuters
citing anonymous sources suggested Geithner
was worried the restrictions would render Wall Street less
competitive. How much
more profit could be fleeced from those fleeced already. Business is almost to the brink
of an almost total financial collapse.
Read
Reuters report on Geithner.
Bernanke, to some congressional leaders now appear to be
lining up against nominating him for another term as Fed chairman.
His term
expires Jan. 31. See
full story.
The Volcker Rule will determine if Geithner and Bernanke stay on as spectators.
Wall street may fight the The Volcker Rule but Geithner and Bernanke may be
gone by the end of the year. Wall Street would lose two highly placed
allies in Washington.
Industry needs to work with the president and not pick fights with him.
We had 8 years of a president that could care less about the american people.
The previous administration only cared about profits before people.
Here is a president that wants to do the right thing for America, yet
our elected government officials continue to resist the move for reforms
and positive change for the american people..
I think its time for the American people to vote on a national initiative to
change what is happening in washington. We need to reform this
non-working government. This is supposed to be the governemt
of the people not the slaves working for the government.
This administration is allowing the US citizens into a situation of
financial extortion and corporate slavery. People are being robbed
without a gun pointed to their heads. This has to stop but everyone
in our government is looking the other way.
What you see in the media is what's in it for me mentality.
The lobbyist who push their own agendas. The politicians who are
bought one way or the other from previous campaign promises made.
When will this insanity stop? When will we help those rather than bailing
out the wealthy. When will we really get this economy going to generate new jobs?
So far all that has been heard from washington and local governemnts is rhetoric.
What do you think? Lets us know.
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