How’d the meeting go?
April 14, 2010 | federal legislation, industry | Comments (1)Well, The New York Times has the first story on the President’s meeting with Senate leaders:
In the face of stiff opposition from Senate Republicans, President Obama urged leaders of both parties in Congress to spend the next few weeks producing a financial regulation bill that would head off the need for bailouts in the future and bring the trading of complex financial instruments out of the shadows.
During a meeting with leaders of Congress from both parties in the Cabinet Room Wednesday morning, the president rejected the contention of Republicans — and notably their leader in the Senate, Mitch McConnell of Kentucky — that the measure offered by Senate Democrats would only make bailouts more likely.
Comments»
These politicians are running the country into the ground. If you’re going to have a Federal consumer protection agency then it should apply to all forms of business and simply investigate complaints of dishonesty – and a few other things like harassment in debt collection – which consumers have not had success complaining about at the state level. Instead they want the American people to make a judgment about a 1300-page bill which nobody really understands and which will tie businesses up, discourage entrepreneurship, and in the end leave consumers with fewer choices and higher prices. Meanwhile the two Parties rightfully accuse each other of playing politics with the issue. What a joke.
We need to end the two-party system by letting voters cast a vote for more than one of the candidates in elections. That’s how the UN elects the Secretary General. It is much more democratic.