April 19th, 2010
09:57 AM ET

White House: Obama to speak on Wall Street

The White House just released a statement by Press Secretary Robert Gibbs that President Obama is heading to Wall Street on Thursday this week.

"On Thursday, President Obama will travel to New York City where he will deliver remarks at Cooper Union on Wall Street reform," the statement said. "Almost two years after the crisis hit and almost one year after the Administration first laid out a detailed plan for holding Wall Street accountable and protecting consumers, he will call for swift Senate action. The crisis has already wiped out trillions of dollars in family wealth and cost over 8 million jobs. The President will also remind Americans what is at stake if we do not move forward with changing the rules of the road as a part of a strong Wall Street reform package."

soundoff (70 Responses)
  1. Ermi

    Bravo! Mr. President..... May God Be with you on all your efforts to straighten up this great country.


    April 19, 2010 at 5:43 pm | Report abuse |
  2. Tom, Bradenton,FL

    No Goldman Sachs owns Obama educate yourself it is public record. Goldman Sachs #1 contributor to the Obama campaign and bail out recipient. Liberals and Conservatives are uneducated. Independents GO.

    April 19, 2010 at 5:52 pm | Report abuse |
  3. Jody Herrin

    With the reform of health care, I honestly was able to understand the arguments of the opposition. I didn't agree with most of their points due to fundamental differences in worldview, but I could understand them.

    This issue is one I can't see anyone being able to argue with. I'm all for the free market, but even a free market has to have RULES it must then ABIDE BY. That's all this is: these are the rules, you can't break them, and these are the penalties. I can't seem to understand the mindset of people who would oppose legislation like this–the system as-is is nothing but a conduit for elite control.

    In recent months here in Alabama, elected officials and other corrupt civilians (middle men between politicians and banking interests) have been sent to prison for myriad corrupt practices, and their cohorts in the banking sector are well-known. Yet no one from the banks is punished at all. Why is this? They shouldn't have a second set of rules, and if you are anyone other than one of the very few with so much power, this should make you angry. You are being robbed by the banks too, no matter how much you might hate President Obama and would hate to admit that he's right about reigning in Wall Street.

    All anyone can do in opposition is throw around a few buzzwords ("socialist"), and that's how the argument goes, essentially. Sadly for those without original thoughts, buzzwords start losing some of their power once you use them over and over.

    And we clearly tried out the "let em play ball" mentality with our economic policy for eight years–that's how the mess got started in the first place. We didn't keep a watch on the private sector, because to do otherwise would be an unholy affront to the sacred institution of laissez-faire. And what happened? Like always, individual greed took hold and the rest, as they say, is history. You can't keep doing the same thing and expect different results. I believe it was Mr. Einstein who phrased it a little more nicely than that, but the point is the same.

    April 19, 2010 at 5:56 pm | Report abuse |
  4. frank

    President Obama is certainly an interesting combination of political pragmatist (not even close to a Socialist), well-educated lawyer, and articulate spokesman for the common good of Americans. One does not have to have worked on Wall Street to know that financial market oversight is the only way to control greed, political manipulation (currently of the GOP), and power urges which dominate lower Manhattan. I have practiced law there and know many folks in the merchant and investment banks and, no surprise: it IS all about money.

    April 19, 2010 at 5:57 pm | Report abuse |
  5. Geoffrey Paugam

    Let the man do his thing. He became president for a reason. People wanted change and that is exactly what he is giving us. Stop living in the past.

    April 19, 2010 at 7:09 pm | Report abuse |
  6. Susie

    How can anyone believe what he says. He took almost a $1million dollars in campaign funds from Goldman Sachs. This speaks volumes as to the back door deals he is making with the Wall Street Crooks. If he reallly wanted to help, he could force the banks to reduce principals and stop the foreclosures.

    The banks have no incentive to help people because they are making more money taking the homes back and getting paid on the insurance policies purchased when they purchased insurance on the loans they knew were going to go bad.

    Obama is not interested in really helping people he is a crook just like the rest of them and all you libtards who believe anything different and just plain sutpid.

    April 20, 2010 at 3:00 pm | Report abuse |
  7. William Percy

    CMKX / CMKM Diamonds went through the largest "NAKED SHORT" IN THE HISTORY OF THE WORLD. The rules on Wall Street are so lax and non-existent that the filthy and crooked Brokers, Market Makers, Hedge Funds and Investment Firms are able to......"RAPE".......... billions of dollars every day from small investors. Check out....Phantom Shares...........by Bloomberg Business Reports on the Web and give yourself an education. The SEC is holding 3.87 Trillion dollars from being released to CMKX / CMKM Share holders. RELEASE OR MONEY NOW..................DO YOU HEAR ME............RELEASE IT NOW

    April 21, 2010 at 11:58 am | Report abuse |
  8. philip b

    The fact that he took a million dollars and is still willing to regulate them shows he's not on the take. He just accepted a gift...no strings attached.

    April 21, 2010 at 12:47 pm | Report abuse |
  9. philip b

    "A democracy is always temporary in nature; it simply cannot exist as a permanent form of government. A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury. From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, which is always followed by a dictatorship."

    Alexander Tyler

    April 21, 2010 at 12:51 pm | Report abuse |
  10. John Wayne

    Everyone quit saying GOOD JOB MR PREsident! Like the politicians are any better. The only reason Washington is doing this is because it benefits them. I trust them just as much as i trust guys from Wall Street. And if you dont, just think back on all the political scandals.Lets just hope this reform doesnt take us back to the banking industry before deregulation. If it does, this Country isnt going to be nothing.

    April 23, 2010 at 5:30 pm | Report abuse |
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