The Web Tycoon’s blog

Barack Obama defensed the necessity of reform the financial system to protect consumers and regulate the behavior in Wall Street.

Obama suggested in the yearly meeting on Washington of the enterprise council, to support the law project discussed in the congress about the financial reform.

“The measures we proposed are no way intended to hurt companies”. Assured Barack obama.

“As we learned so painfully last years, the Government has the obligation to establish rules of common sense in the markets”, aggregated.

Otherwise, “some can find more attractive try to take profit of the system than compete and innovate in honest way inside it”.

(more…)

The president of the Federal Reserve(Fed),Ben Bernanke,pointed last Tuesday that from a technical point of view, the recession in USA is ”provably over”.However, has also pointed that the US recovery will be ”relatively slow in the beginning and unemployment will only decrease gradually”.

”I’ve seen some agreement in the forecasts of recovery from the community of analysts.But the general opinion of the most of us is that the economic growth in 2010 will be moderate”.added.

Bernanke also asked to put ”urgent” actions to overlook the ‘’structural” weaknesses is holding nowadays the financial system.

”We must urgently approach the structural weaknesses of the financial system, particularly in the regulatory frame, to ensure we do not suffer again the enormous costs of the lasts years
The president Obama has also the same opinion about the necessity of ”urgent” measures in the financial system to prevent a new crisis of the current to happen.”

(more…)