Word: plan
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Almost every reference to the financial regulatory plan that was unveiled today by President Obama is prefaced with something along the lines of "the most sweeping overhaul of financial regulation since the 1930s." Obama himself used such language in his speech this afternoon...
...result is a reform plan that's clearly had a lot of thought put into it, and responds to many of the most obvious failings of our financial regulatory setup, but doesn't really change the way the financial game is played. The Federal Reserve would have more power to snoop around financial institutions that it thinks pose a systemic risk, the FDIC would get the power to take over and wind down non-banks, most over-the-counter derivatives would be forced onto exchanges, and capital requirements would be ratcheted up across the financial system. But the current alphabet...
...really big, bold change envisioned in the Obama plan is the creation of a Consumer Financial Protection Agency that would take over the drafting and enforcement of consumer financial rules from the banking regulators. This is a move proposed two years ago by Harvard Law School professor Elizabeth Warren, who is now chairman of the panel overseeing the Treasury Department's bank bailout. "It is impossible to buy a toaster that has a one-in-five chance of bursting into flames and burning down your house," Warren wrote in the journal Democracy in 2007. "But it is possible to refinance...
...President and his gay and lesbian supporters has gotten more complicated. Soldiers continue to be discharged from the military for being openly gay, and activists have voiced increasing concern over the Administration's lack of action on other key issues. "The particular and generalized concern is, What's the plan?" says Robert Raben, a Democratic lobbyist for several gay and lesbian groups. (See pictures of the history of the gay-rights movement...
...President Barack Obama - after meeting with South Korean President Lee Myung Bak in Washington on June 16 - indicated that the battle to contain North Korea's atomic arsenal is headed offshore. "This is not simply a U.S. policy - this is an international policy," Obama said of the evolving plan to search North Korean vessels suspected of ferrying arms or nuclear components. "This was part of what the [U.N.] Security Council resolution calls for - the interdiction of arms shipments...