Closing Arguments: Too Much Regulation in Obama Plan?

I think the president is correct in increasing regulation for the financial industry. They have proven they can't be trusted to police themselves.

WHen the Federal Reserve Bank and Congress were ALL part of the mortgage for nothing job crisis...why allow the Fed MORE power with a man who didn't even pay his taxes? Can't trust anyone in Washington...they're ALL crooks! All of em!!!!

I find it interesting that the very people that unregulated the financial institutions and ran up trillions in deficits are the biggest critics. Greed has a way of showing its ugly head, obviously the financial institutions cannot regulate themselves. Lets regulate the oil industry and bring the price of gas down before they put the economy on the skids, we did it in the 70's why not now.

I thought we fought a revolution 232 years ago because our founding fathers got sick of government injecting itself in every part of their lives. The more freedom we give up to the government through "regulation" the more of our freedom they will take away. There are natural ebs and flows in business and economic cycles and if you try to "regulate" them, you're setting up the whole system for collapse.

No where is the President of the United States given the authority to do the things Obama is doing with private business. He and congress need to get out of the way and leave things alone. Obama and the democrats are killing this country a little bit at a time and we the people are so stupid to just sit here and allow them to mess up our country. Vote them all out of office in the next elections.

Obama was elected to protect our freedom. Instead, he's trying to take control of everything. He's probably a fraud--not even a natural born citizen. He needs to be stopped before he destroys the works and efforts of those he was elected to govern. He wasn't elected to be a dictator. We have a constitution and need to adhere to it. Our president is making great progress on his promise to "remake this country," to our detriment.

There needs to be tougher rules on lending and how much risk can be taken on within the financial industry, but we don't need ANOTHER government agency!! The government is spending us into the poor house already, we don't need another group of government workers spending money we don't have!!
Another rule that needs to be put in place is one that forbids Congress from pressuring financial institutions to make risky loans!!!!!!!!!!

WE are over regulated as it is. The Federal Reserve is run by a man that didn't pay his own taxes! And you want him to tell us what we can and can not do? Dream on! The government should back off!

It is because the government deregulated the banking industry that this mess was able to happen. When ronald Reagan deregulated the banking industry way back then, the first thing the banks did was float junk bonds. Remember that? President Bushs' brother was up to his eyeballs in that S&L scandal. We turned a blind eye and they kept on their merry way. The old saying applies. "Slap me once shame on you, slap me twice shame on you". Slap me a third time and you might as well hand me a sign that says STUPID

It's about time that irrational Financial Institutions & Stock Market Speculators sober up. Thank goodness for Obama!
Energy & Oil Speculation have bankrupt working American households & Small Businesses.
Hey Big Banks---that's all there is----sober up & get real---the average American is Broke----
A little regulation is long overdue.

All the problems we are having now is created by government intervention and I have never found anything the government gets involved in that don't get worse. This massive move into socialization of everything will make a third world nation out of this once great nation. I haven't found anything Obama has done that I think will help this nation.

Regulation is Congress' job, not the President's. Does anyone read the Constitution anymore? There are good reasons why government works best that way. Read the Constitution. Read the Federalist Papers. Congress could have and should have reined in Fannie May; Freedie Mac; Bear Sterns, etc and they did not. Why didn't they? Because the average Congressman is uneducated. They aren't as interested in the welfare of the country as they are assuring their own re-election. They are uneducated boobs when it comes to economics. What should Obama do? Cut Taxes! Business men will do what businessmen do best .... they will jump on the opportunity to make money. They will start businesses and hire employees. Government needs to just stand back. Government caused this recession; why should we believe that they can fix it? Sure, they should have made laws that prohibited banks from gambling with depositor's money. Bank presidents know what the differences are between investing and gambling. Many bankers belong in jail. Congress belongs in jail for not writing laws that made gambling with depositor's money criminal.

Yes it is essential that more regulation be in place. The financial services industry is the most corrupt industry in the world, let alone the USA. The leadership of these firms routinely takes an obscene amount of compensation. This industry generates its value through the use of other people's money and it has been acting like the money was its own. Because this industry has consistently proven itself to be untrustworthy, it is essential that guidelines be established for what these firms can and cannot do, and what the limits are to be for the compensation of the individuals working in them. After all, these are PUBLIC corporations and are owned by the public and as such need to be accountable to those whose money they are using. The biggest problem as i see it, is that there is so much "incestuous" behavior with respect to who gets to be on the board of directiros in these companies. The boards are comprised of people who are on each others' boards and they take care of one another as a club.

Another huge agency is not needed... how much will that cost us taxpayers?

I understand regulation is needed, but do you really think it will control and monitor anything?

The people put in control can be just as corrupt and greedy as the banksters themselves... so I doubt all these czars and new huge agencies are really needed or necessary.

No bank or business should be too big to fail, period.

Yet another government agency to supplement other malfunctioning government agencies? We are increasingly becoming a country of the government, by the government, and for the government.

Yes, I think this is just another example of our government, paying twice for the same thing. We already have the SEC to oversee the financial market. They just did not do the job so fire them and hire people who will do the job.
I also would like to know why the mainstream media has not even began to look into the firing Gerald Walpin?

This is just another example of the government paying twice for the same thing. We already have the SEC to monitor the financial market, if they are not doing the job, fire them and get new people. Don't duplicate the same service. The administration didn't have a problem firing Inspector General Walpin! Why have we not heard anything about this on your news network? Or any other mainstream news station.

We citizens can only hope that the presidents proposals have been based on sound reforms, if we can trust his Chicago-Clinton cabinet on any given issue...their past track record has been anything but stellar. Congress gave the prime players in the financial crisis carte-blanche to work their Ponzi schemes and frauds...let us not forget, while the principles of the Federal Reserve stood by and silently watched. These are the institutions that need reform. Timothy Geitners nomination to the cabinet sent Obama's message to the "good ol' boy's financial network", that "Hey guy's its going to be business as usual."

Until Obama fixes the malfunctioning and broken parts of the government regulatory and legislative machine, any further empowerment of the Federal Reserve will only serve to create another "out of control bureaucracy". Some deep thought needs to go into these actions before the president "fires" up his new machine. If you are going to have increased regulation, you need to have people in place capable of enforcing them, and with the wisdom to know when to do it!!!

The government got us in this situation with "regulations" in the first place! Why don't they start regulating congressional terms with term limits? They could help out the budget by paying congressmen and women the same as the enlisted military. Since an E-5 (1st level non-commissioned officer) in the military only makes around $2500 per month and the low-level congressman makes about $14,500 per month, that will save about $12,000 per month or $144,000 per year per congressman or woman. That's $77,040,000 saved for the entire year!

As if the Federal Reserve System doesn't have enough power already. Don't forget your show guest came from the the Federal Reserve Bank, and he already has an incredible amount of authority that has been handed over to him with the office he now holds as the Treasury Secretary. I think this is a bit of redundancy which may possibly have significance with some future scenario to insure that the power he now holds remains with him and the President and that they don't have to answer to anyone else.ch

Let's Support HR 1207’s (to Audit The Fedreal Reserve System) identical companion bill in the Senate whi is known as S 604, the Federal Reserve Sunshine Act, sponsored by Sen. Bernie Sanders.