Snap Fact #177

The Obama Administration Stands Up To The “Bad Guys” While They Also Honor The “Good Guys”!
Under President Obama's watchful eye, the 111th Congress showed its resolve to toughen the fight against economic crimes by passing the Fraud Enforcement and Recovery Act of 2009. The act changes the definition of a financial institution for the purposes of Federal criminal law to include mortgage lending businesses, which are defined as “organizations which finance or refinance any debt secured by an interest in real estate, including private mortgage companies and any subsidiaries of such organizations, and whose activities affect interstate or foreign commerce.” The crime of major fraud against the United States, which previously covered only fraud in government procurement and contracts for services, is amended to include a wider range of government involvement. The Act defines proceeds in the money laundering statute as “any property derived from or obtained or retained, directly or indirectly, through some form of unlawful activity, including the gross receipts of such activity.” 

The fight against crime also included support for policemen throughout the United States. President Obama honoured the National Association of Police Organization’s Top Cops award winners at the White House, commending them for their "incredible acts of courage and quick thinking, which prevented harm and saved lives." The president and vice president centered their remarks on the critical need for funding for law enforcement across the nation.
Vice President Biden spoke first and noted the president’s commitment to law enforcement, as seen in the federal recovery act. "Over $4 billion was placed in that emergency legislation to hire new officers, for new equipment such as bulletproof vests, and for new technologies, to give you the tools to do your jobs more safely and more efficiently," Biden said. 

President Obama specifically touted the $1 billion marked in the recovery act for the COPS program and another $2 billion in grants for police officers across the nation. Obama said that in these tough economic times, a big concern is that state and local governments will be forced to lay off police officers. Obama noted that at a police academy graduation ceremony in Columbus, Ohio in March, he addressed a group of 25 new police recruits whose jobs were saved by the stimulus bill. "These new officers are now protecting the streets of Columbus because of those grants..at a time when we face economic crisis born partially from irresponsibility on Wall Street and in Washington, I’m heartened by the folks who are standing behind me today who’ve demonstrated, with acts of selflessness and bravery, what it means to be responsible, what it means to be a problem-solver, a mediator, an investigator, and protector all wrapped into one; what it means to wave goodbye to your families and start another shift unsure of how it will end; and what it means to put your life on the line for a partner or a stranger in order — in other words, what it means to serve."