US Political Financial Reform Suggestions

April 6, 2010

 

Why the Fight for Financial Reform Needs to Get Much More Personal

Excerpt

Yet, when it comes to selling financial reform, Democrats are making the same mistake all over again. The nuts and bolts of the legislation — which are even harder for the public to get its head around than they were with health care — are being given a full airing in Congress, on op-ed pages and blogs, and on TV. And these devilish details — capital requirement levels, proprietary trading restrictions, the independence of the proposed consumer financial protection agency, etc., etc. — are critical. They are critical because it was getting them wrong that promoted the devastation in people’s lives we now see around the country. But the human element is once again getting short shrift.

This is a big-time blunder. Ask the proverbial men and women on the street where they stand on the Volcker Rule, and watch their eyes glaze over. The administration needs to make it clear: we don’t need to overhaul our financial system because the Wall Street sandbox has gotten a little messy, and bank CEO bonuses have gotten too big. We need to overhaul our financial system to make sure that system isn’t rigged to destroy the lives of millions of middle class Americans who worked hard, played by the rules, and ended up holding the short end of the stick when the big banks drove our economy over the edge of the cliff… Read more by Arianna Huffington, Huffington Post

This is a great and thoroughly realistic appraisal of the US political situation — and the perpetuated Democratic mistakes — combined with sound suggestions aiming at what the administration ought to do better.

Supplementary: Global Haplifnet – vanguard topics

 haplif – Frank Kalder (HuffPost profile/comments)


Barack Obama’s first State of the Union speech

January 28, 2010

 

Excerpt – For these Americans and so many others, change has not come fast enough. Some are frustrated; some are angry. They don’t understand why it seems like bad behavior on Wall Street is rewarded but hard work on Main Street isn’t, or why Washington has been unable or unwilling to solve any of our problems. They are tired of the partisanship and the shouting and the pettiness. They know we can’t afford it. Not now.

So we face big and difficult challenges. And what the American people hope what they deserve is for all of us, Democrats and Republicans, to work through our differences, to overcome the numbing weight of our politics. For while the people who sent us here have different backgrounds, different stories and different beliefs, the anxieties they face are the same. The aspirations they hold are shared: a job that pays the bills, a chance to get ahead. Most of all, the ability to give their children a better life.

You know what else they share? They share a stubborn resilience in the face of adversity. After one of the most difficult years in our history, they remain busy building cars and teaching kids, starting businesses and going back to school. They’re coaching Little League and helping their neighbors. As one woman wrote me, ”We are strained but hopeful, struggling but encouraged.”

It is because of this spirit, this great decency and great strength that I have never been more hopeful about America’s future than I am tonight. Despite our hardships, our union is strong. We do not give up. We do not quit. We do not allow fear or division to break our spirit. In this new decade, it’s time the American people get a government that matches their decency, that embodies their strength… Full text at New York Times

HuffPost comment (excerpt):

While most State of the Union speeches have a bit of a kitchen-sink feel to them, this one seemed particularly so with its blink-and-you-missed-it mentions of “earmark reform” and cracking “down on violations of equal pay laws — so that women get equal pay for an equal day’s work.” It felt less like an overriding vision for the country, and more like an attempt to deliver at least one applause line for every constituency in the country.

That’s not political leadership. Obama clearly understands this. It’s why he ended his speech by mocking politicians who “do what’s necessary to keep our poll numbers high, and get through the next election instead of doing what’s best for the next generation.” And he just as clearly has the ability to articulate a bold vision for the nation and lead it where it desperately needs to go… By Arianna Huffington

haplif – Frank Kalder (Global Haplifnet)


Barack Obama’s Healthcare Plan & Medicare Spending

September 11, 2009

 

In his health care address Wednesday night (Sep 9), President Barack Obama proposed a new element in his overhaul plan, a “trigger” to prevent higher medical costs from pushing the budget deficit higher… Read more by James Oliphant, Chicago Tribune

Rep. Joe Wilson, speaking to the press, said he was told by the leadership to apologize to the White House for yelling out “You lie!” at President Barack Obama while he was giving his speech to Congress.

Obama accepted Wilson’s apology and said, “We have to get to the point where we can have a conversation, about big important issues that matter to American people without vitriol, without name calling without the assumption of the worst in other people’s motives.” (Jerrie Dean, Examiner)

A full-length speech video is embedded there.   

Supplementary: Obama’s urge to accept responsibility

haplif – Frank Kalder (Global Haplifnet)