Monday, September 16, 2013


White House Report on Financial Crisis Five Year Anniversary

In its report, posted below, the administration argues:

* The money invested in banks has been returned. Stress tests and stiffer capital requirements — the percent of money lent out that must be backed by cash or liquid assets — have made the industry stronger. (Critics, including 2012 presidential candidate Mitt Romney, have argued that GM and Chrysler should have had to go through a private bankruptcy.)

* That the massive bailout of AIG insurance behemoth was successful and repaid.

* That the Big Three U.S. auto companies have, as a group, gained market share for the first time in 20 years.

* That U.S. efforts helped 7 million home owners “modify their mortgages” — a development that many have said hasn’t always been fair to lenders or investors in mortgage-backed securities.

The White House on Sunday made a forceful case that “bold and controversial” decisions by President Obama in the early months after taking office in 2009 have help prevent a second Great Depression, saved our financial system and added nearly 400,000 new auto industry-related jobs, even it noted experts had warned that the industry was poised to instead lose 1 million jobs.

The push comes five years after the height of the financial crisis, and just ahead of significant new decisions about the direction of the Administration’s core economic agenda. Former Treasury Secretary Larry Summers, the President’s choice to lead the Federal Reserve withdrew his name on Sunday, after opposition by senators in both parties appeared to make his confirmation impossible.

Obama to mark financial crisis 5th anniversary with push for Volcker rule, money market mutual fund regulations.

Tags : , , ,



The idea behind the text.
Respect for the truth is almost the basis of all morality.
Nothing can come from nothing.

Popular Topics


Well, the way they make shows is, they make one show. That show's called a pilot. Then they show that show to the people who make shows, and on the strength of that one show they decide if they're going to make more shows.

Like you, I used to think the world was this great place where everybody lived by the same standards I did, then some kid with a nail showed me I was living in his world, a world where chaos rules not order, a world where righteousness is not rewarded. That's Cesar's world, and if you're not willing to play by his rules, then you're gonna have to pay the price.

You think water moves fast? You should see ice. It moves like it has a mind. Like it knows it killed the world once and got a taste for murder. After the avalanche, it took us a week to climb out. Now, I don't know exactly when we turned on each other, but I know that seven of us survived the slide... and only five made it out. Now we took an oath, that I'm breaking now. We said we'd say it was the snow that killed the other two, but it wasn't. Nature is lethal but it doesn't hold a candle to man.

You see? It's curious. Ted did figure it out - time travel. And when we get back, we gonna tell everyone. How it's possible, how it's done, what the dangers are. But then why fifty years in the future when the spacecraft encounters a black hole does the computer call it an 'unknown entry event'? Why don't they know? If they don't know, that means we never told anyone. And if we never told anyone it means we never made it back. Hence we die down here. Just as a matter of deductive logic.