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Obama says promising news from auto industry doesn't reduce need for reform

In his weekly address today, President Barack Obama said that while the government is ending many of the emergency programs put in place to stabilize the financial sector and restart lending, Wall Street reform remains urgently needed.

General Motors announced that it has repaid its loan to taxpayers with interest five years ahead of schedule, and Chrysler Financial has already fully repaid with interest its loan as well. While this is good news, it is also a reminder that the crisis in the auto industry was caused in part by problems in the financial sector.

To help prevent another crisis, Congress needs to enact reforms to hold Wall Street accountable and protect consumers.

Please click HERE for full video of the address.

To join a discussion or start one:  Click Here

 For more info:
Government Motors repayment fraud?
GM dumps long-time Chevy ad agency
Barack Obama and me



Comments

  • Steve Gold 4 years ago

    Lloyd,
    I really enjoy reading your articles. Thanks for sending me the alert to read them. I always take the time to read and enjoy your comments.
    Steve

  • RSBL 4 years ago

    "General Motors announced that it has repaid its loan to taxpayers with interest five years ahead of schedule, "

    Yea, with more bailout money, I will never buy from the corrupt fascist US government motors, may they burn in hell. The banks take our money...to loan it back to us at interest???? The US government is rogue and an illegal entity, they lost the priveledge of SERVING....they think they are rulers, they think they own us, they think they can do whjatever they want to us and we should just shut up...well, that isnt going to happen, it is coming to a head in this country, the illegitimate US governments days are numbered. Good riddance and good riddance to Israel too, because when the US traitors fail, Israhell will be cut off like they should be...traitors.

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