American Morning

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April 22nd, 2010
05:47 AM ET

LIVE Blog: Chat with us during the show

Editor's Note: Welcome to American Morning's LIVE Blog where you can discuss the "most news in the morning" with us each and every day. Join the live chat during the program by adding your comments below. It's your chance to share your thoughts on the day's headlines. Keep in mind, you have a better chance of having your comment get past our moderators if you follow our rules: 1) Keep it brief 2) No writing in ALL CAPS 3) Use your real name (first name only is fine) 4) No links 5) Watch your language (that includes $#&*).

[cnn-photo-caption image= caption="President Obama is expected to call on Wall Street to join him in his efforts to reform the financial sector in a visit to Manhattan on Thursday."]

Obama to push for tougher financial rules for Wall Street

(CNN) – President Obama is expected to call on Wall Street to join him in his efforts to reform the financial sector in a visit to Manhattan Thursday.

The address at Cooper Union For The Advancement Of Science & Art will take place just blocks from the heart of Wall Street.

Likely provisions of any reform legislation would include making banks and financial firms strengthen their capital cushions, as well as creating a new process for taking down giant failing companies and preventing future Wall Street bailouts.

Other topics for reform would include creating a new consumer financial protection regulator and keeping an eye on the kind of complex financial dealings that led to the crisis. Read more

Sound off: What do you think? Will Obama's new financial reform change anything?

Congressmen vs. SCOTUS on political contributions

Two lawmakers on Capitol Hill, a Democrat and a Republican, want to make sure you know when a company is giving cash to a political race. Sources say they're introducing a new bill today, but that could pit Congress against the Supreme Court.

Sound off: Should corporations be treated as people? We want to hear from you this morning. Add your comments to the LIVE blog below and we'll read some of them on the show.

Filed under: LIVE Blog • Top Stories
soundoff (52 Responses)
  1. Barry Bourquin

    "No terrorist in the world could have weakened America and capitalism more". Quote by Pat Choate, Ross Perot's 1996 Vice Presidential running mate and political economist (Saving Capitalism – Keeping America Strong, Vintage Books 2009.

    If you think Congress is going to fix the problem read Chapter One.

    April 28, 2010 at 8:16 am |
  2. Barbara R

    Time to take a look at who's running the show at these firms. Sure you have the stately Senior Execs, but it is the hot shot twenty and thirty somethings who are manipulating the market with their math and computer savvy.
    We have all failed. Parents, educators and society who did not provide moral grounding and allowed these "kids" to run wild with their "its all about me" attitude.
    Time to take our economy back morally and ethically. Get the amoral children out to the nation's piggy bank!

    April 26, 2010 at 7:56 am |
  3. Abdellah

    Good morning,
    i just want to comment on the cartoons..i believe in the principles of this country and in his freedom of speech, i m muslim and open to any constructive conversation, i m not terrorist i dont want to be labeled as that. but i want you to understand and look to the side of the river with different perspective as alot of people and media do, as i said i m open to any discussion about my religion or any other religion, i respect all the prophets starting from Adam to Moses, Jesus and Mohammad ; and the most important we believe in them all and their message, therefor we care for them all at the same level and what said about them. but what you need to understand is that those prophets are so valuable as part of our believe that its not appropriate to see them in different aspect or figure that makes them saying or acting in different way than what they came to this world to deliver as message,... again i m not terrorist or extremist or close mind, if you dont believe in those prophets thats your right but dont step on the others rights and offend them in their believes and not giving them the right to defend themselves in passive way as i m doing with this comment... i dont believe in war or killing thats not the character of a real Muslim...thank you for the opportunity ....have a nice day....

    April 23, 2010 at 7:34 am |
  4. Gail

    Having worked in Wall Street, I saw a lot of things that would not be acceptable to the public, had they known. I witnessed things like insider trading, embezzlement and the public taking losing trades, while traders put winning ones in their own accounts. None of this was reported to the SEC. The firms did not want investigations, and these people remain free, having never been prosecuted for their crimes. At the most, they were blacklisted for a year or two.

