Dear Mr. Tan,
The President pushes for one of the pillars of his new economic foundation: reforming our financial system to look out for consumers, not just banks.
I admire how the American's strong showing in protecting consumers. Obama openly pointed how consumers, even CPA certified, got "cheated" by the financial institutions' pages and pages of fine prints, unfair rates hikes, unfair dealings, etc.
Obama said
- He do not want them to compete by figuring out how much they can fool ordinary Americans.
- The Financial Consumer Protection Agency is not for big banks, financial firms, but for hardworking Americans.
http://www.youtube.com/watch?
Kudos to the Obama Administration!
2 comments:
I encourage all my readers to watch this video of President Obama's speech.
The problem faced in America occurs in Singapore too, and to a larger degree.
I will be holding a survey to get the views of Singaporeans on the bad practices that are found in Singapore too.
Whitehouse blog
http://www.whitehouse.gov/blog/Weekly-Address-New-Momentum-for-Health-Reform/
hongjun
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