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Rep. Barney Frank stated that he hoped legislation could be completed “early next year” that would pave the way for a new approach to financial regulation. In his testimony, Chairman Bernanke asked Congress to write legislation that would give the Fed greater authority over investment banks. Both Paulson and Bernanke called for clearer Fed authority over payment and settlement systems in financial markets.
Barney Frank, chairman of the House committee, argued that the era of deregulation was over, and that "regulation done right" was in fact pro-market. He praised Paulson and Bernanke for their handling of the credit crisis and the Bear Stearns collapse.
Originally posted by Cio88
If McCain or any other republican would have been in office it would be on their hands.
But with Obama in office .. if he says he is mad at this , then everyone agrees and sides with him.
There will be no words in opposition to Obama.
Originally posted by asmall89
reply to post by resistor
Oh sorry I should have thought through my post more clearly or explained it more. The reason it would have helped them get elected is through MSM if one of them did not vote for it, I bet you MSM would have had to say something about it. Like if McCain didn't he would have been seen as a Herbert Hoover. Mainly the media would have painted them as do nothing politicians.
Not to mention they were threatened with Martial Law if they didn't vote for it.
I am saying that I think it's hypocritical for Obama to criticize a result of something he voted for.
Originally posted by resistor
And what's hypocritical is for Obama to act outraged after having supported the theft.
Originally posted by earlywatcher
If Obama didn't know about the misuse of bailout funds by recipients, I wonder what planet he's on.
If I can learn the details using my little home computer why can't he?
I repeat, if I knew, surely Obama with his Dream Team must have known.