January 21, 2010

New Boogyman on the Obama Blockhead

Taking a Populist Stance, Obama Takes On Banks - NYTimes.com

With Populist Stance, Obama Takes on Banks
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By JACKIE CALMES
Published: January 21, 2010
WASHINGTON — The tougher approach to financial regulation that President Obama outlined on Thursday reflected a changed political climate, the rebound in big banks’ fortunes after their taxpayer bailout and a shift in power within the administration away from those who had been seen as most sympathetic to Wall Street.

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Doug Mills/The New York Times
President Obama, with his economic adviser Paul Volcker at his side, told the banking industry on Thursday he was ready to fight.
Related
Obama Moves to Limit ‘Reckless Risks’ of Big Banks (January 22, 2010)

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Kevin Lamarque/Reuters
Paul A. Volcker, the former Federal Reserve chairman, had urged the president to restrict behavior at banks that led to the crisis.
In calling for new limits on the size of big banks and their ability to make risky bets, Mr. Obama was throwing a public punch at Wall Street for the third time in a week, underscoring the imperative for him and his party to strike a more populist tone, especially after the Republican victory Tuesday in the Massachusetts Senate race.

In announcing his proposals Thursday at the White House, Mr. Obama said if the financial industry wanted a fight over new restrictions, it was a fight he was r

Posted by Vanderleun at January 21, 2010 9:14 PM
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