Obama: ‘Wall Street Reform Will Bring Greater Security To Folks On Main Street’
In this weekend’s YouTube address, President Obama promoted what he said would be the benefits of the financial reform bill currently being considered in the Senate, in the areas of consumer protection and institutional oversight.
“With reform, we’ll make our financial system more transparent by bringing the kinds of complex, backroom deals that helped trigger this crisis into the light of day,” said Obama. “We’ll prevent banks from taking on so much risk that they could collapse and threaten our whole economy. And we’ll give shareholders more of a say on pay to help change the perverse incentives that encouraged reckless risk-taking in the first place. Put simply, Wall Street reform will bring greater security to folks on Main Street.”
GOP Rep. Lee: ‘Less Spending, More Jobs: It’s That Simple’
In this weekend’s Republican address, Rep. Chris Lee (R-NY) criticized the Obama administration and the Democrats on the issue of the budget deficit. And Lee maintained that cutting federal spending would improve employment.
“So our choice is this: make the tough decisions required to put our fiscal house in order or continue to duck them. That’s why Republicans have proposed several initiatives to cut spending now and make Washington do more with less, just as families and small businesses are,” said Lee. “We have asked President Obama to use his authority under the law to force Congress to consider spending cuts. We have also imposed an immediate, unilateral earmark ban and called for the savings to be used to reduce the deficit. And we have proposed strict budget caps to limit federal spending on an annual basis. Less spending, more jobs: it’s that simple.”
Obama Honors Law Officers Killed In Line Of Duty
President Obama spoke at an event for Peace Officers Memorial Day, part of National Police Week, commemorating police officers killed in the line of duty. Obama said that Americans “rely on a certain order in our lives, a certain security that lets us sleep safely in our beds, walk around our neighborhoods without fear and to go about our daily lives without being a victim of crime. That sense of security doesn’t come on its own.” He added: “What makes it possible, what makes freedom possible, are the law enforcement officials.”
Report: Administration Proposal Would Delay Hearings In Terror Cases
The New York Times reports: “President Obama’s legal advisers are considering asking Congress to allow the government to detain terrorism suspects longer after their arrests before presenting them to a judge for an initial hearing, according to administration officials familiar with the discussions. If approved, the idea to delay hearings would be attached to broader legislation to allow interrogators to withhold Miranda warnings from terrorism suspects for lengthy periods, as Attorney General Eric H. Holder Jr. proposed last week.”
Geithner: European Debt Crisis Won’t Hurt U.S.
Treasury Secretary Tim Geithner told Bloomberg News that the United States can withstand the European debt crisis. “Europe has the capacity to manage through this,” said Geithner also saying that the turmoil would not damage America, because “our economy is getting stronger. We’re seeing a lot of strength, improvement and confidence.”
Conservative Friends Rise In Support Of Kagan
Some prominent conservatives are supporting Elena Kagan’s nomination for the Supreme Court. Miguel Estrada, a friend of Kagan’s who was nominated for an appeals court by President George W. Bush and blocked by Senate Democrats, wrote a letter in support of her to the Senate Judiciary Committee: “If such a person, who has demonstrated great intellect, high accomplishments and an upright life is not easily confirmable, I fear we will have reached a point where no capable person will readily accept a nomination for judicial service.”
Justice Kennedy Criticizes The Way SCOTUS Nominees Are Questioned
Supreme Court Justice Anthony Kennedy criticized the way in which Supreme Court confirmations are conducted, during an appearance Friday in Florida. “Just to ask questions to try to figure out how the judge would rule on a specific question seems to me a rather short-term exercise,” said Kennedy, answering a question from an audience member. “What you should ask is whether the judge has the temperament, the commitment, the character, the learning to assume those responsibilities.”
