Obama touts Wall St. changes on Lehman anniversary

[Guy Whitey Corngood]

Source: AP

By BEN FELLER (AP) – 46 minutes ago

WASHINGTON — President Barack Obama is going to Wall Street on the first anniversary of the Lehman Brothers collapse to outline financial changes to avert a future crisis like the one that sent the global economy into a tailspin.

Obama has called on Congress to pass a sweeping overhaul of how financial institutions behave but has seen slower-than-sought action. Administration officials said the president will use Lehman Brothers as a starting point to again decry a hands-off approach from Washington that enabled irresponsible lending that sent the nation's largest financial institutions to the brink of collapse and the larger economy to the edge.

White House spokesman Robert Gibbs said the president would focus on "the need to take the next series of steps in financial regulatory reform" — in other words: Congress, stop stalling and get it done.

The speech comes as the same banks that received tens of billions of taxpayer dollars last year to stay afloat are again betting on the same bonds, commodities and exotic financial products that landed them in trouble.


Read more: http://www.google.com/hostednews/ap/article/ALeqM5iBHdROtw6r8TcWMU2YgnyCKf4SywD9AN4RVG0

[Demeter]

1. Change? I don't see any change

I just see more and more of the same old, building that house of cards up higher and higher....

[Ghost Dog]

2. Text of speech:

http://blogs.wsj.com/washwire/2009/09/14/text-of-obamas-wall-street-speech/

[yurbud]

3. I wish his visit to Wall St. would have been like Saddam's visit with audience full of guys who...

betrayed him.

During Saddam's speech, he would point someone out, and they would be taken away and shot.

For Obama's speech, it would be good enough if the execs at the biggest companies were taken away and prosecuted.

[Gin]

4. I am tired of words...I want to see actions....why is it taking so long to

put regulations in place?

[yurbud]

5. i want more than that--I want these guys ritually humiliated

Stripped of EVERYTHING, then thrown in prison.

[yurbud]

6. then put him in a cell with a mean bastard who

Says he'll protect him, but it will cost. When the exec accesses his accounts they missed before, sieze them to. Repeat the process as needed..
Whe

Whe

W

[orpupilofnature57]

9. Now thats justice.

[Deja Q]

7. congress?

[yurbud]

10. Q would get more constructive work done.

[orpupilofnature57]

8. Glib , Educated ,and Articulate Androids that are addicted to a substance

that would allow them to bite their own arm off.Re-Hab on a grand scale ,solvency therapy sessions ,have them take Meta-Physics Again.