Obama’s economic adviser calls for more reform and oversight of U.S. economy

August 25, 2008 by · 1 Comment
Filed under: Economic News 

We will see if this is just more noise or if we will see some positive change with the new administration. We need “real” currency reform in the United States if we want to keep our prosperity and position as a world reserve currency.

To do that we need to give our financial house in order, combat inflation and fix our flaws so we have fair trade. These things keep our American dream together and makes it so our middle class flourish.

Article:

An economic adviser to Democratic presidential candidate Barack Obama said on Monday that U.S. financial regulation needs modernizing, but hedged on how big a role to give the Federal Reserve.

Laura Tyson, former chair of the Council of Economic Advisers in the Clinton administration, said that in the Obama campaign’s view, “We need to look seriously at how to modernize our regulatory structure.”

She said in an interview with Thomson Reuters that she personally believes the Fed failed to crack down on subprime mortgage lending in recent years.

That needs to be taken into account when deciding whether to give the central bank a primary role in a revamped system, said Tyson, seen by some investment group strategists as a contender for Treasury secretary in an Obama administration.

“What we have learned from the past two years … is that the old form of regulation is broken,” Tyson said.

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One Response to “Obama’s economic adviser calls for more reform and oversight of U.S. economy”
  1. I finally decided to write a comment on your blog. I just wanted to say good job. I really enjoy reading your posts.

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