Friday, 22 July 2011

U-Report: President Obama Signs Wall Street Reform Bill Into Law

President Obama
Reported By: David Plouffe( Senior Advisor to President  Obama)

 One year ago, after a tough battle with the special interests in Washington, President Obama signed Wall Street Reform into law.

That law does three important things. First, it brings to an end taxpayer funded bailouts, so taxpayers will never again be left paying the bill if a big bank fails. Second, it stops the reckless risk-taking by Wall Street that put consumers in jeopardy and led to the economic crisis. And third, this law puts in place the strongest consumer protections in history.

And to make sure you can count on those consumer protections, we put a first-ever consumer watchdog in charge. It’s a new bureau – a new cop on the beat – with just one job: looking out for families in the financial system.

The President faced a lot of opposition when we fought for this bill. An army of lobbyists and lawyers were looking to preserve the status quo, and one year later, they’re still at it. The special interests are trying to water down what we passed, and spending tens of millions of dollars to get their way. And they’ve got friends in high places.

But President Obama has made it clear: he’s not going to let them win. He’ll veto any effort to weaken or repeal Wall Street Reform. He’s not going to let them take us backward.

We can’t afford to go back to the days when consumers were ripped off by misleading fees and deceptive lending and our economy was vulnerable to greed and recklessness -- not when we know that millions of middle class families are still hurting because of the damage that was done.

So we have a lot of work to do to rebuild this economy. We’ve got to rein in the deficit to put our economy on stronger footing and ensure that seniors and middle-class families aren’t bearing the entire burden when millionaires and billionaires, oil companies, hedge fund managers and corporate jet owners are let off the hook.

We’ve got to keep money in your pockets by preventing payroll taxes from going up for working people. We’ve got to continue to make smart investments in clean energy, innovation and technology to create the good paying jobs of the future.
But we’ve also got to keep up the fight to solve the problems that led us into this economic mess in the first place.

It comes down to this. You shouldn’t need to have lobbyists on the payroll to have your voice heard in Washington. And in your financial dealings, you deserve a basic measure of protection against abuse. You should have the freedom to buy a home or open a credit card or take out a student loan with confidence that you’re getting a fair deal.

That’s what these consumer protections will do. That’s why Wall Street Reform matters.

U-Report: Imo State House Of Assembly Passes Motion On Recovery Of Looted Government Properties

Uwajimogu: Imo State House Of Assembly Speaker
Reported By Citizen Ikenna Samuelson Iwuoha
The Imo State House of Assembly on Tuesday the 19th July 2011 passed a motion urging Imo people to assist the task force for the recovery of government looted properties with relevant information for the
realization of the objectives which is to recover all the looted properties. The House also commended Governor Rochas Okorocha for setting up the Task Force.

Moving the motion earlier, the Chief Sponsor of the motion, Hon. Chief Celestine Ngaobiwu  representing Obowo State Constituency lamented that it was almost becoming a culture for out gone political appointees or office holders to loot government properties.

This unscrupulous and obnoxious behavior Hon. Ngaobiwu said forces government to continue to replace such properties. Hon. Chief Sam-Daddy Anyanwu representing Ikeduru State constituency opposed the motion by arguing that it should have come in form of “motion on adjournment” adding that it should be withdrawn by the chief Sponsor and other Co-Sponsors.

The member representing Oru-East State Constituency, Barr. Greg Okemili joined force with Hon. Sam-Daddy Anyanwu’s contribution by arguing that the action taken by Gov.  Okorocha was expected of him. When the Rt. Hon. Speaker of Imo House of Assembly put the motion to vote, it sailed through with majority support.Also, a motion on emergency supplementary budget for the funding of policy initiative of the RESCUE MISSION of the government suffered defeat as it was not seconded. The motion sponsored by the member representing Obowo State constituency, Hon. Chief Celestine Ngaobiwu was discarded when no member including nine other co-Sponsors could not second the motion.
Furthermore, the Chairman of the Adhoc Committee investigating income and expenditure of the 20 Local Government Areas in the State, Hon. Dr. Victor Mere (representing Owerri Municipal Constituency) submitted the committee’s interim report to the House. Also the chairman of Adhoc committee investigating Imo State Independent Electoral Commission (ISIEC) Hon. Chief Ugonna Ozuruigbo representing Nwangele State constituency submitted the committee report to the House.
The Speaker Rt. Hon. Benjamin Uwajumogu adjourned discussion on the two reports by the committee till July 26th 2011 when the Assembly would resume its plenary session.