Sweeping Wall Street Reform Bill Advances

MSNBC ^ | May 20, 2010

[Steelfish]

Sweeping Wall Street Reform Bill Advances Legislation is one of President Barack Obama's top domestic priorities WASHINGTON - U.S. Senate Democrats nabbed the 60 votes needed on Thursday to advance the biggest overhaul of financial regulation since the 1930s, paving the way for a final vote on passage within days.

The legislation is one of President Barack Obama's top domestic priorities. The bill calls for new ways to watch for risks in the financial system and makes it easier to liquidate large financial firms that are failing.

It also writes new rules for complex securities blamed for helping precipitate the 2008 economic crisis. And it creates a new consumer protection agency.

The Senate voted 60-40 to end debate on the bill as U.S. stocks fell sharply. Barney Frank, the Democratic head of a key House committee, told CNBC television news it is important to get financial reform approved quickly to ease market uncertainty. He said he expected Obama could sign a bill into law well before July 4.

[Snoopers-868th]

No he is not still 41 to H/C. My mistake. I could have sworn he was for smaller govt, lower deficit and spending. I guess it only matters when you are running for office then you can abandon all that. Where are all those people who wanted him to be president, now? Sheesh what a dud he has turned out to be for our side.

[Mouton]

I’ve said it before, I will say it again...give Maine and Massachusettes back to the king...we don’t need them and their liberal a holes here.

[Puppage]

See Post #32. The Federal banking regulations worked well enough for more than 65 years. Do you think it’s a coincidence that the foundation for our recent economic collapse was laid when those regulations were overturned in 1999?

Ask yourself just WHAT problem(s) is Obama trying to fix, hmmm?

Do you trust the man? I sure don't. He's already ruined healthcare & the country with closed door deals. I guess you'll feeeeeeeeeeeel happy when he does it this time, too?

[VanDeKoik]

Maine used to be part of Mass-hole.

Apparently we just doubled-up the stupidity by having them be 2 different states.

[JohnQ1]

Two years of words — some of them very good words — have slowed and turned Hussein not one bit. Question: do Secret Service personnel pledge to protect the president, or to “preserve, protect, and defend” the US Constitution? Hussein is clearly at war against the Constitution as well as the American people, so where does their duty lie?

[opentalk]

This is the one that allows them to track each and every financial transaction. every credit card, debit card, check, deposit and withdrawal.

In his 1970 book Between Two Ages: America’s Role in the Technetronic Era, Zbigniew Brzezinski wrote the following.

“The technetronic era involves the gradual appearance of a more controlled society. Such a society would be dominated by an elite, unrestrained by traditional values. Soon it will be possible to assert almost continuous surveillance over every citizen and maintain up-to-date complete files containing even the most personal information about the citizen. These files will be subject to instantaneous retrieval by the authorities.”

Brzezinski is an Obama advisor, anti-Israel and globalist.
Add electronic medical record from Obamacare to this.

[Windy City Conservative]

After Brown YES vote on cloture to seal the deal, the Dow dropped another 150 points for the day. Thanks for everything Mr. Brown. Obama is waiting for you to make it to your weekly appointment to play a game of hoops.

[Alberta's Child]

Of course. Robert Rubin served as the Secretary of the Treasury from 1995-99 and then left to join Citigroup's board of directors.

While serving as Treasury Secretary he was an outspoken opponent of Federal regulation of over-the-counter credit derivatives.

[jersey117]

That pretty much finished off the downturn. It was hovering around -200 until this crap passed.

[Alberta's Child]

I don't trust any of them -- and by "them" I mean Big Government as well as Big Business.

Politics makes for strange bedfellows. Bank of America (who I trust less than anyone else in financial services, with the exception of Goldman Sachs) has adamantly opposed this reform bill. That's reason enough for me to take an objective view of the whole thing.

[Mouton]

Time for Texas to split into 5 states as was guaranteed.

In fact, maybe we should split Az into two states too.

[grumpygresh]

This bill is a big deal and will allow the IRS to have even more power over financial transactions. In fact, it might be a good time to take money out of your savings account, buy a safe and put gold in it.
Brown is a phony rino and will not be re-elected even in liberal MA. He will just not have the base of support from the Tea Party activists.

[july4thfreedomfoundation]

I live in Maine, and I sure as hell don’t want to be part of gun-grabbing, liberal Canada, thank-you very much.

[massgopguy]

The accession was signed by Christian Remmick. My ancestor.

[Norman Bates]

None of them are.

[Carling]

He did vote “yea” to put the bill to a vote. If he votes against it, he'll be in John Kerryville. “I voted for the bill before I voted against it.”

What a disaster this guy is turning out to be. How long before he flips and caucuses with the Dems?

[opentalk]

I remember reading the original Dodd bill will let Soros and Hedge funds off the hook (MFA)

[nina0113]

Well, it ended the uncertainty all right - we ARE going down the sh!tter.

[GeronL]

RINO’s.

We need hunters.

[mojitojoe]

Brown, I knew it. Collins, Snowe and Brown are the bane of our existence.