    At one point, I asked why there were so many felons working in the industry and was told "If you can steal from your grandmother, you can steal from anyone." Even today, the Feds really don't want the names of the people involved.

    April 23, 2010 at 7:20 am |
  5. Joshua Wertheim

    Regarding censoring South Park, and the comments that the media shouldn't be cowed to the threats of violence, why didn't the commentator call the threatmongers "Moslem extremists" instead of "Religious Extremists"? That in itself seems like a pandering to these extremists, not calling them what they are.

    April 23, 2010 at 6:46 am |
  6. Jason Mallek

    'South Park vs. Free Speech'...are you serious. It should be 'Religion vs. Free Speech'. South Park if anyting is not against free speech.

    April 23, 2010 at 6:45 am |
  7. Dennis Berman

    Good for Obama and good for America. He is demonstrating strength and leadership through these difficult economic times.

    April 22, 2010 at 11:18 am |
  8. Laurie

    I was so glad Kieren mentioned chiropractic for migraines. I work for two exceptional chiropractors and they do wonders for not only migraines, but many other medical problems. They are very cost effective and in almost all cases, can help the paitent avoid a very expensive surgery. so if you want to talk about lowereing health care costs while maintaining excellent, quality care. Take a look at us, we do wonders for people, many who come have exhausted all other treatments at $10,000's of dollars. We treat them, make them feel better, they should have come here first!! I would have saved a lot of pain and suffering and money.
    As for the shortage of doctors in the future, we are primary care physicians and can be utilized as such. We are very capable of taking care of many issues, and the ones we cant, we can refer on. Just like your family physicians.
    I really wish people would take a good look at chiropractic care, it is a very successful way to treat people for a number of situations, we are cost effective and we have several 'families' who use us as their primary care physician with personalized care, and trust us completely.
    Thank you

    April 22, 2010 at 10:27 am |
  9. john doe

    If you look closer, I'm sure we can get thru this!!! USA is the way!!!

    April 22, 2010 at 10:18 am |
  10. john doe

    OK, where these people on company time when the these people made these bad transactions??? A theif will lye to steal!!! See where this going right??? Now if the pres can't figure this out, maybe( WE THE PEOPLE) need to stand closer together!!! USA is the way!!!

    April 22, 2010 at 9:55 am |
  11. Melon

    Obama's health care "reform" bill didn't do anything for HEALTH CARE ... only health care INSURANCE. Not the same thing.

    As Gone Wrong Bush lined his pockets from the Iraq "war" Obama will line his pockets from the insurance companies.

    April 22, 2010 at 9:24 am |
  12. Tim

    I would really like to know want the actual format of a derivative is. You and the rest of the media have been throwing this word around for weeks. What it look like if I held a print out in my hand would it be a note, insurance policy, bond, certificate?

    April 22, 2010 at 9:18 am |
  13. Frank

    I think as American we should listen to what we ask our Government to do. We sound insane I want health care, not that health care, cheap health care and I want a tax cut. So if you have an insane congressperson their listening. lol

    April 22, 2010 at 9:09 am |
  14. Melon

    People that follow the party line – any party line – shouldn't be considered Americans.

    April 22, 2010 at 9:07 am |
  15. Pauly

    If you had health insurance before the passage of HCR, the mandate won't affect you!!! The bill will protect you if your insurance co wants to cancel your policy if you get sick. HCR will allow you to keep your coverage if you lose your job. It allows you to join a pool & purchase other insurance if you become dissatisfied w/ your insurance co.

    Armageddon didn't happen w/ the passage of HCR. Limbaugh didn't move to Costa Rica. There aren't, and never were any "death panels." No one is going to pull the plug on grandma. Stop the lies & fear/smear tactics!!!

