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Obama Cans Regulator Who Crossed Wall Street


US Politics & Gov't  (tags: President Obama, Wall street, Commodity Futures Trading Commision, (CFTC), Gary Gensler, CFTC head fired, too much oversight, derivatives market, U.S. regulation for swaps )

Judy
- 494 days ago - commondreams.org
Ouster is a gain for big bankers advocating lax oversight.



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Comments

Kit B. (276)
Wednesday June 12, 2013, 7:56 am

What a shame, a voice for the people is being shown the door. I don't care if keeping these banks and Wall Street in line, discourages trade. Or to be honest, it discourages the continued trade that sunk the economy.
 

Terrie Williams (774)
Wednesday June 12, 2013, 1:43 pm
Like I said....Obama is turning out to be the best President the Republicans have ever had. This makes me barf.
 

Joanne Dixon (40)
Wednesday June 12, 2013, 6:41 pm
How depressing. I am glad today that I am old.
 

Judy C. (108)
Wednesday June 12, 2013, 11:30 pm
From the article: "Gensler will be replaced by former senate staffer Amanda Renteria, who worked briefly for Goldman Sachs and has little financial oversight experience." That kind of says it all! Obama flubbed at first, and actually appointed Gensler, who doesn't want to play the finance industry's game of extortion with the American people. He's in a position to know the game, having once worked at Goldman Sachs. We can't have that! Bring on the clueless regulator!
 

paul m. (93)
Friday June 14, 2013, 2:58 am

Noted....
 

John Gregoire (257)
Friday June 14, 2013, 4:38 am
Obama the benificent and open President! Boy did we get a pig in a poke!
 

Arielle S. (317)
Friday June 14, 2013, 7:27 am
(shaking head) what is going on? This is not the man we elected president....
 

Pat A. (116)
Friday June 14, 2013, 9:31 am
"Wall Street fiercely opposes this regulation on the grounds that it discourages trade. Yet, supporters insist the regulation is necessary to give a modicum of oversight to vast swaths of the derivatives market marred by the same lack of regulation that paved the way for the 2008 economic collapse.

"Gensler was set to meet with European regulators June 20, and his dismissal could seriously jeopardize this proposal, the Huffington Post reports."

We don't need lots of trade that is so unstable that it causes economies to stagger to the brink of near collapse as just happened! Gensler should be saved not sacked - applauded and supported not criticised.

 

Billie C. (2)
Friday June 14, 2013, 10:29 am
the true obama stripes are finally coming out into the open. he's the same thug that was elected but they had to keep it secret and hidden until now since he can't get put back in office. that's our one and only shining light.
now you know everything in this administration has been kept a deep dark secret. we need some more whistle blowers to come out in the open and nail him to the wall.
 

Tim M. (0)
Friday June 14, 2013, 10:47 am
Nothing to see here, move along, go about your business. We know whats best for all of you. Come on move along its ok. Quickly someone bring up something different so they want focus to hard to long or they might see the man behind the curtain.
 

Dandelion G. (379)
Friday June 14, 2013, 12:05 pm
Wall Street fiercely opposes this regulation on the grounds that it discourages trade. Yet, supporters insist the regulation is necessary to give a modicum of oversight to vast swaths of the derivatives market marred by the same lack of regulation that paved the way for the 2008 economic collapse.

We had someone that wanted to help prevent more economic problems and Obama let him go.

If it isn't one thing it's another. I saw the writing on the wall with him but too many were afraid of the "other" guy. Which I agree, he was just as horrible, but neither had the People's agenda's in mind, it's all about the Greedy Ones agendas.

Can't you see people, how many back and forth ping pong matches do we need to go through with the two Parties that are BOTH slicing our throats. Fear, indeed, it is working, people are afraid all the time, so they loose more of their liberties and they keep sticking with the same two Parties out of fear the "other" one will get in.

It doesn't matter people, BOTH Parties with a few individual exceptions in those Parties don't give a rats arse about any of us. If we are not 1%, or a Corporation, we don't exist. Our needs are no concern until we are asked for our vote of approval.

Well he didn't get my vote nor did the "other" guy. I went 3rd Party. And I don't want to hear all those same lame excuses about 3rd Parties. If enough of the American people would FINALLY take a stand and dump both of the lame Parties that have gotten us into this mess, then maybe we might get this in a better place before all of us, except a few thousand, are living in tents.
 

