Black People Politics : Obama on new law: 'No more taxpayer bailouts'

Discussion in 'Black People Politics' started by $$RICH$$, Jul 21, 2010.

  1. $$RICH$$

    $$RICH$$ Lyon King Admin. STAFF

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    Obama on new law: 'No more taxpayer bailouts'

    After more than a year of effort by its advocates, President Obama signed the Wall Street reform bill into law Wednesday, promising that the measure will put an end to taxpayer-funded bailouts of failed banks.
    "Because of this law, the American people will never again be asked to foot the bill for Wall Street's mistakes," Obama said in a ceremony at the Ronald Reagan Building in Washington. "There will be no more taxpayer-funded bailouts. Period."
    Considered the most sweeping overhaul of the financial system since the New Deal, the law immediately gives regulators stronger powers to break up financial companies that have grown too big.(Want to know what happens next? Read about Wall Street reform's timeline.)
    Among its many provisions, the law also attempts to shine a light on complex financial products called derivatives and creates a new consumer protection agency that will set rules to curb unfair practices in consumer loans and credit cards.
    "These reforms represent the strongest consumer financial protections in history," Obama said. "And these protections will be enforced by a new consumer watchdog with just one job: looking out for people .
     
  2. Ankhur

    Ankhur Well-Known Member MEMBER

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    It seems as though according to investigative journalist Dahr Jamail,
    that BP will make its 20 billion outlay for damages a simple corporate tax write off that the public will pay for,

    foot the bill, in otherwords, for a bail out for BPs mess,
    www.rikkott.com, www.dahr.org
     
  3. river

    river Watch Her Flow MEMBER

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    BP is a British company. To my knowledge it pays taxes to Britain. How can it get a tax writeoff in the US when it doesn't pay taxes here?
     
  4. river

    river Watch Her Flow MEMBER

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    This guy has more teeth than I thought. ^5 Obama.
     
  5. Ankhur

    Ankhur Well-Known Member MEMBER

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    please check the links

    I heard this today on www.wbai.org at the time of the post and they talked about this in detail, the show has an archive but , please do understand that whe it comes to corporate, government colusion, there is a telephone book of stuff that we know should not go on but goes on and will go on.

    The show is archived
     
  6. river

    river Watch Her Flow MEMBER

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    The first link is broken. The second link talks about the working conditions of the clean up but I see nothing about the tax write off. Can you provide a direct link?
     
  7. $$RICH$$

    $$RICH$$ Lyon King Admin. STAFF

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    The tax bailout isn't about BP but the facts of people who pay for the failing banks
    and crap that happen and falls on wallstreet , basicly no more cover-up for wallstreet mistakes and then the people pay the cost.
     
  8. Ankhur

    Ankhur Well-Known Member MEMBER

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    the show was "Ecologic" aired at 11:00 AM and the archive can be freely downloaded
    http://archive.wbai.org/

    Tuesday July 27 11:00 AM
     
  9. river

    river Watch Her Flow MEMBER

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    When smaddy says they have information that nobody is supposed to know my first question is well how do you know.

    There is no way the government can make the taxpayers foot the bill for BP and nobody will know about it. It will leak. This would be political suicide for Obama. Do you really think he would do something that dumb?

    Let's say you have a house and a family. Smaddy going to come to your house, spill gallons of oil all in your house and you going to sneak and make your family pay to clean it up when you don't even know how you going to pay the bills you already have? Come on man. What possible benefit could you get from that? If you going to sneak and do something at least get some benefit out of it. Why would he sneak to shoot himself in the foot?
     
  10. Light

    Light Well-Known Member MEMBER

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    Taxes are a joke


    BP and Exxon are the same company....

    Look into south afrika in the 1950s and 1960s....
     
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