    April 22, 2010 at 8:59 am |
  16. gloria lewis

    The president is making the right choices and putting the right laws in place .Nothing of this will save the economy and jobs right now ,yes in long term but joob loss the deficit ,unemploymeb
    nt benefits all of this will not change it will get worst .This will all get worst i said it in 2004 and i will continuie .Please tell Mrs jarett i am still waiting on a response from her david alexrod and the president .I wrote them all letters with the real problem and solution .Unless we get new ideas to help get people out of poverty .This nations deficit gets higher by year end with more job losses .I CAN BELIEVE NO ONE GETS IT

    April 22, 2010 at 8:41 am |
  17. John Carden

    ddin,t the end of times call for a one World currntcy, Is the what the new 100 dollar bill is headed for, if it resembles a euro

    April 22, 2010 at 8:34 am |
  18. Pauly

    It's sad that some can offer nothing more than talking points on thios forum. The health care mandate was a GOP idea. First proposed by Sen Bob Dole, then adopted by Gov Romney & introduced into the HCR bill by Sen Grassley, who wanted even tougher fines for not getting health insurance.

    Though I'm not a proponent of a mandate, it's necessary to protect taxpayers. Taxpayers are on the hook when people gamble they won't get sick or injured then show up in emergency rooms.

    It's ironic that during the HCR debate, conservatives were complaining that their health insurance would suffer. Now they are complaining that they have to buy health insurance.

    April 22, 2010 at 8:28 am |
  19. John Carden

    The clip about our Ocean really got to me. It actually it kinda bothers me. If we keep going the way we are currently heading, then we will kill all shell life which in turn starts a whole chain of events, Sigourney mentioned our planykton, which in all will start a hugh feeding problem because its the main staple diet of a whole lot of our ocean life, once we lose them, then as we know of the food chain, it all rolls down from there, from losing one spieces we will eventually lose the food for another and it continues from there on.
    We need to do alot more then we are currently doing now to enact and PASS the desperately needed bills to stop the emissions were currently dumping into the air.
    Please help America, we need to set a better example for the World. Are we not suppose to be a LEADER of Nations?
    We can not lose our Ocean's life

    April 22, 2010 at 8:28 am |
  20. Paul

    Just saw your segment with Sigourny Weaver. I am engineer/scientist. I spent 9.5 years in Undergraduate and Graduate School. Why do you have a "celebrity" discussing acidity levels in the oceans. What training does she have? Same question for Congress. Is it any wonder the US is falling behind technologically as compared to other nations like India and China when we get our "science" from celebrities. I postulate she does not even know how to evaluate data collection and analyses to ensure that no bias has been introduced. Please next time put on a credible subject matter expert.

    April 22, 2010 at 8:17 am |
  21. Pejibaye

    We howled with laughter after your reporter warned travelers to "look for packages that seem displaced" in India. In India?! Has she left her hotel? We spent 9 weeks there last year and loved it, but the whole idea of identifying one displaced package in the chaos that is India is crazed.

    April 22, 2010 at 8:15 am |
  22. Melon

    Pauly.. you spewing the typical party just makes you appear not so bright.

    Your attempt to slam on the GOP about the insurance companies only proves it. You think with Obama's health care "reform" bill that forces all Americans to buy insurance from those very same insurance companies is any better? You seriously need a reality check. How much of a kickback is Obama and his gang of cronies stand to get from the insurance companies?

    The cause of the collapse of the economy was the bill that Clinton signed into law.

    Please try to have an original thought. Thank You.

    April 22, 2010 at 8:14 am |
  23. Pauly

    The GOP should get their priorities straight. First, they supported insurance co's that were canceling/denying coverage to Americans. Now they are supporting financials who caused the economy to collapse. They are in DC to represent the people not corporate America. Of course, money talks & these two industries have spent hundreds of millions to fight reform.

    April 22, 2010 at 8:05 am |
  24. Melon

    Any new bill will be like the health care "reform" bill.... loaded down with new taxes on everything and full of pork for those that vote for it.

