12 months later, and STILL no financial reforms. Why?

G

gws21

New member
It's been more than 12 months after the giant financial crisis of 2008.

Obama was elected 12 months ago.

And yet, we still see no signs of reform in the financial sector.

Oh, sure, Obama went thought the charade of "reigning in" executive compensation - by cutting it in half, instead of setting a fixed dollar limit. And it doesnt' apply to the big financial firms like Goldman Sachs or JPMorgan, because those firms paid back their TARP bailouts to escape from this rule.

But all joking aside, notice that there has been:

No attempt to reinstate the Glass-Steagal act.

No splitting up the financial giants so they are no longer "too huge to fail."

No mass firing of members of the SEC over Madoff and over the bogus Bank of America settlement with the SEC, which was tossed out by a federal judge for being just more of the same crime BofA was accused of in the first place - defrauding and injuring BofA stockholders.

We heard talk of some new regulatory agency, which has apparently been buried in the mud.

But there are simpler things the government could have been doing in the past 12 months, and they haven't been done.

The Democrats used to accuse the Republican of blocking their efforts at reform. Where's their excuse now?
 
I so happen to agree with you on this issue ,President Obama have peoples in his cabinet who were in fact part responsible for the economic crises and these people are giving him very bad advice .

Look i am not here to defend Obama character or his patriotism . I am more concern with the president sticking to his progressive campaign promise .
 
There never will be an attempt to reinstall the Glass-Steagall Act.
Why?
because your government and your media are corporate owned and the polls do not say that the American people, mostly right-wing minded see it as a problem.
Corporate media is to good at diverting the anger of the people to blame bills that were largely irrelevant in the cause.

if anyone tries to put that stuff back, they'l lose campaign contributions and won't get elected, if not JFKed.

The biggest difference between now and the way politiics were back then, is the fact that there was no large media conglomerates like Newscorp to skew the truth and pay for political seats.
 
NOPE..and now they put more stress on businesses and more will go out of business. To PASS a bill with NO DISCUSSION on CLIMATE CHANGE THAT DOES NOT EXIST AND TO MAKE THEM REDUCE CARBON DIOXIDE is like slapping AMERICANS in the face.

Tell congress to stop talking that will reduce carbon dioxide TOTALLY. PLANT more trees...THAT IS PLANT FOOD for GODS SAKE!

THERE IS NO CLIMATE CHANGE..more and more scientists and people are SAYING IT ENDED IN 1998 and to put more FINANCIAL STRAIN ON AMERICANS NOW IS ABSOLUTELY NOT LISTENING TO WHAT HAPPENED ON TUESDAY!

Go on ...be dumb...don't listen to what people said on TV for an HOUR after elections ...be your own demise......you are not listening AMERICA!

This is pissing off MORE independents and libertarians...and they are the ones you want to please right now!

God..you people are ridiculous. To put this much strain on an economy that is not rebounding and losing a quarter of a million jobs in OCTOBER and then expect BUSINESSES to pick up more of this is absolutely INSANE!

2010 cannot come soon enough..because you are not LISTENING to what people said on TUESDAY! You should have listened to VOTERS THAT CHANGED THINGS ON TUESDAY...but you turn a deaf ear and blind eye again.......

REALLY STUPID! They passed this bill without listening to ONE MINORITY..not one republican.....THAT HAS NEVER HAPPENED BEFORE.......that shows anger and trying to get back at AMERICA for SPEAKING OUT! THAT IS STUPID...VERY STUPID! THUGGERY...PURE THUGGERY and CHILDISHNESS! REALLY STUPID!

This is not an energy bill..but a cap and trade bill to RAISE TAXES AGAIN...HUGE TAXES again....

We should be passing bills to START GETTING JOBS instead of THIS CRAP! HONESTLY...this is ridiculous!!!!!
 
Because any type of reform that they put in will hurt the minority and the poor by tightening up the credit market. I mean, when you have Barney Frank and Chris Dodd criticizing the banks for not making risky loans after yelling at them for making risky loans what do you expect?
 
I'm all for financial reforms, but where was the outrage during the 8 years of fiscal irresponsibility? Why the sudden concern?
 
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