A Glimmer of Hope for Obama?

[D-Mack]

Re: A Glimmer of Hope for Obama?

Admin wants Fed to oversee "systemic risk": sources
Sat May 9, 2009 12:59am BST

By Kevin Drawbaugh and Rachelle Younglai

WASHINGTON (Reuters) - The Obama administration is expected to propose legislation by June calling for the U.S. Federal Reserve to play a central role in regulating systemic risk in the economy, trade association sources said on Friday.

Now that the U.S. bank stress tests are over, the administration is refocusing on a drive to tighten regulation of banks and markets to prevent another financial crisis like the one that is currently ravaging economies worldwide.

.....
http://uk.reuters.com/article/compan...5476T220090508

probably lots of hope for JPM & Co.

[vanvaley1]

Re: A Glimmer of Hope for Obama?

Obama is going to drop-kick the health insurance industry: that alone will win him re-election.

I'll take that bet. I don't see him as being on a white horse coming to the rescue of the general populace from the 'evil doers' of the health industry...FDA included. I would have at least expected an impartial group to look at the single payer systems of the Swiss, Germans, Canadians, French, etc. and selected the one most compatible with the US and offer the congress a choice between Obama's choice and the others. Now, whatever he proposes will be amended to death as money flows into the congressional election chests from the health industry lobbyists.

[vanvaley1]

Re: A Glimmer of Hope for Obama?

Admin wants Fed to oversee "systemic risk": sources
Sat May 9, 2009 12:59am BST

By Kevin Drawbaugh and Rachelle Younglai

WASHINGTON (Reuters) - The Obama administration is expected to propose legislation by June calling for the U.S. Federal Reserve to play a central role in regulating systemic risk in the economy, trade association sources said on Friday.

Now that the U.S. bank stress tests are over, the administration is refocusing on a drive to tighten regulation of banks and markets to prevent another financial crisis like the one that is currently ravaging economies worldwide.

.....
http://uk.reuters.com/article/compan...5476T220090508

probably lots of hope for JPM & Co.

So this is the great change agent. Bail out the banking industry, allow the industry to be regulated by private bankers, and make new laws with enough loop holes to evade responsibility again as the precedent has been established that the taxpayer will foot any foolishness again in the future?

[flintlock]

Re: A Glimmer of Hope for Obama?

I'll take that bet. I don't see him as being on a white horse coming to the rescue of the general populace from the 'evil doers' of the health industry...FDA included. I would have at least expected an impartial group to look at the single payer systems of the Swiss, Germans, Canadians, French, etc. and selected the one most compatible with the US and offer the congress a choice between Obama's choice and the others. Now, whatever he proposes will be amended to death as money flows into the congressional election chests from the health industry lobbyists.

Yep, they'll turn any feasible single pay system into an abortion. Every special interest will have to get their share, and the net result will probably be no better than what we have now. But I give him credit for trying.

[BK]

Re: A Glimmer of Hope for Obama -No- Healthcare jobs

Everyone I know who isn't worried about their job (or less worried) works in a Health care related job or government employee. That said Pharma is under stress as there are lots of mergers and layoffs are a result from these mergers. Does a sitting Administration want to accelerate job losses in health care?

Nursing students are finding there are few new nursing positions for them when they graduate. I believe Presidents always lean towards doing what ever it takes to create jobs rather than destroy job opportunities. Employed voters feel better about themselves, employed voters make campaign contributions, and will vote to get incumbent Politicians re-elected.

How does the Obama Administration drastically attack the health care costs escalating without resulting in higher unemployment in the health care segment.

The Obama Administration has to understand this and I think it will temper their enthusiasm for health care reform!

Of course, I may be wrong. ;-)

[rjwjr]

Re: A Glimmer of Hope for Obama?

That is simply not true. My advice to everyone that believes this, is that they should set aside about 30 minutes to read the relevant sections of U.S. code and the executive orders.

I have read them and arrived at the same conclusion as G. Edward Griffin (author of The Creature from Jekyl Island): The JFK Myth

I have read The JFK Myth in the past so I am aware of it. I am not convinced either way, however. The argument is not compelling enough for me to throw my hat in with either camp. These are my three primary arguments...
1] From The JFK Myth; "EO11110 did not order the issuance of these certificates. It merely authorized the Secretary of the Treasury to do so, which is what happened." Not a very compelling argument.
2] I'm confused why any decree or executive order was necessary anyway as I am of the impression that the Constitution already clearly provides these powers to the Treasury.
3] Ignoring all other arguments, the primary piece of evidence in my mind is the fact that $768million of Treasury Notes were indeed introduced into circulation, thus circumventing the Fed. IT HAPPENED!

