We need to have Obama's back on the Volcker Rule

[DrToast]

I've often been critical of Obama for taking the easy road on too many things, but today he really picked a fight with the banks and nobody can say financial reform is "just for show" anymore. In other words: IT'S ON, MOTHERFUCKERS!

*ahem*

Sorry. Simon Johnson can put it more eloquently:

The serious debate with big finance is just beginning; it will get very nasty, hundreds of millions of dollars will be spent, and everyone, in the end, must take a side.

What we need is for sensible legislation to come to the floor of the Senate and for all senators to go on the record, in detail.

A public debate of historic proportions -- the kind that shaped this republic -- will set up the Democrats for the midterm elections. If you would like to run on a pro-too-big-to- fail platform, go ahead.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aXFENT6n36TI

This is real change, folks. This is FDR-style, taking the fight to them "change you can believe in." In some ways, this is tougher than anything FDR ever did because the banks today are more powerful than they ever have been. And they're pissed.

I got your back, Obama. Let's roll.

[Jennicut]

1. It is a fight that will benefit us and will benefit Obama politically.

Congress needs to have his back though.

[Cha]

2. Pres Obama is doing it for our country.

[BeyondGeography]

3. Really, fuck SCOTUS. This is where.it's.at.

Change the world while we're at it:

http://www.guardian.co.uk/business/2010/jan/21/uk-considers-obama-banking-rules

[FogerRox]

4. Will Giethner publicaly support this?

A little birdy tells me TImmy needs to go.

[rockymountaindem]

5. I'm there. I thought health care was a debacle, but I'm down with this

See everybody? I'm open-minded :)

[BP2]

12. You're right, Rocky. Health care was a debacle. So was Cap and Trade. Here's hoping

they can be more effective with this than they've shown us thus far with their failures.

[gateley]

6. I'm honored and proud to stand with him on this. He has my total support. nt

[OHdem10]

7. Today when I saw Obama flanked by Voker and Biden and all the

right people as he made the announcement on Bank changes, I
had the best feeling for this country I have had in a while.

Volker will do the right thing for the country,irregardless.
Sometimes that can be tough love, but he is trusted.

Yes, we do need to have his back.

[Hello_Kitty]

8. Free Republic has weighed in on this, and I think it's clear where they stand

“If Wall Street doesn’t grow a pair of nads now, they are forever doomed.”

http://wonkette.com/413237/413237#comments

Yes, poor, poor Wall Street. :nopity:

[Lugnut]

9. I'm in. n/t

[nofurylike]

10. yes! i'm in! thanks, DrToast! k&r

[BP2]

11. Can Barack enact most of this with Executive Order? Because if he can't, he's going to

have to get it past the 40 Pukes (and LIEberman), who can now block any legislation they
don't like.

[FrenchieCat]

14. So let them be on the side of the Banks.

We'll see where that gets them.

[MannyGoldstein]

13. Only If There Are Signs That This Is Not Make-Believe

Until Larry, Timmy, and Rahm are fired, I see zero reason to believe this is any more real than anything else that's come out of Obama's pie hole.

[martymar64]

26. I'm with you on that.

So he's made a speech on it. Good. Now actually do something about it.
Talk is cheap. We elected him to take action, no surround himself with yes men and snakes and preserve the status quo. The polls following the MA election prove our point that the people want him to do more and are willing to punish him if he ignores them like he has this past year.
I hope he got the point and will finally start doing what we all elected him to do.

[TheKentuckian]

15. I've got his back 1000% anytime he is doing the people's business

and/or taking a bite out of corporate influence. This is such a time.

[depakid]

19. Absolutely

[ima_sinnic]

16. I'm with him unless/until he goes all "bipartisan" on our asses

then I'm out

[Clio the Leo]

17. lol, yes, how dare he try to push legislation that could actually pass. NT

[ima_sinnic]

18. no, how dare he be bold and suggest and push something of his own

instead of some weak, watered-down, compromised piece of crap?

he seems to like to begin from a position of compromise instead of standing up for anything.
then he has an "excuse" for getting nothing done.

so lol yourself. you--and he--just don't get it. it's one thing to try to push for something bold, and then have to tweak it or make some changes, but to start out weak is just dumb.

[TheKentuckian]

22. The thing is we have to actually fix some of this stuff

You can't always kick the can down the road or get a half a loaf because there is no incremental solution to a reactor meltdown.

[Tom Rinaldo]

20. Very true.

I can multi-task. The Obama administration deserves praise and support for this move even if there are other fronts it is open to criticism on. This issue is a fight we can believe in.

[glitch]

21. +1 nt

[backscatter712]

23. Hopefully Obama kicks some ass on this one.

I'm optimistic in that Obama may have finally bought a vowel, solved the puzzle and realized that Wall Street needs to be put on a short leash, no matter how much kicking and screaming is required to make it happen.

Let's hope so.

[golfguru]

24. IMHO the BEST initiative from the president so far!! eom

[donheld]

25. I got it.