Re: Obama Lays Out ‘Sweeping Overhaul’ of Financial Rules ...

[Guest guest]

The only failure in the system was the regulators. Many of them, especially those in Congress and Freddie and Fannie Mac, KNEW the trouble was coming but they failed to act. Obama simply creating a new layer of expensive bureaucracy without taking many of the original troublemakers, mainly those in Congress, out of the loop.

These new regs will cost the business world much more money and put executives at greater risk. All that will happen is business will slow and more will seek to move overseas to more friendly locations.

This new regulation won't solve a thing and I'm sure will cause more harm the good in the long run.

In a message dated 6/17/2009 5:58:27 P.M. Eastern Daylight Time, no_reply writes:

"This was a failure of the entire system," Obama said at a White House event that included the leaders of the Treasury, the Fed and other regulatory agencies. "An absence of oversight engendered systematic, and systemic, abuse." Dell Days of Deals! June 15-24 - A New Deal Everyday!

[Guest guest]

" These new regs will cost the business world much more money and put

executives at greater risk. All that will happen is business will slow and more

will seek to move overseas to more friendly locations.

" This new regulation won't solve a thing and I'm sure will cause more harm then

good in the long run. "

You are exactly right on these counts. But let's keep in mind that the people

who compose the Democratic constituency are mostly uneducated individuals, so

they really can't see what they are doing. Hopefully, once Obama's term(s) end,

the economy will be doing so poorly that no one will ever vote Democratic again.

I think Democrats need this slap in the face from their own elected Democrats in

order to wake up. Maybe then they will admit they don't know anything about

economics, politics, and government, and leave it up to a more balanced congress

to solve their problems for them.

Administrator