In the news today, President Obama has tied the nation’s recession towards unending taxes and job losses, to the loose and malfunctioned oversight of the Wall Street executives. He emphasized on the essentiality of learning lessons from the past and not repeating them. This sort of lifestyle isn’t acceptable to me, and to all the American people – said President Obama.
Don’t get carried away by the breezy speech by President Obama because the Americans had it coming, after the announcement of a bill to curb the financial turmoil. The failure of financial institutions is going to jeopardize America’s economy and that is why the financial reform bill was passed.
Seeing that the Republicans were all up for a big “NO” against the financial reform bill, Sen. Chuck Schumer (Democrats – N. Y), found it really hard to believe. He was assuming that both parties will be working together for the betterment of the country and its people, because it was a big cause.
In his speech, President Obama spoke to an audience of 700 people. Some of the Chief Guests included;
* New York Gov. David Paterson
* New York City Mayor Michael Bloomberg
* Former Federal Reserve Chairman – Paul Volcker
President Obama spoke as if he had the audience full of Wall Street executives and at one point, when he did mention something about Wall Street, there were significant “Boos” to be heard. But he did say this out loud that a selfish and cold hearted pursuit for profits is only going to roughen up the economy.
Related posts:
- Senators Are Trying to Reach a Mutual Agreement on the Financial Reform Bill
- G.O.P. Aiming to Curb Finance Industry
- Financial Reform Bill Led to Jabbing Between Republicans and Democrats
- Universal Voter Registration Bill Set to be Introduced in the Near Future
- Obama Sticks out for Immigration Reform
- Barack Obama Made a Pilgrimage to Evangelist Billy Graham
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