Just for King..

WASHINGTON - The financial system has stabilized but needs new regulations to curtail behavior and practices that led to the meltdown that brought Wall Street to the brink of collapse, President Barack Obama said Wednesday night in a prime-time press conference at the White House.

The president specifically mentioned regulatory changes that would require shareholders to have nonbinding votes on executive compensation packages. He said the government could impose new fees on institutions that engage in what he called "far-out transactions."

The president was speaking in a prime-time news conference. He conceded that the $700 billion rescue program for the financial sector has been unpopular, but he said it was responsible for pulling the system back from the edge of failure.

Obama: Banking system needs new regulation - White House- msnbc.com
And the excoriation:

More foot dragging and a renewed call for "non-binding" shareholder votes which are a complete waste of time as we have repeatedly witnessed recently. Most people don't blame Obama or the crisis but they certainly blame him for his failure to take serious action on the most critical issue of the day. His continuing "business as usual" approach with a few minor tweaks is good news for the status quo on Wall Street but bad news for anyone with a retirement plan or who has to work for a living. Americans are generous people who grudgingly went along with the rescue plan to prevent an even greater recession but there has been so little in return.

Americans have watched their 401Ks crumble and Wall Street go right back to huge bonuses and yet Obama continues to be meek. Sure, they have at least stabilized or possibly have made a couple of bucks back but nobody has come close to regaining the losses. Anyone who believes American voters won't react poorly to this failed response are kidding themselves. The GOP may be guilty of creating this (along with Clinton's team - now known as Obama's team) but they are going to eat the Democrats for lunch on the economy if it doesn't turn quickly.

AMERICAblog News| A great nation deserves the truth
am I still complaining? Or is this legitimate?