Washington (CNNMoney.com) - The Senate on Thursday afternoon passed the most sweeping set of changes to the financial regulatory system since the 1930s, sending the Wall Street reform bill to President Obama.
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This Congress will go down as the MOST productive in history. Sorry about that, Republicans but learn to live with it.
Gee, do you think Obama will name a former Golman Sachs executive to administer it just like he named a former Wellpoint exec to administer healthcare reform? What a corporate tool. Have a nice day!
An interesting comment from one of our fine republican legislatures... this bill is going to kill jobs.
Just a hunch here...I believe it was the LACK of regulation that caused the collapse of the financial industry creating the vast amount of unemployed American workers not seen in decades.
And once again, the Party of No1 shows its true colors. Why anyone but billionaires would vote for them is beyond me.
'Truth-Bomb Thrower – July 15th, 2010 1:01 pm ET
First of all, the economic collapse was NOT caused by too little regulation. It was caused mostly by the federal government pressuring lenders to lend to low-income people, regardless of their capacity to pay the money back.'
As usual you are wrong dude. Too little regulation, that prevented that the subprimes could be used as they were as financial assets (and in the absurdly greedy way that they were), was the main cause behind the recent economic crash.
Where were the minimum of regulation to prevent that, for selfish interests, the banks used so much 'dirty papers' as warranties?
Does anyone really think that this has any teeth to it? Come on, Wall Street basically helped write it. It makes "too big to fail" a permanent thing. It is good to big business. That's all you need to know.
Two years in office has yielded...
1. Health Care Reform
2. Wall Street Reform
3. Nuclear Weapons Reduction Treaty with Russia
4. Immigration Reform (next)
5. Nobel Peace Prize
Beck, Palin, Limbaugh, Hannity, Bauchman et al. don't fear this President because he is black. It is because he is successful.