Posted on 05/21/2010 9:15:26 AM PDT by day21221
Senate Passes Massive Financial Regulation Bill In its broad sweep, the massive bill would touch Wall Street CEOs and first-time homebuyers, high-flying traders and small town lenders.
WASHINGTON -- Prodded by national anger at Wall Street, the Senate on Thursday passed the most far-reaching restraints on big banks since the Great Depression.
In its broad sweep, the massive bill would touch Wall Street CEOs and first-time homebuyers, high-flying traders and small town lenders. The 59-39 vote represents an important achievement for President Barack Obama, and comes just two months after his health care overhaul became law.
The bill must now be reconciled with a House version that passed in December. A key House negotiator predicted the legislation would reach Obama's desk before the Fourth of July.
(Excerpt) Read more at foxnews.com ...
For those who are interested, here is the summary of what the bill is (since the reporters don’t seem to want to do their jobs):
http://banking.senate.gov/public/_files/FinancialReformSummaryAsFiled.pdf
Of course, they will continue to turn this thing into sausage and who knows how close the summary will be to the final bill. There is also the committee version with more detail and the actual bill on the site above. I read the committee bill yesterday. About 70% of it is good. For those that want more accountability like auditing the FED, the bill is watered down. The FED definitely survived in tact but will now have to decouple it’s cozy relationship with bankers to prevent things like AIG happening. The NY FED chairman (Geithner’s former job) will now have to be appointed by the government not the bankers. We are talking baby steps toward transparency and reigning in crony capitalism.
If you want Collins out of there, there needs to be a Conservative Republican who can beat her in the Republican Primary.
That man is Paul LePage.
But he needs to become Governor first.
After 4 years in charge in Augusta, he could challenge Collins from that seat.
The Primary, with 7 candidates, is 10 days away, on June 8, and Paul LePage could use your campaign contributions and if you’re in Maine, your vote.
https://lepage2010.com/donate.php
http://lepage2010.com
2 good LePage threads here:
http://www.freerepublic.com/focus/f-news/2523541/posts
http://www.freerepublic.com/focus/f-news/2522065/posts
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