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US President Barack Obama yesterday presented his plan for health reform that allows for 31 million more Americans take advantage of them with settings to increase bonuses and reduce costs.
The release of the plan on the website of the White House four days of «summit» before called for by Obama Members Democrats and Republicans in Congress to remove the thorny issue of the deadlock.
And the voice of the House and Senate at the end of the 2009 plan, but the approval stumbled after the loss of the vast democratic majority is described in the Senate that allows a minority of the Republic of obstructing the vote.
Obama had vowed in the absence of any support from Republicans who call for the resumption of negotiations from scratch, offering its own of the plan formula «closer between the bills, which offers them the House and Senate», according to the White House, they include «new measures to reduce the wasteful, fraud and exploitation ».
He said the White House that the plan would cost $ 950 billion spread over 10 years «composed entirely» amounts hoarded aims to «reduce the deficit a hundred billion dollars in the next decade».
Media White House official Dan announced that the plan «is the initial proposal» for the summit scheduled tomorrow, which was objected to by Republicans without that refuse to participate.
He said Senate Minority Leader John Boehner yesterday that Obama's plan for ending the «comprehensive control over the health sector from project impartial law» threatening «cancel purpose of the summit this week» that are «propaganda campaign television for Democrats.»
Newspaper «New York Times» and pointed out that Obama's initiative paves the way for «reconcile» complex allows adoption of the text after the vote by a simple majority of 51 votes.
30 million lack access to job opportunities
He revealed to that poll published «Gallup» Institute findings yesterday that about 20 percent of the US workforce lacked adequate employment in January (January) and have struggled to manage their needs with reduced resources and bleak prospects for employment.
In the results they paint a darker picture of the employment of an official US data as «Gallup» that 30 million Americans lack access to suitable employment means they do not have jobs, or they did not get only part-time work seems.
He pointed to the survey, citizens who do not work full-time spend on home purchases less than their neighbors full-time employees by 36 percent in January, while six out of 10 people who were not optimistic about their chances to find a suitable job in the coming months.
And explored «Gallup» view more than 20 thousand people in the period between the second and the atheist and the thirtieth of January. And bear results a margin of error of one percentage point. The poll, with rising voter anger over the stalled economic recovery in addition to dwindling Obama hopes to promote employment through government programs were thwarted by disagreements partisan in Congress.
The US unemployment rate fell to 9.7 percent in January but remains near its highest. And it exceeded the survey estimates in relation to the lack of appropriate official statistics estimate jobs.
According to the Ministry of Labour that 16.5 percent of American employees did not get jobs or got work part-time because of economic reasons in January, compared with estimates Institute «Gallup» amounting to 19.9 percent.
Raised a speech by US President Barack Obama late January (last January) about the US banking system, which was known as the «Volcker rule» relative to economist Paul Volcker, who served as presidential adviser for economic recovery, criticism in the corridors of Congress reform (House of Representatives) and the Council Senate banking sector in the United States, and skipped over to the other side of the Atlantic Vantkdh European bank officials.
According to a German deputy from the ruling party, close to the German Chancellor Angela Merkel, that «the US to adopt an identical copy of the proposal poses risks to German banks and depositors».
In this context, he asked for clarification «life» Lebanese economists a familiar American banking system, to see the prospects for the application of these proposals if turned into law and the extent to generalize.
Beirut - Lena Rahbani
Said Ziad Ferzli, Managing Director of the company «Sidaerwood Advisors» American (Cedarwood Advisors) financial and strategic advisor to companies and investors, institutions, governments and international organizations in economic development, there are two theories about the proposed laws in the United States, the first says that «Obama sells people talk» , to say to the American people who incur huge tax money to rescue US banks and real estate debt trouble: «what the team at least, no banks, subject to punishment», it is not physically punish him. And again it confirms that Paul Volcker (also a former president of the Federal Reserve, the US House) is serious about radical proposals on banks.
Pearson Profits He guessed that «the financial system continues to tentatively as it is now with minor modifications», especially that «Volcker is not part of the work of the administration of the team actually Minister of Treasury Secretary Timothy and the head of the Federal Reserve, Ben Bernanke».
Said Ferzli: «it was feasible to impose financial and banking reforms at the height of the crisis, that is, when the major banks in financial trouble the US government and begging for help», and went on: «I could at the time, subjecting banks to harsh conditions, but now they are able to return to achieve profits and paid most of the government loans, thanks to the funds obtained and used in speculation in the financial markets, rather than the provision of bank loans to companies and individuals ».
He predicted Ferzli that there is a significant role for lobbyists (lobbyists) in Congress and the Senate to amend the proposals, noting that the two chambers were Beshra work in the new financial law since June last year and, therefore, there are questions in the corridors of lawmakers for «meaningful timing of Obama's speech late in significant financial reform in January (last January) ».
Ferzli and alert you to the presence of «voids in the law exploited by banks for their own benefit», cites Similarly Englishman, «The devil is in the details».
On the proposal to prohibit banks from investing in hedge funds (hedge fund) or private investment funds (private equity), or owned, said Ferzli, said the administration will urge banks to its hedge fund selling, but «this does not mean that banks will stick easily». And he went on that proposal to strengthen bank capital and propose limiting amplifier borrowing on capital (leverage) Two decisions are important, and may organize a work of banks and they automatically have to abide by these conditions, to sell many of its hedge funds.
In the opinion of Ferzli, he said Obama did not address a very important issue in his speech, which is that «the interest rate basis for the dollar is still very low since the launch of downgrades after the end of the financial crisis in 2008, which encourages speculation in the various financial markets».
And on an item to prevent banks from trading in financial markets for its own account in order to profit (proprietary trading), allowing it only to trade for the benefit of its customers, said Pearson Profits that «the separation between the two activities is very difficult technically», pointing out that the major banks only exercise these activities, take it to limit types of speculation on the leaves of certain money the most effective, such as «subsidized housing loans contracts» (MBS) or decades «swaps pay off credit loans» (CDS), note that it was the main reason for the launch of the US housing loan crisis, pointing out that the banks are able always to find the financial means to speculate in the earliest form to «gambling» him to invest.
Law «Glass - Steagall»
He ruled out a return to the application of the law «Glass - Steagall» (1933 adopted for the reform of the banking system after the Great Depression and the prohibition of banking institutions from acquiring other banks and the separation between commercial banks and investment banks, and canceled work there in 1999), attributing it to «mainly because of the economic problems US current still great, especially the high unemployment rate, augmented by the sovereign debt problems of several European countries, and rumors about the possibility of starting a crisis in the Chinese real estate market ».
On Obama's proposal to provide grants worth a total of $ 33 billion to small and medium-sized companies (form 99 percent of the companies employing fewer than 500 workers each, at a rate of 10, most of them), in the form of a tax break worth five thousand dollars in exchange for each worker hired through the current year, Ferzli pointed out that the effect of the proposal would be «clear and effective» because it is based on a direct relationship between the government and companies, and passes through the banks.
Finally, trading knowledgeable in American affairs theory that the former US President George W. Bush was deposited his successor Obama «sickening legacy» and conveyed to him «fireball financial», added to the multiple internal challenges, it may be the main reason for the loss of parliamentary majority Democratic Party and the progress of the Republican Party in mid-term legislative elections due in November (November). Pearson Profits