Another Dem Victory!!!!

[Mr. Shaman]

"Lawmakers hammered out a historic overhaul of financial regulations as dawn broke over the nation's capital on Friday, handing President Barack Obama a major domestic victory on the eve of a global summit devoted to financial reform.

In a marathon session of more than 21 hours, legislators agreed to a rewrite of Wall Street rules that will crimp the industry's profits and saddle it with tougher oversight and tighter restrictions.

The reform must still win final approval from both chambers of Congress before Obama can sign it into law, giving Wall Street one final chance to deploy its army of lobbyists on Capitol Hill. Quick approval is expected and the reform could go to Obama for his signature by July 4.

The bill has actually gotten tougher in its yearlong journey through the halls of Congress. Democrats rode a wave of public disgust at an industry that awarded itself rich paydays while much of the country struggled through a deep recession caused by its actions.

The most sweeping rewrite of financial rules since the 1930s aims to avoid a repeat of the 2007-2009 financial crisis, which touched off the recession and led to taxpayer bailouts of floundering financial giants. Financial institutions would have to pay $19 billion to cover its costs.

Passage of the bill, now widely expected, will also give Democrats an important legislative victory, alongside healthcare reform, ahead of congressional elections in November. The House could vote as soon as Tuesday, Frank said."

“This is going to be a very strong bill, and stronger than almost everybody predicted that it could be and that I, frankly, thought it would be,” House Financial Services Committee Chairman Barney Frank, a Massachusetts Democrat, told reporters June 23 as lawmakers prepared for the final round of talks.

The bill seeks to protect consumers, curb risks, boost surveillance of emerging threats to markets and give regulators more emergency powers to avoid future taxpayer-funded bailouts of too-big-to-fail firms."

 

[Mr. Shaman]

"This would not have happened if George Bush was president," House Financial Services Committee Chairman Barney Frank of Massachusetts said in an interview. "I hope it helps deal with some of the cynicism about the system, first of all the notion that big money wins everything."

Has the Porky Limbaugh designated anyone (yet) to apologize to Corporate America....or, is it gonna be (pretty-much) the same team that's been apologizing to BP??

(I'm sure that's why Republicans were unable to vote; too-busy scripting their apology.)​

 

[CrusaderFrank]

"This would not have happened if George Bush was president," House Financial Services Committee Chairman Barney Frank of Massachusetts said in an interview. "I hope it helps deal with some of the cynicism about the system, first of all the notion that big money wins everything."

Has the Porky Limbaugh designated anyone (yet) to apologize to Corporate America....or, is it gonna be (pretty-much) the same team that's been apologizing to BP??

(I'm sure that's why Republicans were unable to vote; too-busy scripting their apology.)​

"These two entities—Fannie Mae and Freddie Mac—are not facing any kind of financial crisis,-- Barney Frank

 

[Baruch Menachem]

Ah, my Neg rep person showes up again.

One color, left justify (You do that in your posts, why can't you do that in your text, I have no idea) plain text.

or I neg you. And so will everyone else. You trying for four medallions or something on neg rep?

You start showing some consideration and some good manners, I will leave you alone.

 

[Avatar4321]

Kind of sad when destroying the nation is a Democrat victory.

The economy will only take so many of these "victories".

 

[CrusaderFrank]

A Democrat Victory is an American defeat.

 

[JimH52]

No Republican Congress or Administration would come close to trying to regulate wall street. Money does not attack money.

 

[EriktheRed]

Looks like mostly window dressing to me.

 

[caddis]

​

Don't know why you are applauding another government intrusion. In case you haven't heard who is responsible for this new bill:

After a marathon legislative session Senator Chris Dodd and Congressman Barney Frank seem to have reached a compromise that will lead to the passage of the Financial Reform Legislation. Dodd and Frank were at the epicenter of the Fannie and Freddie debacle, both recipients of large donations from the quasi public company that holds mortgages. With this dubious track record, it is not very reassuring to have this pair involved with the new legislation. Even more so when Senator Dodd said; " "No one will know until this is actually in place how it works. But we believe we've done something that has been needed for a long time."

Let's all collectively bend over and take another federal shot in the ass.

 

[Avatar4321]

No Republican Congress or Administration would come close to trying to regulate wall street. Money does not attack money.

What are you talking about? Democrat politicians are the richest people around. And they purposely call for policies that will keep the poor and the middle class down so that no one else will ever become rich and challenge their power.

