Obama will veto Finance Reform
Finance July 19th, 2010
WASHINGTON – President of the United States (U.S.) Barack Obama said he would veto any legislation existing financial, if it does not contain “real reform” in the financial sector. On this, his government would overhaul the country’s banking system is power, the economic crisis during a large scale.
“We can not allow financial institutions, including taking your deposit, to take risks that threaten the entire economy,” he said in a national television the State, as quoted by AFP on Thursday (28/1/2010).
Obama urged policy makers to pass a bill (draft law) which would give new powers to tighten regulations made the government to liquidate the company, increasing capital requirements, and the limit of short-term debt held by banks.
“The housing sector has passed, with the introduction of financial reform is a lot happening this change,” Obama said in an article entitled Obama makes a State of the Union address
“Well, we can not let them win this battle. If the bill that ended at my table did not meet the test of real reform, I will send it back until we get it right,” he said.
This is in response in the face of widespread public anger at huge profits and bonuses that were reported by banks redeemed by the government, Obama has started a new year with measures to limit the size of financial firms deemed too big, “in an article titled Obama demands employment legislation without delay
He also vowed to separate investment and commercial banks, and introduced the largest levy financial firms to cover approximately USD700 billion in money that comes from restribusi taxes, such as the banking sector had fallen verge of collapse. In addition, Obama will promise poured $ 30 billion for small business.
But Obama denied his government had launched an attack on the financial sector. “I’m not interested in punishing the bank, I’m interested in protecting our economy,” he said.
