Obama defends financial oerhaul:WashPost,6/18/09

Page A1:

Million of Americans who have worked hard and behaved responsibly have seen their life dreams eroded by the irresponsibility of others and the failure of their government to provide adequate oversight."

Page A14: The Consumer Finance Protection Agency is built on the ideas of Elizabeth Warren, the Harvard Law Professor who leads the panel overseeing TARP.

Consumer groups have long sought increased enforcement of consumer protection laws. They have been invigorated in recent months by the carnage of the financial crisis and by clear signs that they have the president's ear. But they still face the formidable opposition of trade groups such as the American Bankers Association. That remains to be seen.

EXPRESS paper on page 3: "Obama blamed the financial crisis on a culture of irresponsibility that he said had taken root from Wall Street to Washington to Main Street, and he said regulations crafted to deal with the Depression of the 1930s had been overwhelmed by the speed, scope and sophistication of a 21st centuiry global economy.: Photo of Treasury Secretary Timothy Geithner,President Obama and FED Chairman Ben Bernanke at the White House on Wesdnesday.

Page A4: Improving public health can reduce Medicare spending on particular problems. However,helping folks live longer and healthier lives can increase the burden they put on the federal government, partly because they will spend more time collecting Medicare and Social Security benefits, the Congressional Budget Office reported.

If we live to be centenarians,we would be rendering disservice to US government. However,we have been paying tax during our working decades. That is the fair return as the rebates.

Page A8:THREE CUPS OF TEA: Three books that have changed the way people think about chaning the world. Drinking tea is a good habit and to change the taste of coffee for good health.

Three #1 New York Times bestsellers for the whole family. "One only hoppes U.S. policy makers read this books." -The Philadelphia Inquirer.

Francis Shieh a.k.a. Xie Shihao, an octogenarian tea drinker to share such useful info to readers of Sino-American economics. Tea for two would be an idea and an ideal companionship.

Thursday,June 18, 2009 at 11.46 a.m. at Andrews AF Base Library blogging online to render public service for humankind.

Thanks for your time in reading my blogs with appreciation. Have a great day,everyday.