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Originally Posted by Azure
Appointing people to look after something does little to nothing to actually fix the problems.
You pointed out the bank regulation as an important reason why countries like Canada, Germany, India are doing so well. While it is true that we didn't get caught in the sub-prime mortgage crisis up north, Obama did pass a HUGE regulation bill. And a lot of people are confused with the intent since if you can actually manage to read or understand the damn thing, it does nothing to fix the banking regulation problems that existed. It just adds more regulation, and makes things even more confusing.
Cowperson pointed out in a different thread, or it might have actually been here in this thread that American companies are sitting on trillions in cash waiting to see what Obama is going to do. How long are they going to sit and wait before they invest somewhere else? A trillion dollars in private money would do 1000x more to the economy than the stimulus bill, and that is exactly what the US is lacking right now.
I blame that directly on Obama and his policies. Poor regulation caused the problems, but the fact that the economy seemed to improve was directly related to the public side creating what in most cases were short term jobs(IRS, census), and the private side just sitting and waiting.
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I didn't see this until now. Appointing people to executive positions is a huge part in how new bills are enforced. Bills passed through Congress are almost always vague, which leaves it up to the regulators to decide how to enforce the provisions of a bill. As for the head of this new agency, it's all the more important who is the head because they will be setting precedent on how the bill is enforced and how much power the agency has.
Obama couldn't be more friendly to big business. The bill that was passed is full of loopholes. Obama should have been stronger with big business and force them to start lending. Your post makes it seem like they should make regulation more friendly to business because businesses are worried Obama will be too harsh. These banks are turning record profits again, why are they going to invest it back into the economy, when they can horde money now and make record profits risk free?
Obama should have been especially harsh with the regulation of the banks, and taxing of top 2% in order to turn around the growing wealth gap, that's destroying the middle class. Since Reagan that gap has been growing as well as power shifting to big business within the government. Something needs to be done, but it's probably too late.