LEHMAN BROS: CRISIS, AFTERMATH AND PRECAUTION.
We all remember the stunning slump of one of the efficient global financial-services. Certainly not incognito, the Lehman Brothers Holdings Inc. fallout affected so many sectors in the economy that we have all been led to believe the recession originate from the chapter 11 bankruptcy filed by the Lehman Bros. on Sep 15, 2008.
Let us stick to fact instead of rambling. Whether this theory does or does not tally with the fact we still have the same old Wall Street. yep! We got the same legislation, same companies "too big to fail", same merry-go-round, same lust to accumulate profit with an appetite... To be concise the same system under former President Bush era is still existing today. Wall Street supply his lungs with the same dioxyde of carbone.
President Obama came into office with full agenda from the American Recovery and Reinvestment Act- the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009- Helping Families Save Their Homes Act and now striving to pass the Health Care Reform Bill, the question still remain: is President Obama doing enough to thwart US against another crisis?
THE TEA PARTY INVADES US CAPITAL.
Ten of thousands of people gather in US capital saturday to reclaim the basic American value and protest against government out of control spending, the Obama tax-policies and his health care plan. They concern the direction the government is leading the people. They are marching with slogan such as "Obamacare makes me sick", “We the People." Others shouting “You lie, you lie." Some are even taking on the congresswoman Nancy Pelosi yelling “Pelosi has to go,".
The white house official denied being aware of who is the tea party; When and where they will march. Some democrats confirmed that the group is wrathful is pumped by conservative radio and TV talk-show host. Would this demonstration makes any impact on the actual political atmosphere?
REP. JOE WILSON OUTBURST
Representative from South Carolina Joe Wilson yells out " You lie” to the president during his address to a joint session of Congress. He did not waist a time to apologize to the president saying “This evening I let my emotions get the best of me when listening to the President's remarks regarding the coverage of illegal immigrants in the health care bill. While I disagree with the President's statement, my comments were inappropriate and regrettable. I extend sincere apologies to the President for this lack of civility.” This lack of courtesy from Rep. Joe Wilson and the strong republican opposition to the President Obama is about more than policy. We will found out in the weeks ahead.
HEALTH CARE ROLL CALL
Last night in a prime-time address to a joint session of Congress President Obama has kicked the health care reform right to the target. As he said he might not be the first President to face this issue but his determination will make him the last.
According the plan layed out by the President Obama, with only $900 billion , he assured not to add a dime to the deficit; that consummers can keep their current coverage if they want to. His reform would not apply to illegal immigrant. The Bill explicitly bans illegal immigrants from getting subsidies for health care. For those who loose their job or shift job they will be able to get coverage. And for those who do not have insurance he endorsed the public option which is simply an option, no one would be forced to choose it.
During his address president Obama recalled Sen. Ted Kennedy and his determination to get this issue solve from a handwritten letter that the Sen. Kennedy delivered to him before his death quoting that: " Health care reform is a great unfinished business of society."
Despite all the detail recollected, the republican party still denied that the President has reached out. The Gop and his leaders oppose all type of government run health care or any type of government bureaucracy and want to start the process over.
But for the president statut quo is not an option, it is time to act now.
OBAMA JOINT SESSION OF CONGRESS
It has been a harsh political summer for the President of United State. From Health care scuffle, czar resignation, to back to school speech controversy President Obama have had all. Now it is time to get down to business.
On Wednesday President Obama will address his join session of congress. This speech will decide the destiny of the health insurance reform. President Obama must united his own party, liberal democrat and blue dogs divided over the public option the other hand the republican who strongly oppose the bill. The aftermath of this speech will determine the fate of the democrat party. Stay tune.
OBAMA BACK TO SCHOOL SPEECH INDUCE CONTROVERSY
President Obama is scheduled to deliver a speech to student all across the nation on Tuesday. The 18 min speech of President Obama polarized on motivating students to work hard and complete school. As he said: "No matter what you want to do with your life, I guarantee that you'll need an education to do it,”. A gesture from the white house that has fired up the conservative base saying that the president is trying to sale his political agenda. They are even encouraging students parents to sabotage the president speech or keep their kids at home. The secretary of education department Arne Duncan said those allegations are silly knowing that this is not the first time a president delivered a nationally televised speech to students. In November 1988, President Reagan did it; in the fall of 1991 President George W.H Bush also gave a national speech to students motivating them to stay drug free.
