The President met in the Oval Office with Russian Foreign Minister Sergey Lavrov.
The results of the bank stress tests were released by the Obama Administration. One-hundred-fifty examiners had been involved in the inspections. Determined was, while none of the financial institutions are insolvent, some did need to raise more money as insurance against a deeper recession. Ten of the largest banks were informed they needed to raise more capital: PNC, Wells Fargo, Bank of America, Morgan Stanley, Sun Trust, CITI, Key Corp, GMAC, Regions Financial and Fifth Third. The other nine banks: JP Morgan Chase, Goldman Sachs, MetLife, U.S. Bankcorp, Bank of New York Mellon, American Express, State Street, Capital One and BB&T, passed the stress test and don’t have to raise more money.
The President issued a proclaimation identifying the first Thursday in May as a National Day of Prayer. Breaking from the prior administration’s tradition of meeting in prayer with faith based groups on the National Day of Prayer, the President decided to take his prayers in private.
Day108/May 8th/Friday: The President announced new steps to help the unemployed get education and training. “… today I'm announcing new steps we are taking… to give people across America who have lost their jobs the chance to go back to school today to get retrained for the jobs and industries of tomorrow,” the President said. The President listed new doors to higher education and job training programs to recently laid-off workers who are receiving unemployment benefits:
(1) make it easier for the unemployed to receive Pell Grants
(2) allow the continuation of unemployment benefits if enrolled in retraining programs or college
(3) make the unemployed eligible for federal educational assistance regardless of income prior to loss of job
(4) provide information for educational opportunities for unemployed workers on new website: opportunity.gov
“I've asked my Secretary of Education, Arne Duncan, and my Secretary of Labor, Hilda Solis, to work closely with states and our institutions of higher learning and encourage them not only to allow these changes, but to inform all workers receiving unemployment benefits of the training programs and financial support open to them,” the President said. Transcript
The President met with Pennsylvania United States Senator Bob Casey, Jr. in the Oval Office of the White House.
The President made a surprise appearance at a Spanish-language town hall held in the Eisenhower Executive Office Building and broadcast on the White House website. The President spoke about the H1N1 (swine flu) virus. Transcript & Video
The Director of the White House Military Office, Louis Caldera, submitted his resignation and the President accepted. The resignation was spurred by the April 27, 2009 Military Office authorized Air Force One photo op flyover of Lower Manhattan and Jersey City. text of Caldera letter
United States Secretary of the Interior Ken Salazar announced the crown of the Statue of Liberty will be reopened to tourists on July 4, 2009. A maximum of ten people will be allowed up into the crown at a time. A lottery will be utilized to decide who can go inside.
Day109/May 9th/Saturday: In his Weekly Address, the President called for a credit card reform bill, saying, "Americans know that they have a responsibility to live within their means and pay what they owe. But they also have a right to not get ripped off by the sudden rate hikes, unfair penalties, and hidden fees that have become all-too common in our credit card industry." Transcript (*author’s note: as of the time of this writing, the transcrpit site has date error of Saturday May 10, 2009—Saturday was the 9th) Video
The President attended the annual White House Correspondents Dinner. C-Span Video
Day110/May 10th/Sunday: the writer of the chronical presumes the President rested.
Next Page 1 | 2 | 3 | 4 | 5 | 6
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
1
