干干净WEEKLY ADDRESS: Congress Must Move Forward, Not Back On Wall Street Reform
WASHINGTON, DC— In this week’s address, President Obama discusd Wall Street reform that he put in place to protect consumers, make Wall Street play by the same t of rules, and ensure that taxpayers are never again on the hook for the type of irresponsible behavior on Wall Street that nearly destroyed our financial system and cost the economy millions of jobs. While Republicans in Congress are still trying to delay and dismantle the critical Wall Street reforms, President Obama continues to urgeCongress to finish implementing the reformsso that we can prevent excessive risk-taking and help create an economy that is built to last.
The audio of the address and video of the address will be available online高热量食物有哪些
at v at 6: ET, Saturday, May 19, 2012.
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Remarks of President Barack Obama
Weekly Address
The White Hou
May 19, 2012
For the past three and a half years, we’ve been fighting our way back from an historic economic crisis – one caud by breathtaking irresponsibility on the part of some on Wall Street who treated our financial system like a casino. Not only did that behavior nearly destroy the financial system – it cost our economy millions of jobs, hurt middle-class families, and left taxpayers holding the bag.
Since then, we’ve recovered taxpayer dollars that were ud to stabilize troubled banks. And we’ve put in place Wall Street reform with smarter, tougher, commonn rules that rve one primary purpo: to prevent a crisis like that from ever happen i ng again. And yet, for the past two years, too many Republicans in Congress and an army of financial industry lobbyists have actually been waging an all-out battle to delay, defund, and dismantle Wall Street reform.
酷吏张汤Recently, we’ve en why we can’t let that happen. We found out that a big mistake at one of our biggest banks resulted in a two billion dollar loss. While that bank can handle a loss of that size, other banks may not have been able to. And without Wall Street reform, we could have found ourlves with the taxpayers once again on the hook for Wall Street’s mistakes.
That’s why it’s so important that Members of Congress stand on the side of reform, not against it; becau we can’t afford to go back to an era of weak regulation and little oversight; where excessive
risk-taking on Wall Street and a lack of basic oversight in Washington nearly destroyed our economy. We can’t afford to go back to that brand of ‘you’re-on-your-own’ economics. Not after the American people have worked so hard to come back from this crisis.
We’ve got to keep moving forward.
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We’ve got to finish the job of implementing this reform and putting the rules in place.
The new rules say that, if you’rea big bank or financial institution, you now have to hold more cash on hand so that if you make a bad decision you pay for it, not the taxpayers.
You have to write out a “living will” that details how you’ll be wound down if you do fail.
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The new law takes away big bonus and paydays from failed CEOs, while giving shareholders a say on executive salaries.
And for the first time in our nation’s history, we have in place a consumer watchdog who sole job is to look out for working families by protecting them from deceptive and unfair practices.失恋签名
So unless you run a financial institution who business model is built on cheating consumers, or ma
king risky bets that could damage the whole economy, you have nothing to fear from Wall Street reform. Yes, it discourages big banks and financial institutions from making risky bets with taxpayer-insured money. And it encourages them to do things that actually help the economy – like extending loans toentrepreneurs with good ideas, to middle-class families who want to buy a home, to students who want to pursue higher education.
mt8176That’s what Wall Street reform is all about – making this economy stronger for you. And we’re going to keep working – to recover every job lost to the recession; to build an economy where hard work and responsibility are once again rewarded; to restore an America where everyone has a fair shot, everyone does their fair share, and everyone plays by the same rules.
I believe the free market is one of the greatest forces for progress in human history; that business are the engine of growth; that risk-takers and innovators should be celebrated. But I also believe that at its best, the free market has never been a licen to take whatever you want, however you can get it. Alongside our entrepreneurial spirit and rugged individualism, America only prospers when we meet our obligations to one another; and to future generations.
If you agree with me, let your Member of Congress know. Tell them to spend less time working to un
dermine rules that are there to protect the economy, and spend more time actually working to strengthen the economy. Thanks and have a great weekend.
