July 15th, 2010
02:58 PM ET
4 years ago

Senate passes financial regulatory reform bill

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.

More on CNNMoney.com


Filed under: CNNMoney.com • Financial Reform
soundoff (32 Responses)
  1. ATL Guy

    Where are the "The Sky Is Falling" Republicans? They have yet to introduce a bill that would do all the wonderful things they say they know how to do. They want to repeal healthcare reform but haven't shown us what they'll replace it with. Apparently what we have currently is good enough for them. Now they want to repeal the financial reform bill but wouldn't say what their "commonsense" ideas are. Why?? Because they have none. They screwed up the economy when they were in control and now they want it to fail outright so they can pin it on Obama.

    July 15, 2010 03:05 pm at 3:05 pm |
  2. NVa Native

    As Obama takes back our government from the fascists and promotes reducing corporate control over our government it must drive the tea-baggers and neo-cons wackos nuts. By just reading all the anti-American comments on these posts/bloggs is proof of that.

    Thank you to our Democratic President and his party for standing up for the middle-class, small businesses, and everyday citizens.

    July 15, 2010 03:06 pm at 3:06 pm |
  3. Steph

    Woo Hoo! In case you were wondering, that hopey changey thingy is workin' out just fine! Yes We Can! Yes We Did!

    July 15, 2010 03:09 pm at 3:09 pm |
  4. BeverlyNC

    FINALLY!

    President Obama and the Democrats have delivered for the Ameican People yet again. The banks are now re-regulated and can no longer abuse us with credit card rates, loan schemes, and there are rules that allow one bank to fail without bringing down the others. The banks also have to put money in a fund to bail themselves out so taxpayers don't have to anymore.
    This is a great victory for PEOPLE,. We now have another abusive industry under control and regulated so they can do no more damage.

    THANK YOU PRESIDENT OBAMA AND THE DEMOCRATS IN CONGRESS! THANK YOU FOR STANDING UP FOR THE PEOPLE AND DELIVERING SOLUTIONS FOR EACH AND EVERY ISSUE THE REPUBLICAN SCREWED UP.

    Now we need the Jobs Bill (Republicans keep blocking), Clean Energy and Federal Immigration Reform and our country will be on a strong path to an even better future.

    July 15, 2010 03:10 pm at 3:10 pm |
  5. Oh Boy,

    Well, let's see how much damage this does to the economy, did they bother to reform Barney Frank and Chris Dodd for the fannie/freddie fiasco that started the meltdown? Have they reformed frannie/freddie?
    NO. They should clean up their own backyard first. Then circumvent the system to put a man in charge of healthcare that has already stated that he thinks rationing and a single payer system is the best way for healthcare. More chigago type politics that will screw the people and bring on health care shortages and deaths due the governments interference.

    July 15, 2010 03:13 pm at 3:13 pm |
  6. jeff jackson, alabama

    Sooo many of you supporters of this bill are
    going to be flabbergasted when you learn the
    details.
    So many things in your financial lives you took for
    granted are going to disappear .
    All this because you followed your pied pipers with
    blind party loyalty with out asking enough questions.
    You ask for it and now you've got it.
    Live with it.

    July 15, 2010 03:13 pm at 3:13 pm |
  7. Papasan in AZ

    P.S. Wall Street gets a big pass, billions in bail outs and a slap on the wrist. Business as usual...

    Once again the needs of the Financial World are put before the needs of every day Americans, Washington doesn't care about Main Street USA!

    July 15, 2010 03:16 pm at 3:16 pm |
  8. Bertina

    Gotta repeal because fat cats might not get multimillion dollar bonuses. How sad.

    July 15, 2010 03:17 pm at 3:17 pm |
  9. Mikey

    Landmark healt care reform that had been attempted by Republicans and Democrats going all the way back to Teddy R. The biggest financial reform legislation since 1933. Winding down the war in Iraq. Huge increase in success capuring and killing al Queda operatives. Vast improvement in foreign relations accross the globe. A recovering economy (albeit slowly). Probably two for two in supreme court nominees. Expect long overdue repeal of don't ask, don't tell. Probably will enact landmark immigration legislation. Will work toward landmark energy policy legislation.

    Are we are looking at the most accomplished first term President in U.S. history?

    July 15, 2010 03:18 pm at 3:18 pm |
  10. Todd

    Too bad that the little people will suffer in the end. The dems try to make us believe that this will punish the rich, but it's my bank who no longer offers free checking. This will, in fact, punish the poorer folks, first.

    July 15, 2010 03:19 pm at 3:19 pm |
  11. norma

    Why is this needed? Aren't we all havin' fun tryin' to recover from the deepest economic downturn since the great depression? It's like a fun roller coaster. People pay big admission prices to ride coasters like this. Weeeeeeee! Yahoo!!!!! Don't you love to lose your job, your house and your savings? Where's your adventurous spirit? This type of regulation will ruin all the great fun we've been havin' since the recession began in 2007.