    April 22, 2010 at 7:56 am |
  25. Linda

    Thanks for sharing Kenneth Chancey's story. He's a very inspirational person and hopefully he will have the opportunity to achieve his dream. We heard that he was not accepted to Harvard but can you share where he will be attending his freshman year?

    April 22, 2010 at 7:47 am |
  26. kent

    Obama's financial reform is as phony as a 3 dollar bill. He is the one who appointed geithner, and re-appointed bernanke. Watch what he does not what he says. If they pass a bill it will full of loopholes and it will not eliminate too big to fail, or the 600 trillion dollar derivatives market. Today just like every other day bernanke and the fed will loan out billions of taxpayer dollars to banks and wall street firms at 0% interest. After the banks and wall street get the taxpayer money they in turn loan it back to the taxpayers at 20-30% interest for credit cards or they bet the money in the derivatives casino. There will be no major changes unless they break up the large banks and the fed under bernanke stops feeding 0% interest money to the wall street gamblers. This of course wil not happen.

    April 22, 2010 at 7:39 am |
  27. Melon

    That's an interesting question... is the case against Goldman-Sachs politically motivated?

    April 22, 2010 at 7:34 am |
  28. Mark

    The political pressures on the SEC is going to come when Obama and all the other politicians who have received millions in contributions. The idea that the SEC is trying to score political points by going after Goldman is the weakest excuse Goldman could come up with and it's sad that all the news groups give it so much attention.

    April 22, 2010 at 7:32 am |
  29. Melon

    Pauly. here's a strange concept for you – try taking your own advise.

    April 22, 2010 at 7:24 am |
  30. Pauly

    Hey conservatives, you have to stand for something or you'll fall for anything!!! Just saying no doesn't solve any of this country's problems. Using fear & smear tactics & telling blantant lies to get support for your obstruction isn't healthy for Americans. It's time to honestly put this country ffirst!!!

    April 22, 2010 at 7:17 am |
  31. Joseph

    for campaign reform, I think the disclosure issue will not yield the fruit they are looking for. What is stopping larger companies to funnel the money through smaller entities to go to campaigns. I would put a cap on how much a company can contribute and eliminate the tax deduction for the contributions so there is no incentive other than supporting candidate. Additionally, I would count all subsidiaries of any company that has 10% ownership in as one entity for donations. And to add another wrinkle, if an officer of one company is also an officer of another, both companies would count as one.

    Of course our elected officials will never agree as it will deplete the coffers.

    April 22, 2010 at 7:13 am |
  32. Jack

    The guest this morining talking about class sizes just put a horiable taste in my mouth. I am a teacher of 4 years. I have never been in a class of 15 kids. I have taught at 4 different schools of various sizes. Education is a priority that is not being addressed in my eyes in comparison to other things in the news. I'm on my way to work and can't understand where that guest got her information. My day has a cloud of disbelief today because of her comments. WOW !!!!

    April 22, 2010 at 7:11 am |
  33. Melon

    It's sad to still see silly people using the tactic of blaming one party in a sad attempt to make "their" party appear better.

    If Obama does for financial "reform" what he did for health care "reform" the country will be in serious trouble.

    April 22, 2010 at 7:05 am |
  34. Sue

    The people of Illinois are stretched thin. I live in Chicago and at 10.25% we have the HIGHEST sales tax in the United States. In addition to standard income, and property taxes. We have "special taxes" applied by many of the cities. In Chicago, special "tax" for electric, for having cable, for buying or selling a property, etc. My brother just moved to Conn. and he can not believe how much cheaper it is there.

    If the state needs more money then maybe its time to take a look at all the fraud that goes on in this state. Frankly the teachers are way overcompensated in the Illinois public schools. The guest speaker forgot to mention their tenure rules, pensions, benefits and additional education all on the state's dime. Where are the results for all this expense? The private school teachers make far less and produce better results – its time to cut the fat in the public sector just like the private has had to do.

    April 22, 2010 at 7:04 am |
  35. Pauly

    If the President was against financial reform or proposing more protections for Wall St, contributions from Goldman should warrant scrutiny. However, he is NOT allowing those contributions to steer him away from financial reform.

