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Federal Government
Remarks By President Barack Obama In Weekly Address PDF Print E-mail
Federal Government
By Administrator   
Monday, 27 July 2015 05:26

RALEIGH, (SGRToday.com) - Following is the transcript of President Obama's most recent weekly address. Audio and video are available at whitehouse.gov.

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Hi, everybody.  It’s been seven years since the worst financial crisis in generations spread from Wall Street to Main Street – a crisis that cost millions of Americans their jobs, their homes, their life savings.  It was a crisis that cost all of us.  It was a reminder that we’re in this together – all of us.

That’s how we’ve battled back these past six and a half years – together.  We still have work to do, but together, we prevented a second Great Depression.  Our businesses have created nearly 13 million jobs over the past 64 months.  The housing market is healthier.  The stock market has more than doubled, restoring the retirement savings of millions.  Americans of all stripes buckled down, rolled up their sleeves, and worked to bring this country back.  And to protect your efforts, we had to do something more – we had to make sure this kind of crisis never happens again.

That’s why five years ago this week, we enacted the toughest Wall Street reform in history – new rules of the road to protect businesses, consumers, and our entire economy from the kind of irresponsibility that threatened all of us.  Five years later, here’s what that reform has done.

Wall Street Reform turned the page on the era of “too big to fail.”  Now, in America, we welcome the pursuit of profit.  But if your business fails, we shouldn’t have to bail you out.  And under the new rules, we won’t – the days of taxpayer-funded bailouts are over.

Wall Street Reform now allows us to crack down on some of the worst types of recklessness that brought our economy to its knees, from big banks making huge, risky bets using borrowed money, to paying executives in a way that rewarded irresponsible behavior.

Thanks to Wall Street Reform, there’s finally an independent Consumer Financial Protection Bureau with one mission: to protect American consumers.  Already, they’ve gone after predatory or unscrupulous mortgage brokers, student lenders, credit card companies, and they’ve won –putting nearly $11 billion back in the pockets of more than 26 million consumers who’ve been cheated.

So this law is working.  And we’re working to protect even more families.  Just this week, we announced that we’re cracking down on the worst practices of payday lenders on military bases, so that our troops and their families don’t wind up trapped in a vicious cycle of debt.  As long as I’m President, I’m going to keep doing whatever I can to protect consumers, and our entire economy from the kind of irresponsibility that led to the Great Recession in the first place.

None of this has been easy.  We’ve had to overcome fierce lobbying campaigns from the special interests and their allies in Congress.  In fact, they're still trying everything to attack everything this reform accomplishes—from hiding rollbacks of key protections in unrelated bills, to blocking the financial cops on the beat from doing their job.  And they continue to claim this Wall Street reform is somehow bad for business.  But that doesn’t explain 13 million new jobs and a stock market near record highs.  This law is only bad for business if your business model depends on recklessness that threatens our economy or irresponsibility that threatens working families.  We can’t put the security of families at risk by returning to the days when big banks or bad actors were allowed to write their own rules.  And if any bill comes to my desk that tries to unravel the new rules on Wall Street, I will veto it.  We’ve worked too hard to recover from one crisis only to risk another.

In America, we should reward drive, innovation, and fair play.  That’s what Wall Street reform does.  It makes sure everybody plays by the same set of rules.  And if we keep moving forward, not backward – if we keep building an economy that rewards responsibility instead of recklessness, then we won’t just keep coming back – we’ll come back stronger than ever.
 
 


     

 

 
Congressman David Price: Coal Ash Amendment Would Protect Vulnerable Populations PDF Print E-mail
Federal Government
By Administrator   
Thursday, 23 July 2015 05:47

RALEIGH, (SGRToday.com) - Congressman David Price, who represents the 4th District of North Carolina, issued the following statement this week.

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“Mr. Speaker, I rise in support of the Butterfield-Rush-Clarke-Price-Adams amendment.              

“The December 2014 coal ash rule was a reasonable compromise between the EPA and the energy industry, based on sound science and three decades of research into the significant human and environmental health consequences of ash spills. I will oppose the underlying legislation because, as my colleagues have noted, it would unjustifiably eliminate, undermine, or delay the well-thought out protections included in this compromise rule.

“Our amendment gets at another issue. There is a great risk that this legislation could be especially harmful to some of our nation’s most vulnerable populations -- and here I mean pregnant women, children, the elderly, low-income Americans -- because nearly 70% of coal ash ponds are located in communities where the majority earns an income that falls below the national average, and where communities of color are disproportionately represented.

“Our amendment is very simple – it would require the Administrator of the EPA to determine whether this legislation unfairly affects these vulnerable populations. If it does, its provisions would not go into effect.

