Obama gives very specific economic policy.

[Dinner]

Originally posted by DanS
It's a matter now of transparency so that we know the unknown risks, and standards-setting so that there is a systematic way of evaluating the information that will be disclosed.

No ****! What do you think he's said he wants to do? He's talking about creating greater transparency so that people know what they're buying and what their selling. To make it easier for everyone to know. Rewatch the whole speech because he talks about the need for greater transparency.

[DanS]

He does talk about transparency, and that's the small part that I agreed with (as I've already stated).

However, he talked at length about regulation (gov't) and none at all about standards-setting (private).

[Kidlicious]

I wonder what on earth could DanS be thinking. The banks have done fine regulated. Obama is proposing similar regulation for investment banks. Also, he's said that banking regulation is good.

[Dinner]

He did talk about the dangers of over regulation and of no regulation. He kept stressing sensible over sight and reasonable regulations without stifling progress.

[Kidlicious]

The think about standards is that a profession or industry can create them for themselves. But either way bankers are going to be creating the standards anyway, because the Fed is the banks basically. So I don't see any difference. Regulation is just something that can be pushed forward easier by govt.

[Dinner]

It's not worthy that the Bush administration is taking the exact opposite of Obama's stated policy. They're calling for more deregulation and elimination of oversight powers as if that would stop the sort of behavior which caused the bubble and the resulting crash.

No regulation is just as bad as to much regulation. What we need is reasonable oversight of the financial sector to prevent abuses getting to out of hand.