Iraq, economy, banking, budget, and financial markets – in spite of the risks that are entailed, Barack Obama has chosen to launch a political offensive on multiple fronts.

After six years of war and more than 4,200 American soldiers dead, the new head of the White House closed the chapter of the most dangerous adventure in Iraq. But, as anticipated, the decision does not end the American presence in Iraq. Tens of thousands of soldiers will remain in the country to train Iraqi forces, watch over U.S. facilities, and hunt down terrorist cells. In his speech to both Houses of Congress, Obama promised that the US will leave Iraq in the hands of its people and that America will end the war in a responsible way.

Under Obama’s leadership, the spending of 800 billion dollars of stimulus plan for the economy will be strictly monitored. The President announced the principles that will inspire new and more stringent rules for markets and financial institutions, aimed at preventing the recurrence of a crisis like the present one and restore “accountability, transparency and trust.” The government, said Obama, will reserve the right to monitor more closely the extent and potential severity of risks assumed by each financial institution.

The Treasury has revealed more details of the rescue plan for banks, which should lead to the acquisition of ordinary shares with voting rights by the government. The 19 largest institutions will have 6 months to seek new private capital, or receive new federal funds. According to some rumors, Obama is preparing to ask Congress more than 634 billion dollars for health care reform, to be spread out over the next 10 years.

Obama is more interested in fighting another war, this time on the homefront. And it looks like the enemies are real, this time.

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