You just watched a video in which President Obama announces his plan for financial regulatory reform.According to President Obama, what are the reasons for the financial crisis?
The crisis resulted from excessive, poorly managed risk-taking by financial institutions, a lack of accountability and transparency, and failures by regulators and the financial system to keep pace with changing markets.
Which ideas did you include in your response? Check all that apply.
According to the president’s speech, what were some effects of the financial crisis? Check all that apply.
According to the video, how was the Banking Act of 1933 a reaction to the Great Depression?
The Banking Act of 1933 responded to losses caused by risky bank investments during the Great Depression. It created regulations and agencies to oversee financial institutions and protect consumers’ deposits.
Which ideas did you discuss in your response? Check all that apply.
According to the video, what are the purposes of the Dodd-Frank Act? Check all that apply.to protect banks from abusive financial practicesto improve accountability for banksto end bailoutsto protect consumers from abusive financial practicesto allow for greater banking profits
Why was the Food Safety Modernization Act passed? Check all that apply.Many citizens are in danger of contracting a food-borne illness.More people are living with chronic illnesses.Our food is no longer imported from foreign countries.Pathogens are becoming stronger and harder to defeat.Food-borne illnesses are not seen as a health threat.
According to the video, which food safety regulations have been created by the passage of the Food Safety Modernization Act? Check all that apply.
Which ideas did you include in your response? Check all that apply.
Think about the videos you have watched.Why is there a need for government regulation, and what limits need to be placed on these regulations?Give your answer in the form of a short paragraph.
Government regulations are needed to protect public safety and promote fairness and stability in markets. They should be based on a clear public need and be no more restrictive than necessary. Regulations must also respect citizens’ constitutional rights.
Did you find these answers helpful?