House Passes Sweeping Financial Oversight Bill (lets feds break up big risky companies)

The Wall Street Journal/Associated Press ^ | December 11, 2009 | Staff

[MaestroLC]

The House has passed a sweeping overhaul of financial regulations that would govern Wall Street and reconfigure the power of the agencies overseeing the nation's banking system. The vote was 223-202.

The legislation is a priority of President Barack Obama's. It is designed to address the shortfalls that led to last year's calamitous financial meltdown.

New powers would give the federal government the right to break up big risky companies. It also would create a consumer agency to police lenders.

[MaestroLC]

Tyranny.

Oppression.

[Lucky9teen]

Do You Support Raising the Federal Debt Ceiling?

[Gabrial]

Headline I would like to see:

“House Passes Sweeping Government Oversight Bill (lets citizens break up big risky government).”

[squarebarb]

Yes!!!

that should have been thought of by a Republican, but nooooo......

[Tzimisce]

This is fascism.

[Sacajaweau]

GM was a risky company....And we own it now.

[Drill Thrawl]

Like everything from the EMOcrats it’s based on feelings and opinions. Laws and actions should be based on fact not on deeming(opinion), riskiest (opinion). Fairness (feeling).

We are doomed.

[Bean Counter]

How about reining in Fannie Mae, Freddie Mac, the Federal Reserve, the FHA, etc??

[my small voice]

The legislation is a priority of President Barack Obama’s. It is designed to address the shortfalls that led to last year’s calamitous financial meltdown. ‘

Yeah, right. It is designed to steal the nations treasure and give to Soros. Get this P.O.S. out of office!

[Drill Thrawl]

citizens break up big risky government)

Break up, no. Liquidate and start over, YES!

[henkster]

Once upon a time this would have been immediately identified for what it is: Unconstitutional. Not anymore. The Rule of Law is Dead, no organ of the State recognizes any restraint on their powers, individual rights and liberties are only window-dressing fictions.

[Between the Lines]

This country was built on companies taking big risks.

No guts - no Ol’ Glory

[sam_paine]

Once upon a time this would have been immediately identified for what it is: Unconstitutional.

Well, you never know. In a couple years the first affected company could sue and take this to SCOTUS and maybe they'd push it back.

But then, my optimist hat doesn't fit well anymore.

[what's up]

Not sure why you think a Repub saying this would get any attention at all in the MSM.

[The Comedian]

It's pretty obvious that Congress and this administration are far too risky to allow to continue.

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

[americanophile]

In the original sense, yes. Fascism.

[marstegreg]

How long until they deem all NON-UNION companies risky? My guess is that this is a gift for unions more than anything else. Don’t know how, but I’m sure we’ll find out.

[Kenny]

The GOP should stop putting all their eggs in 2010/2012 elections and start paying their lawyers to block this crap. Otherwise, elections may be a moot point!

[don-o]

We are numbed to it now. Our liberty is going away before our eyes.

[Man50D]

Another reason to hammer away at politicians! Does anyone know the bill number or title? It’s not in the article.