|
Posted on 06/25/2010 10:16:01 AM PDT by lbryce
House and Senate negotiators reached a dawn agreement Friday on legislation that redefines federal oversight of Wall Street and, following the signing of the health care act in March, adds another milestone to mark the Obama presidency.
President Barack Obama declared victory Friday after congressional negotiators reached agreement on a sweeping overhaul of rules overseeing Wall Street.
Lawmakers shook hands on the compromise legislation at 5:39 a.m. after Obama administration officials helped broker a deal that cracked the last impediment to the bill — a proposal to force banks to spin off their lucrative derivatives trading business. The legislation touches on an exhaustive range of financial transactions, from a debit card swipe at a supermarket to the most complex securities deals cut in downtown Manhattan.
Speaking to reporters as he left the White House to attend an economic summit of world leaders in Canada, the president said he was gratified by Congress' work and said the deal included 90 percent of what he had proposed. He said the bill, forged in the aftermath of the 2008 financial meltdown, represents the toughest financial overhaul since the Great Depression.
"We've all seen what happens when there is inadequate oversight and insufficient transparency on Wall Street," he said. "The reforms working their way through Congress will hold Wall Street accountable so we can help prevent another financial crisis like the one that we're still recovering from."
Asked by reporters whether he can get the financial measure through the Senate, Obama said, "You bet."
(Excerpt) Read more at news.yahoo.com ...
What are we going to do after they pass this?
|
I hope someone is keeping a list of all the bills that will need to be repealed when the Republicans take back the house & senate.
I call it Fascism. One more item checked off the “to do” list for the Fascistic-corporatist oligarchy that is our federal government.
And what pray tell did they repeal during the eight years they were in the majority? I expect lots of talk and little action from them.
He’s actually quite successful on his agenda - to destroy the nation & create chaos throughout the earth.
Write letters and tell them how mad we are? Or we can have a tea party.
The clock is ticking for our countries demise at the hands of the dems. People used to worry about the doomsday clock. This demise clock is moving more like a second hand.
“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.” Dodd...
Another bill they haven’t read or figured out...but they passed it!
http://www.washingtonpost.com/wp-dyn/content/article/2010/06/25/AR2010062500675_pf.html
It ain’t over, ‘til it’s over.
Keep it from passing.
Evey one of our senators needs to reject any and all unanimous consent requests, period, end of story.
“Obama Claims Victory...”
“another milestone to mark the Obama presidency”
With every passing day, the news is reading more and more like something out of Orwell’s 1984.
Big Brother claims glorious victory...another milestone for Dear Leader.
This is the first step toward nationalizing all private retirement accounts. Just watch.
Too true. But if we get NEW, rabid TEA Party folks, we just might see some action this time. Or else we are going to have a revolution.
I’m disgusted.
I hope someone is keeping a list of all the bills that will need to be repealed when the Republicans take back the house & senate.”
Just repeal ALL of them handled by this Congress.
We already have the Executive Orders.
And soon thereafter, they will confiscate such accounts to pay for the defunct social security scam. For the betterment of society, doncha know. Thank you for being a good little citizen, love, Obama.
Yeah, that’s worked well.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
.jpg)
