Pray For Our Leaders

When President Obama was on Wall Street, New York, doing a masterly speech about the need for regulations in the money market. Obama made important comments in the way business was done on Wall Street to the consternation of some of key stakeholders. In fact, many have come out strongly opposed to the proposal of government regulation in the economic sector.

But I think what Obama said it was very important if we are to avoid what happened after the collapse of Lehman Brothers in September last year. While the rules can not stop a recession happen again, I think it will reduce risk factors.

Some of the things highlighted in the President s speech ™ €, wages are paid abnormal executives and at the same time enjoy the tax cuts. In addition, high-risk investments by companies and bank loans with rates too little interest that can not be self-sufficient economy have exposed negatively.

The President also spoke of how companies and enterprises have entered lending large amounts of money without the asset base sound to act as security therefore, the exposure of investors € ™ money unfairly. These are the reasons why the economy is in a condition so severe, with high public spending in the fight against terrorism in Iraq and Afghanistan.

Government measures should include reducing executives of the checks, while at the same time, equal taxation. This will show justice and at the same time allow all bare the burden of taxes equally.

The banks and large corporations should be forced to embrace change and the = "_blank"> target good practice management and thus avoid high-risk loans, loans and investment. This will help stabilize the economy and most importantly we have to pass a credit-based economy to an economy based on savings (cash is king, no credit). I think President Obama is right in this.