    On the other hand, the GOP assured financials that they would block the bill or water it down for more political contributions. Only after the President & Dem leaders exposed this did the GOP drop the fear & smear campaign against financial reform. In less than a week, the GOP has done a 360. They thought they could do w/ financial reform what they almost did w. health care reform.

    Their strategy blew up in their faces & they are now trying to save face. They are attempting now to take credit for a bill that 41 one of them signed a letter against. Hypocrites & liars. It's a shame how they have acted since the election. Since the '08 elections, they have had one goal, regain seats in Congress. Country first sounds nice but they have been putting their thirst for power ahead of this country & the American people.

    April 22, 2010 at 6:52 am |
  36. Karen

    @ Paul I think the reason people look toward countries like Canada because no one is turned away. Working as a RN I have taken care of patients from there, and because our heathcare costs are out of control, it was less expensive to have a private jet come down and bring them back. Also everyone has healthcare coverage. I hear people say they are against socialized medicine – well what is Medicare. The government already requires car insurance,'mortgage companies require homeowners,etc

    April 22, 2010 at 6:50 am |
  37. Sierra

    Everyone should be making education a TOP priority in this country! Education should NOT have less funding than wars – but sadly in this country – it does!
    Defense, and Security spending in the USA is 20% of the Federal Budget (according to the Congressional Budget office)

    Education, on the other hand, ONLY spend 3% of the Federal Budget on Education. That is just pathetic!
    And to hear people saying they want to further cut education spending is just a disgrace!

    Older people in the USA, including, seniors, and adults in the 40's, and 50's , should be the most interested, and supportive of making sure that the USA has a properly educated, and productive younger population, especially if seniors, and older Americans still want to have programs like Medicare, and social security in the future – because someone is going to need to need to pay for these programs, and that will require that the younger population in this country is equiped with a good education, so they are contributing to the USA economy, and paying the taxes that are going to be needed to fund programs that benefit the older population in the USA – namely Medicare and Social Security.

    If we truly care about children in this country – Education should be funded properly. An educated population benefits us all, Both NOW, and in the future.

    April 22, 2010 at 6:49 am |
  38. Sierra

    Everyone should be making education a TOP priority in this country! Education should NOT have less funding than wars – but sadly in this country – it does!
    Defense, and Security spending in the USA is 20% of the Federal Budget (according to the Congressional Budget office)

    Education, on the other hand, ONLY spend 3% of the Federal Budget on Education. That is just pathetic!
    And to hear people saying they want to further cut education spenidng is just a disgrace!

    Older people in the USA, including, seniors, and adults in the 40's, and 50's , should be the most interested, and supportive of making sure that the USA has a properly educated, and productive younger population, especially if seniors, and older Americans still want to have programs like Medicare, and social security in the future – because someone is going to need to need to pay for these programs, and that will require that the younger population in this country is equiped with a good education, so they are contributing to the USA economy, and paying the taxes that are going to be needed to fund programs that benefit the older population in the USA – namely Medicare and Social Security.

    lation in this country, every thing in our country will suffer.

    April 22, 2010 at 6:44 am |
  39. Jacquie

    Thank you, John! Thank you for arguing with today's guest about class sizes in America, the lack of tax increases to benefit education, and our inability to compete internationally! As a teacher who's job has been in jeopardy each year over the past three years, it's so difficult to listen to others say a tax increase is not necessary. Work conditions for teachers continue to decline each year and have been declining for many years. The response you get from those above you is always something along the lines of "I know you'll still do a good job because you care about the kids." I can honestly tell you that when my morale is low, I am not at my best, and although I have only been teaching for 4 years, I'm already planning how I can continue my personal education to pursue a different career path down the road.

