President Obama signed legislation aimed at curbing financial fraud in the mortgage industry including a provision that created an independent panel to investigate the root causes of the nations economic downturn back in May of 2009.
Obama also said in his 2012 State Of The Union Address that he would create a commission of 55 lawyers to look into the causes of the mortgage crisis.
So what has been done up to date?
Nothing. Zero. Zip. Nada. He's had time to scout for vacation spots though.
Since May of 2009 nothing has been done, but it sure sounded great when he said it, didn't it????
Looks like the only thing Obama has done is accuse bankers of being greedy and give speeches about how the rich are screwing everyone.
He also promised to help people that were underwater on their mortgages calling it Cramdown. Looks like he didn't do that ether. As a matter of fact he was asked to take this on while the Dems had a majority, but instead Obama wanted to take that on later. Larry Summers, Obama's former economic adviser eventually said that he was not supportive of the idea.
But hey, it sure sounded great when he said it......didn't it?
When you think about it......nobody has really said exactly what caused the financial crisis. Nobody can say exactly what took place.....even though a paper-trail is out there. It should be something that has been investigated but it hasn't. All we know is that banks are bad and deserve to be punished but the actual guilty parties have never been investigated, punished, fined, whatever.
Why is that?
I know, but do you????
Seems all he does is promise this and promise that...
...but Hey, he got Bin Laden, didn't he???
Links
Tell President Obama: Investigate the banks!
Dems: Obama Broke Pledge to Force Banks to Help Homeowners - ProPublica
Obama Signs Financial Bill, Creating Investigative Panel - NYTimes.com