    July 15, 2010 03:21 pm at 3:21 pm |
  12. KEVIN

    You go Democract this is a banner year for you and the President. The Democract are cleaning up the MESS that the phony ReThugliCan't -Phony Convers have destoryed. We the Democract are the only one who have this country best interest at heart. So, now what are you ReThugliCan't are you going to cry about now, that President Obama to you idea (oh wait you have no idea). No idea, No solution, No brain, No backbone, No spine. ReThugliCan't = Useless.

    July 15, 2010 03:22 pm at 3:22 pm |
  13. C Spurgeon

    Excellent, now ntake note of the no votes from your states and vote accordingly. Republican senators in Florida vote as they are ordered, not as they may think. They need to go and get some in who will start working for us instead of some airhead leader.

    July 15, 2010 03:24 pm at 3:24 pm |
  14. Sniffit

    Cry more GOPers...your tears sustain me. You had your say, so don't pretend you didn't. This bill wouldn't have been watered down if conservatives weren't exerting some influence and just because you lost the vote doesn't mean that suddenly representative government is broken.

    BTW, the majority supported this, so you can shut up any time you'd like to do some damage control. Boehner promising to repeal it before it was even enacted wasn't a good start.

    July 15, 2010 03:25 pm at 3:25 pm |
  15. Girll Friday

    Let the fights (courtesy of the blogosphere) begin!

    July 15, 2010 03:27 pm at 3:27 pm |
  16. one voice

    Reform and Regulation are SCARY words for Republicans.

    July 15, 2010 03:35 pm at 3:35 pm |
  17. Ron

    Anybody who thinks MORE governmental regulation will benefit this country is a fool and an idiot. Congratulations – you have passed yet another bill that will further deteriorate this economy. Do you realize that Obama is INTENTIONALLY destroying this country? That is the only way they can further control the subservants (all of us). You have supported yet another governmental intervention that is destroying this country. Don't go whining to me in three years when we are in the midst of the greatest economic decline that will mimic the Great Depression..............

    July 15, 2010 03:35 pm at 3:35 pm |
  18. Peloser Idioso

    What happened to the comment section on pelosi? had to be permalinked because of the overwhelming negative comments, huh.

    July 15, 2010 03:39 pm at 3:39 pm |
  19. awaitingliberalizationbyCNN

    I hate being this cynical, but based on the last year and a half, I can't help but feel that anything supported by the corrupt, inept, union toady president we have and passed by this corrupt congress cannot be good for the hardworking American taxpayer. We have been robbed so much in the past year and a half and had so much of our freedom taken away by this band of thieves.

    July 15, 2010 03:40 pm at 3:40 pm |
  20. Louise in NC

    This is one vote that the American people are going to remember-REPUBLICANS SAYING NO TO PROTECTING THE AMERICAN PEOPLE AND THE ECONOMY FROM ANOTHER RECESSION. The say-no Republicans will pay at the ballot box-They treat the whole thing as a joke-mark my word, the joke will be on them!!!

    July 15, 2010 03:40 pm at 3:40 pm |
  21. ThinkAgain

    Thank you, President Obama and the Democratic leadership!

    Wall Street and the banks proved beyond a shadow of a doubt that all they care about is short-term gain, at the expense of our nation's citizens and economy.

    To all those people squawking about the Federal government "meddling" I say this: Wall Street and the banking industry brought this upon itself.

    If they didn't want to be regulated, they should have behaved more responsibly and not like the bunch of gambling addicts they are!

    July 15, 2010 03:45 pm at 3:45 pm |
  22. NC

    Yes We Can.

    July 15, 2010 03:51 pm at 3:51 pm |
  23. BB

    It needed to be stronger, but at least it's a start!
    Thank god we have a Democratic President and Democratic Majorities.
    There is no way Republicans would have ever done anything to protect the American people, the only thing they are concerned with is protecting the top 2%, and anyone making less than $250,000.00/yr
    and votes republican votes against their own self interest by buying into the spoon fed garbage.

    Great Job!!!!!!!!!
    Go Dems 2010!!!!!
    Go Obama 2012!!!!!

    July 15, 2010 03:52 pm at 3:52 pm |
  24. since the 1930s

    so Bushies

    not since the 1930s has it been this screwed up

    way to go 'W'

    July 15, 2010 03:53 pm at 3:53 pm |
  25. Marcus

    Cue to Libertarians calling it socialism.
    Cue to republicans calling totalitarianism.
    Cue to FOX News calling it 'a sad day for America'.
    Cue to...

    July 15, 2010 03:53 pm at 3:53 pm |
1 2