A different opinion
June 23, 2009 | Ohio, alternatives, customers, federal legislation, industry, positive media coverage, states | Comments (0)“The Market Oracle” (gotta love that name) thinks President Obama’s reforms are lame. The proof? Industry doesn’t hate them enough. From the blog post:
Confronting the wreckage of a debt crisis worse than any since the Great Depression, Mr. Obama has achieved what no Republican could have: rescuing the Bush Administration’s pro-creditor policies that fostered the Bubble Economy in the first place. “Most of the financial sector lobby community is happy with what has emerged,” the Financial Times summarized. A spokesman for the Financial Services Forum, a major Wall Street lobbying organization, called the proposals “careful and balanced.” With such endorsements, victims of predatory lending have good reason to worry. The Obama plan is just the opposite from reforming the financial system along lines that progressive Democrats and other critics have urged.
The Financial Services Forum should say it hates the reforms just to get the crazies off it back.
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