Obama Promotes Tougher Rules To Protect Consumers
535 views · Published 19 September 2009 · 4:59 · Indexed 20 September 2026
Channel: The Uptake by Bridgemakers · 2009 · News & Politics
Leaders of the worlds largest economies will gather next week in Pittsburgh for the second time this year. The first meeting of the G-20 nations in April came at the height of the global financial crisis a crisis that required unprecedented international cooperation to jumpstart the worlds economies and help break the downward spiral that enveloped all our nations. At next weeks summit, well have, in effect, a five-month checkup to review the steps each nation has taken separately and together to break the back of this economic crisis. And the good news is that weve made real progress since last time we met here at home and around the world. In February, we enacted a Recovery Act, providing relief to Americans who need it, preventing layoffs, and putting Americans back to work. Weve worked to unlock frozen credit markets, spurring lending to Americans looking to buy homes or cars, take out student loans, or finance small businesses. And weve challenged other nations to join us not only to spur global demand, but to address the underlying problems that caused such a deep global recession in the first place. Because of the steps taken by our nation and all nations, we can now say that we have stopped our economic freefall. But we also know that stopping the bleeding isnt nearly enough. Our work is far from over. We know we still have a lot to do here at home to build an economy that is producing good jobs for all those who are looking for work today. And we know we still have a lot to do, in conjunction with nations around the world, to strengthen the rules governing financial markets and ensure that we never again find ourselves in the precarious situation we found ourselves in just one year ago. As I told leaders of our financial community in New York City earlier this week, a return to normalcy cant breed complacency. To protect our economy and people from another market meltdown, our government needs to fundamentally reform the rules governing financial firms and markets to meet the ...
