President Obama To Crack Down On Wall Street Firms Who Have Received Federal Funds
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From all accounts, Republicans and Democrats alike, President Obama has conducted himself very presidential and his approval rating continues to climb. He is taking topics, such as economic policies, torture, Iraq, disclosure and transparency very seriously. In fact, in his short time as President, in addition to his daily intelligence meetings, President Obama has now scheduled daily economic meetings with his economic advisors.
President Obama is very mindful of how the public reacts to the daily news; and instead, of being passive as America has been in the past, ostensibly it appears Obama is going to take a proactive approach in attacking outstanding issues and other such items on the horizon.
For example, recently, President Obama mentioned that he did not like the elaborate spending by Wall Street executives, which he was likely referring to what ousted Bank of America (NYSE: BAC) executive and former Merrill CEO, John Thain, paid for his office re-decorating project. Without citing anyone in particular, Obama said recent reports "about companies that have received taxpayer assistance, and then going out and renovating bathrooms, or offices, or other ways not managing those dollars appropriately" show the need for more scrutiny.
In addition, to Obama making the above comment, Obama criticized the way some companies who are in receipt of federal bailouts are spending their money, and he said stricter accountability will and must be part of any future assistance.
The question that now arises, are his above comments typical politician speak or will Obama act on his strong remarks? For all our sake, I hope it is the latter.
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