Tim M. (0)
Friday June 14, 2013, 12:21 pm
Best dang thing I have read in along time. Thanks Dandelion G....... When you vote for the lesser of two evils all you get is more EVIL!!!!!!
 

firedup N. (0)
Friday June 14, 2013, 12:43 pm
I think this community organizer is a phony.....how sad...for everyone....Obama will be laughing all the way to the bank : (
 

Donna G. (38)
Friday June 14, 2013, 12:53 pm
On a different article, on another site, I made a comment sometime during Mr. Obama's first term about how I felt that he was the best President the Republicans could ever hope for and I got a lot of thumbs down for my comment.
 

Robert K. (31)
Friday June 14, 2013, 1:01 pm
The people who should never even have a government job are those who have ever worked on Wall Street with a job with responsibility. Guys from the mail room would be OK, but not brokers or executive officers or board members.

Remember when the Rethuglikans were parroting Frank Luntz and calling Obama the most liberal presidential candidate ever? While I was for him big time, it was only because he was a million times better than McLame and Mittens. Not because he was liberal.
 

Jamie Clemons (282)
Friday June 14, 2013, 1:19 pm
Do you still think Obama will do better his second term if we just give him a chance?
 

Birgit W. (147)
Friday June 14, 2013, 2:19 pm
Noted.
 

Jason R. (60)
Friday June 14, 2013, 2:44 pm
TPTB are afraid that we'll be onto the economic looting spree. I'm getting really pissed about Obama. He needs to be the whistle blower, not the chicken hearted sheep.

Can we get the other half of the country on our side yet? WTH are you waiting for?
 

Lois Jordan (56)
Friday June 14, 2013, 4:14 pm
So, was everyone just afraid to speak up while Bush was tanking the economy and spending our tax dollars on 2 waste-filled wars? While I hoped Obama would change the tide, he opted for more of the same. I also knew the bad writing was on the wall when he named so many from the Bush regime to important posts within his new admin. But, what can we taxpayers do? We write, call, sign petitions, protest on the streets....the corrupted Corporate media is the icing on the cake for Corporatist Fascist America now.

I agree with Dandelion's comment, but have said before that we must get Third Party candidates in Congress before they can run for Pres. and have at least half a chance. As long as the Good Ol' Boys Club is running the Pres. debates, it's not going to be easy to get third party candidates in those debates. So, I too, look forward to revelations from more whistleblowers....maybe they can at least keep the conversation ongoing, and more will become aware and add their voices.
One interesting thing I've been reading is that more are calling for impeachment. Just today I got another White House e.mailing asking me to click to support Pres. Obama. I couldn't do it. Wonder how many are opting out, and if it worries the White House team if they notice support falling?
 

Jason R. (60)
Friday June 14, 2013, 4:42 pm
I was full of hope too, Lois. Then we immediately saw the obstruction. Then we saw it let to be without a real knock down, drag out fight. Now, he/they don't even bother to try. They know, they always have the fox gang. They think they can skirt past the smarter ones with the division and talk of their revolution...as if the knuckle draggers can conquer those with righteous conviction.

We need to lobby for term limits or civic classes and a run off vote system. The 2 things that are their glue.
We are due for a lot of amendments to clarify our constitution with mandatory jail for abuse. (;

I can't support him anymore either. Fienstien is useless. Perhaps a right wing congress renders such. DC should be boiling hot right now. Like they used to do. When a constitutional democracy was the common goal for both sides.
 

Jason R. (60)
Friday June 14, 2013, 4:48 pm
Jamie et al, lets not lose sight of the House and the defiant bastard majority. They have the power to set the agenda to fix everything. They have the support/votes if they do it right. They are NOT. They only yell from a dark corner of the steps about how disgusted they are. Yeah...RIGHT!
 

Jason R. (60)
Friday June 14, 2013, 4:49 pm
Hey! Maybe if we join righty and the hate train, we can join and work government out! Naaaaa. No way.
 

Past Member (0)
Friday June 14, 2013, 5:06 pm
In keeping with the fascist corporate state.
 

Debra Tate (17)
Friday June 14, 2013, 5:25 pm
Noted! Obama again! How many more people will he fire if they don't agree with him! Anyone who sticks up for the American people gets fired, dies or is a traitor in Obama's book! But 6 Muslims in Key Security Positions in the White House is okay with him!!! Collecting info on your citizens and their churches but collects NONE on Muslim Mosques! Get this Muslim out of the White House BEFORE we become a Muslim nation! He discriminates against the American people! Impeach! Impeach! Impeach!
 

Melania Padilla (179)
Friday June 21, 2013, 6:56 pm
Thanks
 
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