During a White House news conference Thursday, President Barack Obama said that the Occupy Wall Street demonstrations were proof people wanted to see tighter financial regulations.
“Obviously, I’ve heard of it,” the president said of the protests. “I’ve seen it on television. I think it expresses the frustrations that the American people feel that we had the biggest financial crisis since the Great Depression, huge collateral damage all throughout the country, all across Main Street and yet, you’re still seeing some of the same folks who acted irresponsibly trying to fight efforts to crack down on abusive practices that got us into this problem in the first place.”
“So yes, I think people are frustrated and, you know, the protesters are giving voice to a more broad based frustration about how or financial system works… [F]or us to have a healthy financial system, that requires that banks and other financial institutions compete on the basis of the best service and the best products and the best price and it can’t be competing on the basis of hidden fees, deceptive practices, or, you know, derivative cocktails that nobody understands and that expose the entire economy to enormous risks. That’s what Dodd-Frank was designed to do.”
“Do you think that Occupy Wall Street has a potential to be like the tea party movement going forward?” The New York Times‘ Jackie Calmes asked.
“What I think is that the American people understand that not everybody has been following the rules, that Wall Street is an example of that, that folks who are working hard every single day, getting up, going to the job, loyal to their companies, that that used to be the essence of the American dream,” Obama explained. “That’s how you got ahead, the old fashioned way. And these days a lot of folks who are doing the right thing aren’t rewarded and a lot of folks who aren’t doing the right thing are rewarded.
“And that’s going to express itself politically in 2012 and beyond until people feel like, once again, we’re getting back to some old fashioned values in which if you’re a banker, then you are making your money by making prudent loans to businesses and individuals to build plants and equipment and hire workers that are creating goods and products, that are building the economy and benefiting everybody.”
Watch this video from CNN’s Newsroom, broadcast Oct. 6, 2011.
Here are 7 wild, bizarre and pathetic moments from Trump’s ‘campaign launch’
On Tuesday night, President Donald Trump held a rally that was billed as the official launch his re-election campaign — though he has never really stopped holding campaign rallies.
As expected, the president ranted, lied, and engaged in the raucous attacks that are central to his connection with Republican voters. Some of it was actually just sad, such as his continued obsession with Hillary Clinton.
Here are seven of the wildest, disturbing and pathetic moments from the rally:
1. He said Democrats "want to destroy our country as we know it."
Trump casually accuses Democrats of "want[ing] to destroy you and they want to destroy our country as we know it." pic.twitter.com/4K79KlbEeR
British PM candidates clash over Brexit as Boris Johnson skips debate
Candidates to become Britain's next prime minister clashed over Brexit strategy at their first debate on Sunday but the frontrunner, Boris Johnson, dodged the confrontation.
The 90-minute debate on Channel 4 featured the five remaining candidates and an empty podium for Johnson, the gaffe-prone former foreign secretary and former mayor of London.
In sometimes ill-tempered exchanges, four of the five candidates said they would seek to renegotiate the draft Brexit divorce deal agreed with Brussels even though EU leaders have repeatedly ruled this out.
Michael Cohen ordered back to Congress on March 6
President Donald Trump's so-called "fixer" is being asked to return to Congress for more questioning on March 6.
Outside of the closed-door committee hearing Thursday, Cohen said that the House Intelligence Committee is seeking further information, according to Washington Examiner writer Byron York.
Michael Cohen finished closed-door testimony before House Intel Committee, says he's coming back for another session March 6. Again: No reason for secrecy. Transcripts should be released ASAP.
— Byron York (@ByronYork) February 28, 2019