Unemployment continues to rise

[1bad65]

The only way he could know what a group of bankers told Obama would have been if he was sitting in on the meeting.

Actually all I did was read a Reuters story on the subject.

"President Barack Obama told top U.S. bankers on Monday they owed it to the country to help lift the economy out of crisis by lending more money to small businesses in need and embracing financial reforms.

"Given the difficulty that business people are having as lending has declined, and given the exceptional assistance banks received to get them through a difficult time, we expect them to explore every responsible way to help get our economy moving again," Obama said.

He said that meant finding ways to help credit-worthy small to medium-sized businesses get the loans they need. Obama said he was receiving letters from small firms saying they could not get loans.

Some analysts said credit availability was not the biggest problem.

"You can't create loan demand if people aren't confident in the economy," said Anton Schutz, president of Mendon Capital in Rochester, New York.
Davis said the firms "agree viscerally" more lending needs to be done but want to make sure they do not put the financial system back in harm's way.

White House spokesman Robert Gibbs acknowledged the banks are facing pressure from regulators to adhere to strict capital requirements that constrain their ability to lend."

http://www.reuters.com/article/idUSTRE5B92U520091214

You gotta just shake your head at the White House openly admitting banks are facing pressure from regulators that constrain their ability to lend, and then propose a solution of more regulations. Can someone maybe explain the reasoning here? I'll admit they have me confused.

[dimethylsea]

Yeah. I'm so ****ed off.. the second Obama took office 12 hours later we plunged into the deepest economic drop-off since the Great Depression.

We have 2 wars going on which HE started.. when the GOP was in charge it was a time of peace and plenty.


Oh wait a second. But let's not worry about the truth. Let's insist that the person elected to FIX problems caused by the Right must use the solutions of the Right to fix the problems caused by the solutions of the Right!

Right?

[BoulderDawg]

Isn't it amazing that dereguation is what got us into this and now the Teabaggers are screaming for more.

Hmmmm...wonder what would happen it I try to put out this fire with gasoline?

Their stragedy is a sound one. Since the economy is down Attack hard and blame it all on Obama, also use the radical leftist tag,

"Obama is black/Muslim right? He's got to be in cahoots with the Arabs and the commies both....no doubt about it!"

In the long run the tactic of playing to the fears of middle America about having a black leftist in the White House is what's going to win out.

[Kansuke]

Isn't it amazing that dereguation is what got us into this .

That's a lie

[1bad65]

Isn't it amazing that dereguation is what got us into this and now the Teabaggers are screaming for more.

That's a lie

Of course you're right Kansuke. And the White House said so. Again, from the article:

"White House spokesman Robert Gibbs acknowledged the banks are facing pressure from regulators to adhere to strict capital requirements that constrain their ability to lend."

[1bad65]

In the long run the tactic of playing to the fears of middle America about having a black leftist in the White House is what's going to win out.

I think the 10% unemployment rate might have something to do with it.

And I don't think secret, backroom bribes helped Obama out either. Especially after Obama lied during the campaign and said the health care dedate would be shown on C-SPAN. What happened to that promise of "transparency" and "open government"?

[BoulderDawg]

Maybe we should go back to the good ole days of John D Rockefeller. There was no regulations then. Of course you worked a 60-70 week, your 11 year old daughter worked at the company, you were probably swimming in toxic chemicals, if you worked for the meat package industry you knew it was like playing Russian Roulette to actually eat their product............Let's not mention price control, industry control and market control.

For a more recent example let's look at the S&L crisis. Deregulation to the max there....really worked well. A program started by Carter and fully embraced by Reagan cost us billions to bail them out.

Now lets look at the current crisis....options on options on options....only about 1 out of 50 people who work on the street actually understand it.

Now let's couple all of this deregulation with the recent supreme court decision. How is any candidate doing to compete against a candidate with a half billion dollars from Wall Street backing him? THe return to the John D days looks more like a reality all the time.

[BoulderDawg]

http://negotiationisover.com/2010/01...o-the-streets/

Sad to say but I agree with every word.

Mumia is right! We as liberals have simply gotten lazy:

I’m the babiest of the baby-boomers, and we are a pathetic lot, my generation of Americans. Some revolutionaries. We’re a bunch of tenured professors now. Those of us who didn’t go off to prison over racism, Reagan or Bush sure sold out with Clinton. We sold out all our prisoners in the 90s.

No doubt.

[1bad65]

Once again BD, I ask this:

If the White House is saying "pressure from regulators" is part of the problem, why in the world are more regulations now the solution?

[1bad65]

Mumia is right!

You've went from worshipping a wife-beater to worshipping a cop killer.

[BoulderDawg]

Once again BD, I ask this:

If the White House is saying "pressure from regulators" is part of the problem, why in the world are more regulations now the solution?

Who cares what comes out of the White House? Obama is conservative at heart and seems to be afraid of the right.

[1bad65]

"I’m the babiest of the baby-boomers, and we are a pathetic lot, my generation of Americans. Some revolutionaries. We’re a bunch of tenured professors now. Those of us who didn’t go off to prison over racism, Reagan or Bush sure sold out with Clinton. We sold out all our prisoners in the 90s." -cop killer Mumia Abu-Jamal

Sound like your new hero isn't a big fan of your old hero.

[1bad65]

Who cares what comes out of the White House? Obama is conservative at heart and seems to be afraid of the right.

I notice you were defending his policies earlier.

He isn't afraid of the right, he is afraid of the voters. He may be clueless when it comes to the economy, but even he knows what happened Tuesday in Massachusetts meant.

[BoulderDawg]

I don't understand. Is "Cop Killer" some sort of code for political prisoner?

[BoulderDawg]

He isn't afraid of the right, he is afraid of the voters. He may be clueless when it comes to the economy, but even he knows what happened Tuesday in Massachusetts meant.

I don't know anything about that. Here's Mumia's take:

It was never going to come from high offices or the White House. That’s why it’s taking so long for us to get anywhere – we keep following the other guy’s leaders. Wake up, everybody – they let him in; we didn’t really put him there. The Change will have to come from us. We are the ones who abandoned our elders and revolutionaries, our poets and dreamers. Our real activists. We’ve left their executions to the next generation.

Of course, the white power structure allowed this man to be President. Any true change will have to come from us.