Talking the President’s Progressive Achievements #1 Dodd-Frank Act


by Terry Gresham

What has Obama done?  What happened to HOPE? Where has he been the last couple of years? How is a nation to survive? Where is this guy taking America?  Is there anything that this President has contributed to the great institution called America? Are average citizens safe in this country? How are we to get good leadership these days?   Is Obama out to make me look bad?  What?  What?  What?  Why?  Why?  Why?

These questions and more will be discussed in an Okieprogressive segment called:  Talking the President’s Progressive Achievements.

Segment 1:  President Obama Signed Landmark Wall Street Reforms into Law

Here’s one for ya.  President Obama signed legislation protecting American families from abusive and deceptive lending practices: The Dodd-Frank Act.

“The Dodd-Frank Act’s Volcker Rule would prohibit banking entities from engaging in proprietary trading of securities, derivatives and certain other financial instruments for the entity’s own account. The regulations have been jointly proposed by the SEC, Fed, FDIC and ODC – but their growing complexity has created increasing confusion among analysts, politicians, and bankers alike.” – http://wolterskluwerlbinfo.com

This means that, just like murder, armed robbery, burglary and shoplifting, “The Dodd-Frank Act’s Volcker Rule will prohibit banking entities from engaging in proprietary trading of securities, derivatives and certain other financial instruments for the entity’s own account.”  And here’s where things get good: these crocks may not be allowed to bring the world’s economy to an all out cash and burn scenario. That’s a good thing, no?

The Volcker Rule was first publicly endorsed by President Obama on January 21, 2010. The proposal specifically prohibits a bank or institution that owns a bank from engaging in proprietary trading that is not at the behest of its clients, and from owning or investing in a hedge fund or private equity fund, as well as limiting the liabilities that the largest banks could hold. Under discussion is the possibility of restrictions on the way market making activities are compensated; traders would be paid on the basis of the spread of the transactions rather than any profit that the trader made for the client. – Wiki

.

I don’t know about anybody else but I’m mad as hell. In the last couple of years here in Oklahoma, I haven’t done for my country anything matching this making it illegal to crash the world’s economy.

Damn  that Obama!  Curses!  In comparison, I ain’t done squat.

Well, that concludes this installment of …

Talking the President’s Progressive Achievements.

Tune in next time to take a look at President Obama’s:

  • Consumer Financial Protection Bureau
  • Ending U.S. combat operations in Iraq
  • Repaired relations with allies
  • Results on Environmental Policy
  • Leveling the playing field for workers
  • Landmark Wall Street reforms
  • Innovation and reform in public education
  • LGBT Equality
  • Equality for women
  • Fighting for working families
  • Health insurance for 32 million
  • Cutting health costs for small business
  • Regulating big tobacco
  • Ending Bush torture policies
  • Nuclear arms reduction
  • Ordering closure of CIA detention facilities
  • Getting a seat on UN Civil Rights Council
  • Doubling fuel efficiency standards
  • and more

Night Y’all,

Terry Gresham

See also:

Talking the President’s Progressive Achievements #2  Wall Street Reform

Talking the President’s Progressive Achievements #3  Wall Street Reform

Talking the President’s Progressive Achievements #4  Women’s Equality

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8 Responses to Talking the President’s Progressive Achievements #1 Dodd-Frank Act

  1. Jueseppi B. says:

    Reblogged this on The ObamaCrat.com and commented:

    For all you morons who say POTUS Obama IS IN THE POCKET OF WALL STREET & BIG BUSINESS & THE BANKING SYSTEM……READ THIS & GET YOUR FACTS STRAIGHT!! Thank You OkieProgressive!!!

  2. Charles Kolker says:

    Keep ’em coming, Terry!

  3. chicagoja says:

    Wall St reform is smoke and mirrors for the sheeple. There is so much ongoing fraud on Wall St and in government and worse the prisoners are in charge of the asylum. By the way, what has Obama done for the economy other than spending trillions that we don’t have
    to promote American colonialism around the globe and in the process bankrupt the country?

  4. shelley1laysi says:

    So I must ask, will this make all those blinders come off or are they “color blinders” that are really at the core of all the lies, fairy tales and wicked right wing distortion? This President could bleed blood of gold for this country live in front of a million cameras and witnesses and there are those who will still say he was never even born.

    Great piece Terry, looking forward to what’s to come.

    • okieprogressive says:

      Well, Shelly, since you asked…this might sound silly…I believe that a utopia complex has been growing for the last 40 years or so in the minds of many Americans.. The diluted see the far right wing of politics as being the champions or high priests of some new mythical fantasy land that is to be, similar to the cargo myths. They get things all in order and then something will happen..Neo-liberal economics, turning all gays straight, and magical thinking was to usher in a new state of money and wealth and bliss, and Jesus was supposed to be in the mix as well. This is why anything, even a Rockefeller Republican is label a socialist or something else they don’t know anything about. Our current President is standing in their way and threatens to undo all their hard work. It’s ,Manifest destiny,our modern version. They are blind to anything else. …see…I told you it would sound silly…You should have asked someone else.. ..

  5. Pingback: LIST: Obama’s Top 50 Accomplishments | RR – NEWS « okieprogressive

  6. okieprogressive says:

    Reblogged this on okieprogressive.

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