“Misguided deregulation is one thing; outright discrimination is another. Let’s make sure that we’re not prioritizing the energy industry’s bottom line over the health and welfare of women, children, the elderly, and low-income Americans.

“I urge my colleagues to support the amendment, and I yield back.”

 
U.S. House Schedule For Wednesday, July 22, 2015 PDF Print E-mail
Federal Government
By Administrator   
Wednesday, 22 July 2015 05:54

RALEIGH, (SGRToday.com) - Following is the schedule for hearings in the U.S. House of Representatives for Wednesday, July 22, 2015.

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10:00 am     Hearing: Helping Revitalize American Communities Through the Brownfields Program


10:00 am     Hearing: Oversight of the U.S. Department of Agriculture

10:00 am     Markup: H.R. _ to ensure the equitable treatment of individuals affected by recent data breaches at the Office of Personnel Management to provide for the enhanced security of Federal information systems and for other purposes; H.R. 598 Walberg Taxpayers Right-to-Know Act;H.R. 2320 Mulvaney Federal Improper Payments Coordination Act of 2015;S. 136 Wyden Gold Star Fathers Act of 2015;H.R. 1613 Huizenga Federal Vehicle Repair Cost Savings Act of 2015; H.R. 3089 Walberg Grants

10:00 am     Hearing: “to Receive the Secretary’s Testimony regarding the Pending VA Health Care Budget Shortfall and System Shutdown”

10:00 am     Markup: H.R. ____ To modernize energy infrastructure build a 21st century energy and manufacturing workforce bolster Americas energy security and diplomacy promote energy efficiency and government accountability and for other purposes

10:00 am     Hearing: Hearing entitled “Examining Federal Reserve Reform Proposals”

10:00 am     Hearing: Oversight Hearing on "An Analysis of the Obama Administration’s Social Cost of Carbon"


10:45 am     Markup: H.R. 511, "Tribal Labor Sovereignty Act of 2015"

11:00 am     Hearing: How Tax Compliance Obligations Hinder Small Business Growth
Committee on Small Business: Full Committee
1:30 pm     Markup: Markup of H.R. 272, H.R. 359, H.R. 421, H.R. 423, H.R. 1356, H.R. 1862, H.R. 2464, H.R. 2915, H.R. 3016, and H.R. 3106

2:00 pm     Hearing: Legislative Hearing on H.R. 1880, H.R. 2388

4:15 pm     Hearing: Hearing entitled “The Iran Nuclear Deal and its Impact on Terrorism Financing”

4:30 pm     Hearing: H.R. 3009 - Enforce the Law for Sanctuary Cities Act
Committee on Rules: Full Committee

4:30 pm     Business Meeting: H.R. 3009Enforce the Law for Sanctuary Cities Act

 
Former CBO Researcher To Be Nominated For Seat On Board of Governors of the Federal Reserve System PDF Print E-mail
Federal Government
By Administrator   
Tuesday, 21 July 2015 05:44

RALEIGH, (SGRToday.com) - President Barack Obama has announced his intent to nominate Dr. Kathryn M. Dominguez to serve on the Board of Governors of the Federal Reserve System:

“Dr. Dominguez has the proven experience, judgment, and deep knowledge of the financial system, monetary policy, and international capital markets to serve at the Federal Reserve during this important time for our economy," the president said in a statement.

Her biography:


Dr. Kathryn M. Dominguez is a Professor of Public Policy and Economics in the Gerald R. Ford School of Public Policy and the Department of Economics at the University of Michigan, positions she has held since 2006.  Dr. Dominguez has held various academic positions at the University of Michigan since 1997.  

Since 2000, she has also served as a Research Associate of the National Bureau of Economic Research.  During this time, Dr. Dominguez also served as a Visiting Professor of Public Policy at the Goldman School of Public Policy at the University of California, Berkeley from 2008 to 2009 and as an Academic Visitor at The London School of Economics and Political Science from 2003 to 2004.  

From 1987 to 1997, Dr. Dominguez was on the faculty of the John F. Kennedy School of Government at Harvard University, and she served as a Visiting Assistant Professor in the Department of Economics at Princeton University from 1990 to 1991.  

Dr. Dominguez was a Dissertation Scholar in the International Finance Division for the Board of Governors of the Federal Reserve System from 1985 to 1986.  In 1984, she was a member of the research staff of the Congressional Budget Office’s Fiscal Analysis Division.  

Dr. Dominguez served on the Academic Advisory Panels for the Federal Reserve Bank of Chicago in 2013 and the Federal Reserve Bank of Cleveland in 2007, and was a Visiting Scholar at the Federal Reserve Board of Governors in December 2002.  She was a research consultant for the World Bank, the International Monetary Fund, and the Bank for International Settlements. 

Dr. Dominguez received an A.B. from Vassar College and a Ph.D. in Economics from Yale University.

 
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