Washington (CNNMoney.com) - A key banking panel took only minutes Monday to approve a sweeping regulatory reform measure aimed at warding off future collapses in the financial system.
The Senate Banking Committee voted 13-10 in favor of the bill put forth by panel chairman Sen. Christopher Dodd, D-Conn., moving it to the full Senate just after Dodd gaveled the hearing to order at 5 p.m. ET.
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dodd is a crook...
Dodd should be in jail for his past financial actions.
yeah,it was so watered down by Corker (rtn) that it means nothing.\
Pay Day Lenders got away because of Corker.
WOW! Look at them...deciding to work in a bipartisan manner. Now that Rush is moving to Costa Rica, the republicans are finally able to think for themselves. Watch it though. I hear Michelle Bachmann's gang of thugs will spit on you if you cross them.
Continuing to move forward. All Aboard!
Who are the ten idiots who voted against this reform?
Yet "ten morons" wanted it to be able to collapse our entire system again by creating or keeping products that took us to the brink.Proof that history repeats itself if allowed to do so.Meet the new Romans,that bet on us to die and other feats of gambling.
I thought we had lots of regulation! Are the politicians closing the barn door, again, after the horse is out?
We don't need more regulation, we need elected officials that do what we've sent them to do! Have the laws obeyed. Maybe Barney Frank should have been paying attention to what he was elected to do instead of whatever he is more interested in. He was the one person who was to have been watching what the lending institutions were doing. Oh that's right, I forgot. His "friend" is an official of Franny or Freddie Mac. I think he was regulating him.
All this reform is the Karma we've been waiting for after 8 years of corrupt republicans robbing this nation of the freedoms we deserve. Fat Cats' heads must be spinning now!!
Gee, I wonder who the 10 were who voted against the reforms? My guess is they were all Republicans.
Yep, the GOP thinks it's fine for irresponsible Wall Streeters to gamble with our money – and then come begging the taxpayers to bail them out when they inevitably fail.
Re-regulate them NOW! And those "best and brightest" who can't handle it – well, they didn't do that good a job anyway, now, did they? We can do without their "expertise" just fine, thank you very much!
Here we go with another overthrow of the free market without anyone hearing what's in the bill..........
Pass this bill already and put the Consumer Protection Agency outside of Tresurey Dept.
So we're going to let a crook like Chris Dodd fix Wall Street. Dodd along with some his cronies are the reason we're in a deep recession in the first place. Why isn't he behind bars now?
Per Sen Shelby, "A lot of our ideas have been incorparated in this bill" yet none of the repubs could vote for it. Burn it all down rather then work together is the republican way.
Do we really trust Chris Dodd anywhere near our Financial system???? I mean, really?
"In this bill, (Dodd) has already incorporated a lot of ideas that we've suggested, so I think we're on the right road now, and we've got to continue on the right road," Shelby said.
This is a great start and the same could have been done with the Health Care Reform. A "...lot of ideas that we've suggested..." was also in the Health bill – too bad you could not have embraced it!!!
Too LATE!!
I'm guessing All ten no votes were republicans...
Good for criss now if you could only do the same with cell phones and cable co