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U.S. President Barack Obama called for "bold, comprehensive and coordinated action" to end a global economic downturn on Tuesday as he prepared for an evening news conference to explain his recovery strategy to a recession-weary public.
Writing in a column published in 30 leading newspapers around the world, Obama urged leaders of the Group of 20 major economies to follow the U.S. lead by taking action to stimulate their economies until global demand is restored.
The Obama administration will ask Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy, White House spokesman Robert Gibbs said this morning. Source
Originally posted by liveandlearn
I wonder if this is what Biden was talking about when he said Obama would have to do something and the people won't like it but later will say it was the right thing to do.
I have known intellectually that we peons have no voice but this has struck home so hard that I have to own the knowledge. Where do you go from here? How do you fight this? Or, do you just tuck your tail and get outta Dodge?
Today, President Obama arranged for an op-ed "on the urgent need for global economic cooperation" to run in more than 30 papers around the world, under distribution from Tribune Media Services. The move comes on the heels of Obama's YouTube Nowruz message to the people of Iran, and as his outreach to niche media at home -- another extension of the campaign strategy -- picks up steam.