What a combination! Isn´t it?
Yesterday, at the Ronald Reagan Center before 400 leaders from public and private arena Obama said again that the cornerstone of the financial reform is based on consumers’ protection.
As you know, we like understanding Consumers Law as the Law field for the protections of PERSONS ( there families, there society...) before the wild forces of markets, whatever market, of course, and even principally the financial market.
Financial wildness has damaged economy, according to Obama´s speech yesterday. In Spain´s case, it has damaged economy and nature: the beauty of our coasts has been directly impacted by the voracious appetite of Wall Streeters. Ask Greenpeace and their reports on Spanish Coasts!
It seems that among the invited to yesterday´s Obama event at Reagan Center in DC were two citizens who have been damaged by the excesses of Banks who were remarked by the White House and the beneficiaries of the reform.
In Spain once Banks start to honour their liabilities attached to Law 57/68, both when existing and when non existing Bank Guarantees, a new, person oriented status after the crazy, ultra-benefits style of off plan businesses of the boom years will flourish finally.
Law 57/68 entrusted the balance of these off plan risks to Banks. Now, Spanish Banks, together with the stress tests need to demonstrate they carry on with their liabilities when they are asked bout them. Many citizens damaged by excesses of Banks will be given back what is theirs. It will be very soon, we are certain about this.
By the way....how is your summer in Spain going?
Best,
Maria
Sunset in Sierra de Grazalema by Roberto Carlos Pecino at Flickr.com