So is the argument then that this was merely coincindence that JFK amended the executive order only to have the Treasury utilize it almost immediately?

Again, I don't know what happened or why, but The JFK Myth was not strong enough to convince me that JFK wasn't trying to diminish or eliminate the role of the Fed.

In spite of the argument either way about JFK, do you think the Fed serves a worthwhile purpose/service for the Amercian people or do you feel it should be marginalized or abolished?

[flintlock]

Re: A Glimmer of Hope for Obama -No- Healthcare jobs

Everyone I know who isn't worried about their job (or less worried) works in a Health care related job or government employee. That said Pharma is under stress as there are lots of mergers and layoffs are a result from these mergers. Does a sitting Administration want to accelerate job losses in health care?

Nursing students are finding there are few new nursing positions for them when they graduate. I believe Presidents always lean towards doing what ever it takes to create jobs rather than destroy job opportunities. Employed voters feel better about themselves, employed voters make campaign contributions, and will vote to get incumbent Politicians re-elected.

How does the Obama Administration drastically attack the health care costs escalating without resulting in higher unemployment in the health care segment.

The Obama Administration has to understand this and I think it will temper their enthusiasm for health care reform!

Of course, I may be wrong. ;-)

High health care costs can destroy jobs too, so you have to look at any changes as they affect the whole. I think the main reform is going to be geared toward the insurance and administration end of things. How that plays out for the healthcare workers on the front line remains to be seen. I think there will always be plenty of jobs in that field. At what wage is the real question.

[allenjs]

Re: A Glimmer of Hope for Obama?

maybe, maybe not. if stiglitz and krugman go quiet, we'll know a deal was struck.

Krugman hasn't posted anything since Obama leaked the news about the visit, but I assumed it was out of embarrassment rather than any deal. Ever since the secret visit, Krugman had continued to post his petulant little anti-Obama temper tantrums, "The administration never listens to me!".

As soon as Obama leaked the visit, which made Krugman look like a hypocrite, Krugman posted a sullen "well, I thought it was a secret!", and hasn't said anything since.

I'm guessing that Krugman will start posting again soon, and criticizing the administration about new things.

[c1ue]

Re: A Glimmer of Hope for Obama?

Quite honestly I have severe doubts as to whether real health care reform is going to be done by Obama.

His choice of Surgeon General to me is an indicator that a more likely outcome is a Bush-Medicare Part D but for overall health care.

In other words: spend government money but make the process so complicated that overall savings due to overall health care equivalents of generic drugs is solely available via 'provider plans'.

Or in other words, significantly abated.

[Slimprofits]

Re: A Glimmer of Hope for Obama?

rjwjr, I'll respond later on with more time.

C1ue, is there a Surgeon General nominee?

[c1ue]

Re: A Glimmer of Hope for Obama?

http://voices.washingtonpost.com/44/...t_for_sur.html

Obama Wants Journalist Gupta for Surgeon General

President-elect Barack Obama has offered the job of surgeon general to Dr. Sanjay Gupta,

Of course the actual medical people seem to be against this, but so far no confirmation or denial.

[KGW]

Re: A Glimmer of Hope for Obama?

Who is Obama? Nothing. Pure figurehead designed to further the delusion that voting matters. Take a look at the video of Ron Paul taking Richard Holbrooke to task, and then listen to the drivel Holbrooke utters in his defense. American foreign policy is still the same: imperialist occupation and aggression: the robbery of resources by any other name. Looks like its going to get worse before it gets better. . .

[Judas]

Re: A Glimmer of Hope for Obama?

There's more than just a glimmer of HOPE. There's lots of it.

[Rajiv]

Re: A Glimmer of Hope for Obama?

Here is your answer -- Now Joseph Stiglitz Is On The Green Shoots Bandwagon

Joseph Stiglitz, one of the strongest critics of current economic policy, said at an event in China that: "There are distinct signs of a recovery in the U.S. economy, parts of Europe and elsewhere. There is a definite sense that the worst is over."

[D-Mack]

Re: A Glimmer of Hope for Obama?

Here is your answer -- Now Joseph Stiglitz Is On The Green Shoots Bandwagon

What was in his food during his secret meeting with Obama?