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Obama to Make A “Major Address on the Financial Crisis” On Monday

Obama to Make A "Major Address on the Financial Crisis" On Monday

Jesse's Cafe AmericainCourtesy of Jesse’s Café Américain

This news has appeared on the Agence France-Presse (hat tip Michel Proulx) and I have translated this into English for now.

One has to wonder if the great Speech Organizer will actually say anything that is worthy of the adjective, "major."

Someone has possibly told him that if he makes speeches often, it will reassure the people of his country, in the manner of Franklin Roosevelt’s "fireside chats" from the 1930′s.

This sort of remedy wears thin quickly if one has nothing of substance or new to say. Roosevelt had a great flair for oratory, but first and foremost he was a man of substance and of action, like him or not. He was an experienced governor, and knew how to lead by action and example, as well as by words.

It also appears that he wishes to ‘send a message’ to the G20 about their upcoming meeting at the end of September. He is setting the tone, as he most recently did before the Congress with regard to his health care reforms.

President Obama may seem to many to be a man only of words, of rhetoric, treading lightly on the status quo especially when dealing with the corporate funders of his political party, the banks and the health corporations. This is a great obstacle to his Presidency.

He has perhaps another six months to change this perception, or deliver his Party to a serious setback in the 2010 mid-term elections.

In the meanwhile, gold and silver appear to be an attractive hedge against incompetence.

Agence France-Presse
Discours "majeur" d’Obama sur la crise financière lundi
Publié le 10 septembre 2009 à 20h44

(translation into English)

U.S. President Barack Obama will deliver a speech on this coming Monday, described as "major" by the White House, on the financial crisis, one year after the collapse of Lehman Brothers and ten days before the G20 summit, his administration announced Thursday.

It will address the strong measures that his administration has taken to move the economy from the abyss, its commitment to reducing the role of government after their recent interventions in the financial sector, and the need for the United States and the international community to prevent the repetition of such a crisis…

The developed countries and major emerging economies are striving to overcome their differences and agree on measures to prevent a repetition of financial crises, and also to appease those who are outraged by the excesses of the financial sector.

The G20 leaders will be in Pittsburgh on 24-25 September. Mr. Obama intends to advance the proposal for new "rules of conduct" in finance.

With the prospect of the end of the recession, Mr. Obama will also put the fight against unemployment at the center of their discussions.
 

 


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