June 19th, 2010
10:25 AM ET
5 years ago

Wall Street reform comes down to the wire

Washington (CNNMoney.com) - With one week down and one week to go on negotiations melding the two Wall Street reform bills, lawmakers have a lot of tough decisions ahead.

House and Senate negotiators had set a goal to finish work on reconciling the bills – aimed at preventing the next financial crisis – before President Obama heads to Canada on Friday for two major summits of world leaders.

So crunch time is on. Negotiators meet again Tuesday, which only leaves them a few days. And they have yet to consider some of the more complicated and controversial issues, such as protecting consumers who buy financial products and shining a light on complex financial contracts.

Additionally, they also have to continue working on issues they broached but didn't resolve over the past week of negotiations, such as differences in creating a panel of regulators tasked with keeping an eye on risk in the financial system.

Full story on CNNMoney.com


Filed under: Congress • Financial Reform • Wall Street
soundoff (16 Responses)
  1. katiec

    If theA merican people need any more proof that the republicans have undying love and support for Wall St, this is it. They do not hesitate to sacrifice us and our country for their personal gains, goals and beliefs.
    They are a disgrace to our political process and our country.

    June 19, 2010 11:14 am at 11:14 am |
  2. Mickey, NY

    ...and every single Republican politician sheister-shill will vote against it...

    GOP: Domestic terrorists

    June 19, 2010 11:25 am at 11:25 am |
  3. Freeman S. Peach

    Freaking too awful funny...

    The Democratic Congress and Obama's tax cheat Geithner first give Wall street bankers billions in bail outs because they are too big to fail. They took the money and made billions of their own, now let's reform them, how about this Rookie Dunce in Chief, enforce our laws and regulatory statutes instead of continually taking a dump on the Constitution and blaming dogs for being dogs. Government has failed to regulate, business has done what businesses do and that is turn a buck, Government is failing, not Capitalism.

    When you pay for a vote with a check in the mail, it wont be too long for our Nation to Fail!

    June 19, 2010 11:47 am at 11:47 am |
  4. Discernment

    REPUBLICAN-GOP OBSTRUCTIONIST HARD AT WORK

    After Banks and Wall Street nearly destroyed the nation's economy, you would think Republican-GOP would just love to pass a reform bill to ensure this economic disaster never happens again?

    Oh, wait. I forgot. The Banks and Wall Street own the Republican-GOP, and right now lobbyists for Wall Street are pulling Republican strings to make sure reform does not happen.

    June 19, 2010 12:02 pm at 12:02 pm |
  5. ThinkAgain

    The banks have proven that they are irresponsible, negligent and utterly incapable of making decisions that benefit their customers.

    The banks deserve to have very strict oversight and reasonable regulations to keep them from gambling away their customers' money.

    If they can't make a profit in that kind of environment, then they don't deserve to be in business.

    June 19, 2010 12:04 pm at 12:04 pm |
  6. ThinkAgain

    Freeman S. Peach: The bank bailouts were started under GW Bush; the banks ran amuck in part because of the de-regulation of the Republicans.

    If President Obama's policies pulled our country back from the brink of a Great Depression.

    If these regulations don't pass with teeth in them, it will be the fault of the Republicans who are in the pocket of Wall Street and big business.

    June 19, 2010 12:06 pm at 12:06 pm |
  7. Precious

    Why can't we take our time to do things right? Do we have to finish everything before the President leaves for a trip. We have 365 days in a year not "7". If the American people comes first, then we need the time to do it right. Rome was never built in one day....it takes 7 days to make one week, 4 weeks to make one month and 12 months to make one year. Let's make sure that everything we do are for the best interest of the American people, and not just to do something because we have the power to do it.

    June 19, 2010 12:26 pm at 12:26 pm |
  8. Nothing is too big to fail

    Audit The Federal Reserve, or everything will be the same

    June 19, 2010 12:27 pm at 12:27 pm |
  9. Dave R.

    The Republican party is a wholly owned subsidiary of Wall Street, Insurance co's, big oil and the big (little) 3. Their version of free market enterprise without any strong oversight and accountability is what lead to the failures in ll four of these industries that the country has experienced.

    June 19, 2010 12:38 pm at 12:38 pm |
  10. Steve A. , New Braunfels , Texas

    It is to be remembered...the Bail out of wall street was Bush's brainchild,so,before all you republicans start commenting...stop and think.

    June 19, 2010 12:48 pm at 12:48 pm |
  11. Don of Iowa

    The Republikkkan Congress and the Republikkkan President gave Billions to Wall Street interests after their good ole buddies messed up and almost bankrupted the whole country and now they are dying to give even more comfort and aide to the same idiots that have put us in the worse recession since the Great Depression. If you ever had any doubts about how little Republikkkans care for anyone who makes under 250,000 dollars a year then this is the wake up call you have been needing, If you are an everyday American and not some corporate big shot or Wall street Banker then the Republikkkan party has one answer for you, NO, tough doo doo, get a job you lazy worthless trash and leave us haves and have mores alone because we could care less if you starve and die, we are too busy making sure out rich big shot supporters who pay for our elections are being well taken care of at the expense of you little slobs who do nothing but whine and cry because we robbed you blind, WHO CARES? Certainly not us of the GOP=Greedy Old Pigs!

    June 19, 2010 12:58 pm at 12:58 pm |
  12. harold

    The "Corporate Party".. will try its best to scuttle the control of big business from wrecking our Economy again ... We need regulations and a leach on the dog....Don't we?

    June 19, 2010 01:17 pm at 1:17 pm |
  13. Bobby in Atlanta

    When will the Republican party ever stand up for the average American worker? The Republicans will fight and defend any and all corporations til the death, but will not stand up and fight for the average American. Why do Republicans hate America so much?

    June 19, 2010 02:22 pm at 2:22 pm |
  14. thor

    Obama the party of the rich,ala Soros,Moore.and Buffet.!!!

    June 19, 2010 02:49 pm at 2:49 pm |
  15. Kim mpls, mn

    It is so sad that the 300 million people have allowed the some 540 members of congress to run this country into the ground for the sake of money instead of the reasons they were sent there for.

    We should be ashamed to let have let lobbyists run this country and we are now deserving of what ever happens. They (the lobbyist) have devided this country with lies and we shall pay for it.

    Wallstreet will climb out of this downturn unscathed when it's all over.

    This fall when you vote, vote that congress doesn't have or get anything that we don't get and remind them who is working for who.

    My guess is that the party who created the mess will likely win due to the lies!

    June 19, 2010 02:51 pm at 2:51 pm |
  16. MCD, SF, CA

    Seems to me that there is plenty of blame to go around – both leading parties have hung the American People out to dry. And now we find out that 2/3s of the panel deciding on the restructuring have stock in the big financial institutions! It is time we started shouting "SHAME" loud and clear!

    June 19, 2010 03:21 pm at 3:21 pm |