    April 22, 2010 at 6:42 am |
  40. Terry Man

    Just some comments regarding the story regarding the tax increase rally in Springfield, Illinois. Illinois may be a state with a relatively low state income tax, currently at 3%. However in Chicago, where I have lived all my life, the sales tax is 10.25% and my property taxes are very high.
    I am an instructor at a local college and my salary is under $40K per year. I noticed that the teacher interviewed was from Niles, Illinois. I do not know what his salary is but I can tell you that there are suburban school districts where high school teacher salaries are in the $100K range. You might want to send an investigative reporter to look at those districts.

    April 22, 2010 at 6:39 am |
  41. Melon

    What Washington should reform first is Washington it's self. Washington is the cause of most of the problems that affect the country now. Politician's greediness is running amok in Washington.

    April 22, 2010 at 6:39 am |
  42. Jim Kimbrell

    Too big to fail ? What happened to the Sherman Anti-trust Act ?

    April 22, 2010 at 6:35 am |
  43. Muslim

    The fundamentals of the Economy are not explained nor comprehended.
    The People at CNN must give Ron Paul free reign to explain the whole matter on the network. Invite him to speak when you have the most viewers.
    Also, invite the leaders of the End the Federal Reserve movement.

    April 22, 2010 at 6:35 am |
  44. Karen

    I can tell you the teacher's pay is so low in the south that I know of a couple that have to work a second job. So how can teacher's give homework like they used to when they don't have time to grade their assignments.

    April 22, 2010 at 6:32 am |
  45. Muslim

    There is an easy way around disclosure of who is paying for political ads.
    Companies and Banks can easily set up institutions or contribute to institutions who have a socio-political ideology that they like, then those institutions donate to candidates. What shall be disclosed is the name of the institution, not where the institution is obtaining funding.

    April 22, 2010 at 6:19 am |
  46. Melon

    Obama wants to "preach" to Wall St but Goldman -Sachs was one of his biggest contributors during the campaign. Maybe Credit Card Joe could do to Wall St. what he did for credit card

    April 22, 2010 at 6:19 am |
  47. Jim Thompson

    Great show – you two are the best together. I'm up at 3:00/AM each morning just to catch your show – a little early here in California.

    Having worked on Wall Street some years ago, the showdown between our President and Wall Street will be show-lived. Wall Street controls the Worlds financial strength and trying to 'cap' that strength will work against the President.

    Perhaps he should fully understand how the system works before trying to take it on.....

    Keep up the great show .... top people

    Jim Thompson

    April 22, 2010 at 6:16 am |
  48. Muslim

    They like to talk alot in Washington, especially the Obama Administration. He came into office as the "sherif" who was going to change the way things get done. Lo! and behold those who financed the campaign to the Presidency of Obama were AIG, Goldman Sachs etc...
    Who will be empowered to oversee and monitor the goings on in Wall Street? The Federal Reserve? If you put the Federal Reserve in charge of monitoring the goings on in Wall Street, it is the same as giving authority of the hen house to the fox.
    If authority shall go to the SEC, who works for the SEC? Former bankers. This is what is called infiltration of Government by private sector workers who work for the benefit of the private sector.

    April 22, 2010 at 6:10 am |
  49. Melon

    strangle* sorry .. fast fingers.

    April 22, 2010 at 6:09 am |
  50. Melon

    Good Morning John and Kiran!

    There should be some kind of reform and regulation but so much as to stangle or hamper Wall St.

    The Government should bail out the education system of the US. That is more important than any other aspect of America.

    April 22, 2010 at 6:08 am |
  51. Raymond

    During the time when I was campaigning for Obama, a white neighbor told me he would never vote for “a black man for president”. Apparently, a small, but vocal minority feel the same way. If not, why is 8 states considering a law which will say that Obama must show his birth certificate before he can get on the ballot in their states. What a waste of taxpayer money.

    April 22, 2010 at 6:04 am |
  52. paul

    reviewing headlines this morning: the president talks up value added tax, the new $100 bill looks like the euro, socialized healthcare....

    Whats the love affair with europe?

    April 22, 2010 at 5:54 am |