Josh Rosner is one of the more knowledgeable people about the US banking system and this interview cuts straight to the point: the Obama admin is doing nothing so far to reign in the Fed or the banking rules that caused the disaster of 2005-2009 and beyond. So far Obama's leadership is a huge disappointment in this crucial area. So much for the audacity of hope; very frustrating to watch as so many regular citizens are still unaware of the breach of trust and abuse of power here.
Joshua Rosner, managing director at Graham Fisher & Co., talks with Bloomberg's Matt Miller and Carol Massar about proposed U.S. financial stability legislation.
Watch the clip on Youtube here.
Hat tip: The Big Picture blog
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History has shown that blind faith in leaders is a very dangerous thing. I believe that after 8 years of President Bush, the American People and the world for that matter were so desperate for change that they clung to the first 'good talking' person that promised it. Here we are well into the first year of the Obama presidency and yet we really haven't seen him delivering on his promises and the strange part is people are not calling him on it, nor do they seem to care. Deciding to give him the Nobel Peace Prize two weeks into his term highlights the kind of blind faith people have given him and the free ride he has enjoyed. I hope time proves him to be the leader so many hope he is…
What happens when someone with credibility voices concerns about the Big Banks, increasing deficit, accelerated spending? He gets silenced, thats what.
I always respected Paul Volcker for doing what was right versus what was popular. The man fought and won a war against inflation by raising rates near 20%, yet it seems the Obama Administration is more concerned about silencing him than heeding his advice.
http://www.cnbc.com/id/33607057