The people in wall street have to provide goods and services to the American people and the people of other nations. If they get rich, it's because everyone benefits from their products and services.

When a politician gets rich, it's because he has screwed the little people.

 

[Trajan]

gee, anyone notice a trend here?

Speaker Nancy Pelosi March 2010
“But we have to pass the bill so that you can find out what is in it, away from the fog of the controversy."




Christopher J. Dodd (D-Conn.), who as chairman of the Senate Banking Committee led the effort in the Senate.

“No one will know until this is actually in place how it works. But we believe we’ve done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done.”

 

[Dont Taz Me Bro]

No Republican Congress or Administration would come close to trying to regulate wall street. Money does not attack money.

Actually, taking the top 15 richest politicians in Congress in 2010, nine of them are Democrats and six are Republicans.

News Headlines

 

[Dont Taz Me Bro]

Kind of sad when destroying the nation is a Democrat victory.

The economy will only take so many of these "victories".

What bothers me most about his post is that he is more concerned about a victory for Democrats than he is for the American people. I don't care which party does what as long as what they are doing is good for the people of this country. He should be putting country before party, not the other way around. It's that kind of incredible partisanship that is giving us such a crappy government.

 

[Mr. Shaman]

Kind of sad when destroying the nation is a Democrat victory.

Great fact-free rhetoric.


​

 

[Avatar4321]

Kind of sad when destroying the nation is a Democrat victory.

Great fact-free rhetoric.


​

What isn't accurate?

Is this or is this not a power grab by politicians?

Aren't the corrupt politicians orchastrating the bill the ones who caused the problem to begin with?

How exactly does this benefit our nation? The problem is corruption and dishonesty. Laws and regulations cannot stop dishonesty or corruption. People who disobey current laws aren't going to start obeying them simply because someone in Congress passed more.

How does it benefit our country to tell the people that we can't know and won't know what's in the bill until after it's passed?

On what planet do our Representives get to do what they want without representing us?

 

[Charles_Main]

"This would not have happened if George Bush was president," House Financial Services Committee Chairman Barney Frank of Massachusetts said in an interview. "I hope it helps deal with some of the cynicism about the system, first of all the notion that big money wins everything."

Has the Porky Limbaugh designated anyone (yet) to apologize to Corporate America....or, is it gonna be (pretty-much) the same team that's been apologizing to BP??

(I'm sure that's why Republicans were unable to vote; too-busy scripting their apology.)​

"These two entities—Fannie Mae and Freddie Mac—are not facing any kind of financial crisis,-- Barney Frank

Yeah classic, Fanni and Freddie are just fine.

What a bunch of lying idiots.

 

[CrusaderFrank]

gee, anyone notice a trend here?

Speaker Nancy Pelosi March 2010
“But we have to pass the bill so that you can find out what is in it, away from the fog of the controversy."




Christopher J. Dodd (D-Conn.), who as chairman of the Senate Banking Committee led the effort in the Senate.

“No one will know until this is actually in place how it works. But we believe we’ve done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done.”

American Fascism

 

[Avatar4321]

Yeah classic, Fanni and Freddie are just fine.

What a bunch of lying idiots.

Yet we are supposed to blindly believe that these corrupt politicians who caused the problem are going to magically fix it by passing legislation that no one can understand or see until after it's passed.

How do you protect the hen house from foxes by letting the foxes choose the guards?

 

[Charles_Main]

Yeah classic, Fanni and Freddie are just fine.

What a bunch of lying idiots.

Yet we are supposed to blindly believe that these corrupt politicians who caused the problem are going to magically fix it by passing legislation that no one can understand or see until after it's passed.

How do you protect the hen house from foxes by letting the foxes choose the guards?

The short answer is you don't.

The problem we are facing now is unlike some in here, the Dems in congress are fully aware come November they are toast. So now they will push every controversial piece of legislation they can through, and damn the consequences.

 

[Mr. Shaman]

​

Don't know why you are applauding another government intrusion.

You call "regulation" intrusion?????

I think most people have seen the benefits of Allowing The Marketplace To Regulate Itself, during BUSHCO's eight years.



(How odd we haven't seen the traditional AUTO-$PIKE, in prices-at-the-pump [that were SOP, during the Bush Years, when there was a gas/oil-anomaly of ANY kind])!!!
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