The President and his administration have plans to change financial regulations including such plans as greater government regulation and even in some cases to take over financial companies who are in danger of collapsing and causing chaos throughout the entire system, such as the controversial AIG. President Obama continues to stress the importance of helping companies such as AIG in order to build the economy up and stop the bleeding. If Insurance coverage and lending cease it would destroy what is an already faltering economic system.
The nations greater needs take precedence over continuing the focus on the recent bonus scandals that have been encircling such companies. President Barack Obama has urged the Nation to turn their attention to the bigger picture rather than focus on executive bonuses. While he has demonstrated outrage over this himself, he sites continued micro-attention on it as a distraction from the crisis at hand.
Obama stated that his administration is working on all angles of this crisis as we have seen through recent task forces designed to stop just this sort of behavior. He reiterated one part of his economic plan saying that its a strategy to create jobs, to help responsible homeowners, and to restart lending. This will help grow our economy over a period of time.
The president remains optimistic despite the worst economic crisis we've faced in over 25 years, but reminds Americans with his usual directness that it will take a while. It will also take diligence and it will take an understanding that when we work together, when each of us looks beyond our own short term gains to the wider set of obligations we have to each other, thats when we will succeed.
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