President Barack Obama stepped up his campaign against Wall Street on Thursday with a far-reaching proposal for tougher regulation of the biggest banks.
“We have to get this done,” Obama said at the White House. “If these folks want a fight, it’s a fight I’m ready to have.”
It was a stern, populist lecture from the president to Wall Street for what he perceives as its abandonment of Main Street. Obama said the government should have the power to limit the size and complexity of large financial institutions as well as their ability to make high-risk trades.
He said it wasn’t appropriate that banks have been able to run these trading operations with the protections afforded to regular banking services.
“We have to enact commonsense reforms that will protect American taxpayers and the American economy from future crises,” Obama said. “For, while the financial system is far stronger today than it was one year ago, it’s still operating under the same rules that led to its near-collapse.”
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Donna Brazile, Roland Martin, Ari Fleischer, Erick Erickson, Jessica Yellen and Anderson Cooper analyze voter turn out and if there is an enthusiasm gap amongst the GOP and Democrats. Sphere: Related Content
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Source: Corbett B. Daly / CBS News CBS News Poll analysis by the CBS News Polling Unit: Sarah Dutton, Jennifer De Pinto, Fred Backus and Anthony Salvanto. Businessman Herman Cain is now atop the field of Republican White House hopefuls, squeaking past former Massachusetts Gov. Mitt Romney in the latest CBS News/New York Times poll. Cain garnered 25 percent support of Republican primary voters in the poll released on Tuesday, compared to Romney’s 21 percent. To read this article in its entirety [...]
Source: Luke Johnson / The Huffington Post Texas Gov. Rick Perry said the birther issue was worth “keeping alive” in a CNBC interview Tuesday morning. “It’s a good issue to keep alive. It’s fun to poke at him,” said Perry, according to host John Harwood. Perry also spoke evasively about President Barack Obama’s birth certificate in an interview with Parademagazine published over the weekend. When asked if he believed the president was born in the United States, he said, “I have no reason to think [...]
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Source: USA Today Local governments, once a steady source of employment in tough economic times, are shedding jobs in unprecedented numbers, and heavy payroll losses are expected to persist into next year. The job cuts by city and county governments are helping offset modest private-sector employment gains, restraining broader job growth. “They’ll continue to be a drag on the overall (employment) numbers and the economy,” says Wells Fargo economist Mark Vitner. Localities have chopped 535,000 positions since September 2008 to close massive [...]
Roland Martin talks with Harry Johnson, President and CEO of the Washington, D.C. Martin Luther King, Jr. National Memorial Project Foundation about the unveiling of the MLK Memorial. WATCH: Extended coverage from the MLK Memorial Dedication Week. Sphere: Related Content
