Thursday, March 27, 2008

Obama calls for $30 billion stimulus

clipped from
Democratic presidential candidate
Barack Obama called for greater government regulation of the
U.S. financial system on Thursday and proposed a new $30
billion economic stimulus plan to help homeowners.
Obama said an era of financial deregulation had created
conditions that led to the housing and credit crisis that has
pushed the U.S. economy to the brink of a recession.
"It is time for the federal government to revamp the
regulatory framework dealing with our financial markets," the
Illinois senator said in a wide-ranging speech on the economy.
"Our capital markets have helped us build the strongest
economy in the world," Obama said. "They are a source of
competitive advantage for our country. But they cannot succeed
without the public's trust."
He outlined six "core principles for reform" that he would
pursue if elected, led by this one: "If you can borrow from the
government, you should be subject to government oversight and
 blog it

No comments:

Post a Comment