511 online
 
Most Popular Choices
Share on Facebook 64 Printer Friendly Page More Sharing Summarizing
General News    H2'ed 11/19/09

GET HIP: DISCOVER THE DANGERS OF A DOUBLE DIP

By       (Page 3 of 4 pages) Become a premium member to see this article and all articles as one long page.   No comments

Danny Schechter
Message Danny Schechter


While Obama was in China kowtowing to our nation's real bankers, Tim Geithner was on the hill pleading for financial reforms even as most observers believe that because the public thinks thing are getting better, and because our legislators don't want to think about it, there is no passion for cracking down on the practices and people that got us into this mess.


AP reported: "Treasury Secretary Timothy Geithner told Congress on Tuesday that efforts to strengthen the global financial system to prevent another deep crisis will falter if the United States drops the ball on overhauling regulation of its own banking system.


"We need to move on the reform agenda when the memory of the crisis is still acute.


Sorry Tim: We have no memory in our United States of Amnesia where the national attention span finds twittered messages too long.


Already the Obama Administration is preaching reform while also killing reform as in watering down the Sarbanes Oxley rules, enacted after the Enron Scandal and passed by Busheviks, for companies making less than $75 billion. That's considered "small business.


And what about protecting Consumers from abuses that EVERYONE knows are outrageous. Mike Kranish writes in the Boston Globe that reforms to lower credit card rates are fading:


WASHINGTON - Efforts in Congress to cap credit-card interest rates are faltering because of opposition from Democrats and a lack of specific support from the White House, despite growing consumer outrage over a rush by banks to impose rates as high as 30 percent.


During the 2008 presidential campaign, Barack Obama vowed to back a strict limit on credit-card interest rates. But the White House is not yet behind any particular plan this year. While Obama has chastised credit-card companies, his spokeswoman declined to say this week how he planned to follow through on his campaign pledge.

Next Page  1  |  2  |  3  |  4

(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).

Must Read 1   Well Said 1   Valuable 1  
Rate It | View Ratings

Danny Schechter Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

News Dissector Danny Schechter is blogger in chief at Mediachannel.Org He is the author of PLUNDER: Investigating Our Economic Calamity (Cosimo Books) available at Amazon.com. See Newsdisssector.org/store.htm.
Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines

 
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEd News Newsletter

Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Israel Gives All Jews A Bad Name

Is There A Threat of Fascism in the USA?

Free Marketers Going After Occupy Wall Street --Danny Schechter

WHO OWNS OUR MEDIA AND WHY IT MATTERS

COG OR COA: WHY IS OBAMA MORPHING INTO BUSH 2?

WERE THE BANKS TOO BIG TO FAIL OR THE BANKERS TOO BIG TO JAIL?

To View Comments or Join the Conversation:

Tell A Friend