[Peace-discuss] Fwd: Wall Street reform

[C. G. Estabrook]

Wayne's right: he does have good teeth.

But his Wall Street reform doesn't. Like his healthcare, his financial 
regulation is a sop for the many and riches for the few.

As a wholly-owned subsidiary of Wall Street, the administration has to 
do enough to prevent the rise of a movement insisting on real reform, 
while not actually making any substantive changes to the rapacious 
financial system, in spite of the recent unpleasantness. That's the fine 
line this administration is adept at treading.

Basketball gives a better metaphor: fake left, drive right.  And Obama's 
  good at that, on and off the BB court.  But that's not something about 
him I like.  --CGE


John W. wrote:
> I'm certainly sorry that some of you can find NOTHING to like about 
> Barack Obama.
> 
> 
> 
> ---------- Forwarded message ---------- From: Barack Obama 
> <info at barackobama.com> Date: Fri, Apr 16, 2010 at 12:48 PM Subject: 
> Wall Street reform To: John Wason <jbw292002 at gmail.com>
> 
> 
> John --
> 
> It has now been well over a year since the near collapse of our 
> entire financial system that cost the nation more than 8 million 
> jobs. To this day, hard-working families struggle to make ends meet.
> 
> We've made strides -- businesses are starting to hire, Americans are 
> finding jobs, and neighbors who had given up looking are returning to
>  the job market with new hope. But the flaws in our financial system 
> that led to this crisis remain unresolved.
> 
> Wall Street titans still recklessly speculate with borrowed money. 
> Big banks and credit card companies stack the deck to earn millions 
> while far too many middle-class families, who have done everything 
> right, can barely pay their bills or save for a better future.
> 
> *We cannot delay action any longer.* It is time to hold the big banks
>  accountable to the people they serve, establish the strongest 
> consumer protections in our nation's history -- and ensure that 
> taxpayers will never again be forced to bail out big banks because 
> they are "too big to fail."
> 
> That is what Wall Street reform will achieve, why I am so committed 
> to making it happen, and why I'm asking for your help today.
> 
> *Please stand with me to show your support for Wall Street 
> reform.*<http://my.barackobama.com/standforwallstreetreform5?email=jbw292002@gmail.com>
> 
> 
> 
> We know that without enforceable, commonsense rules to check abuse 
> and protect families, markets are not truly free. Wall Street reform 
> will foster a strong and vibrant financial sector so that businesses 
> can get loans; families can afford mortgages; entrepreneurs can find 
> the capital to start a new company, sell a new product, or offer a 
> new service.
> 
> Consumer financial protections are currently spread across seven 
> different government agencies. Wall Street reform will create one 
> single Consumer Financial Protection Agency -- tasked with preventing
>  predatory practices and making sure you get the clear information, 
> not fine print, needed to avoid ballooning mortgage payments or 
> credit card rate hikes.
> 
> Reform will provide crucial new oversight, give shareholders a say on
>  salaries and bonuses, and create new tools to break up failing 
> financial firms so that taxpayers aren't forced into another unfair 
> bailout. And reform will keep our economy secure by ensuring that no 
> single firm can bring down the whole financial system.
> 
> With so much at stake, it is not surprising that allies of the big 
> banks and Wall Street lenders have already launched a 
> multi-million-dollar ad campaign to fight these changes. Arm-twisting
>  lobbyists are already storming Capitol Hill, seeking to undermine
> the strong bipartisan foundation of reform with loopholes and
> exemptions for the most egregious abusers of consumers.
> 
> I won't accept anything short of the full protection that our 
> citizens deserve and our economy needs. It's a fight worth having, 
> and it is a fight we can win -- if we stand up and speak out 
> together.
> 
> *So I'm asking you to join me, starting today, by adding your name as
>  a strong supporter of Wall Street reform:*
> 
> *http://my.barackobama.com/StandForWallStreetReform*<http://my.barackobama.com/standforwallstreetreform5?email=jbw292002@gmail.com>
> 
> 
> 
> Thank you,
> 
> President Barack Obama
> 
> 
> 
> 
> Paid for by Organizing for America, a project of the Democratic 
> National Committee -- 430 South Capitol Street SE, Washington, D.C. 
> 20003. This communication is not authorized by any candidate or 
> candidate's committee.

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