While I was toasting up with a long lost cousin in Bed-Stuy, U.S. President Barack Obama gave his 2012 State of the Union address. Thankfully, Shannon tweeted the whole event and a bit of the Republican rebuttal. Ha! I did catch a bit of the political party and found it particularly interesting when the President said that he’s doing away with confusing legalese for home loans and other big purchases for Americans, as well as erecting a section within the Justice Department to take Wall Street to task for their financial mismanagement that led to the 2009 crash.
“This new unit will hold accountable those who broke the law, speed assistance to homeowners, and help turn the page on an era of recklessness that hurt so many Americans,” said Obama.
Two thoughts: Eric Holder will be even more unpopular; Is making loan legalese … legal and good for the consumer even possible? I certainly hope so on the latter and will think of Holder as Matt Damon in The Departed, but with good intentions.
Still, if you’re like me and missed the SOTU because you were out drinking and you’re wondering exactly what Obama said last night amidst the 20+ or so standing ovations, watch the video below.
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