Thursday, March 26, 2009

Obama holds Internet town hall; Geithner proposes super-regulation of all "asymmetric" financial institutions

President Obama held an Internet Town Hall today (Thursday, March 26, 2009), slightly over one hour in length. Over 10000 questions had been submitted (to the "Open for Questions").

The most popular question seemed to be about legalization of marijuana “to stimulate the economy” and the president said that this was not a good idea, yet the question must have been appreciated to be chosen.

There was a major question about employment of returning veterans, especially those that had been affected by the stop-loss policy and made several tours (a policy which is ending).

The White House Blog entry for the debate is here. Good show from our first "Geek President". (Again, I remember an English teacher at a Fairfax County high school who tells students, "relax, your first boss will probably be a geek", from Bill Gates's advice.)

The Treasury Department offered a press release today about the need for “super oversight” over all large financial institutions, including hedge funds and insurance holding companies, that can provoke “systemic risk.” AIG, after all, provided the perfect example of corporate asymmetry.
The link is here.

The CSPAN video link for Secretary Timothy Geithner’s remarks on total oversight to the House is this (about two hours).

Picture: crowd for a television pilot ("Washington Field"), on Potomac River; Barack Obama is "the man who wasn't there", for the movie take, at least. See TV blog for March 25.

1 comment:

SunflowerPipes said...

I respect Obama he is a talented politician, President Obama seems to posse’s insightful, reasonable judgment on many issues, although in the case of marijuana prohibition laws I find Obama’s choice to answer with mocking humor to be lacking. Smoking marijuana is an easy thing to laugh about, it seems there is something about being stoned that brings a smile to people’s faces, however marijuana prohibition is not a joke. We should not be making jokes as millions of Americans are arrested for being caught on the wrong side of moral politicking, we should not laugh as we spend over 30 billion dollars a year going after Americans for smoking weed, we should not giggle and poke fun as we watch billions of dollars in tax revenue slip through our fingers each year, and should we not be jolly as thousands of people are murdered by cartels profiting from America’s moral hypocrisy. I believe there are profound latent consequences in prohibition that are not even factored in to our assessments of the effects of illegality, such as how we view the rule of law and the role of law enforcement in the community, the divisiveness between users and non users, the stigma of mental shock of incarceration. I say pot prohibition is no joke it has real costs paid for in real lives. Freedom is achieved in a country by placing responsibility in the hands of the citizen and not by the state legally enforcing morality.