Posted on 06/25/2010 11:29:39 AM PDT by Southnsoul
House, Senate leaders finalize details of sweeping financial overhaul
By Brady Dennis Washington Post Staff Writer Friday, June 25, 2010; 12:26 PM
Key House and Senate lawmakers approved far-reaching new financial rules early Friday after weeks of division, delay and frantic last-minute dealmaking. The dawn compromise set up a potential vote in both houses of Congress next week that could send the landmark legislation to President Obama by July 4.
The final and most arduous compromise began to fall into place just after midnight. Sen. Blanche Lincoln (D-Ark.) agreed to scale back a controversial provision that would have forced the nation's biggest banks to spin off their lucrative derivatives-dealing businesses.
The panel also reached accord on the "Volcker rule," named after former Federal Reserve chairman Paul Volcker. That measure would bar banks from trading with their own money, a practice known as proprietary trading.
Lawmakers pulled an all-nighter, wrapping up their work at 5:39 a.m. -- more than 20 messy, mind-numbing hours after they began Thursday morning.
"It's a great moment. I'm proud to have been here," said a teary-eyed Sen. 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."
(Excerpt) Read more at washingtonpost.com ...
It took a crisis to bring us to the point where we could actually get this job done.”
Kiss your ass goodby America.
IMHO...they BOTH work for me!!
>Ugh. Has Dodd been hanging out with Nancy Pelosi? I wonder what kind of offspring a crossing of the two of them would produce - Rosemary’s Baby?
At first I read that as “Romney’s Baby”...
I'm amazed...they're being honest. If there is any good that comes out of this, it will be that some recognize that "The Government is not here to help you," in fact doesn't have a clue about what they regulate.
And another qustion, if know one will know how it works until it’s in place, THEN HOW THE F**K DO YOU KNOW HOW IT WORKS?
The ignorance, the stupidity and the incompetence that is walking the Halls of the U.S. Congress is absolutely breathtaking. And it may cause our death, very shortly.
Think Cray.
Cheers!
Pass it to find out whats in it.
Exempts unions and outlaws conservatism no doubt.
I really am starting to wonder if that’s what it’s going to take.
“Pass it to find out whats in it.”
What’s scary is that we’re STILL finding out surprises embedded in the 2700 page health bill. And some pieces are so complicated, even the experts cannot guarantee everything will work together. More likely, it will be FUBAR from Day 1.
No doubt, these traitors are intent on destroying this country completely...
The leftist rookies are at it again......
>Use 64-bit arithmetic.
>
>Think Cray.
The same problem exists, it is an inherent limitation of floating-point numbers; it is also a [practical] limitation of decimal numbers (such as 1/3).
It is inviting problems to disacknowledge the limitations of the tools you are using and assume them to be adequate for the task at hand; perhaps the one disadvantage of standardizing floating-point architecture [to the IEEE spec] is that scientists have become lax in considering the limits thereof (whereas prior they had to check that the precision of the machine’s floating-point would work).
Along these lines of “floating point precision limitations” is the “real number” for Prolog which [IIRC] is a software implementation and can have [in theory, there are still the finite memory limitations] infinitely long precision. Something like that might be more appropriate for the situation at hand where, instead of floating point numbers, you have a record representing, say, the rational form of a number;
{Example:
Type Numeric is private; — Say something that can represent square-root of 3, or cube-root of 2, i, or pi, etc.
Type Rational is new Record
Numerator, Denominator : Numeric;
end record;
}
These are supposedly the best and the brightest this nation can muster?
Heck, take a gander at Sheila Jackson Lee........what a stupid woman.
It just floors me that her district continues to re-elect her time and again.
This nation is broken with the likes of these people in office.
Blanche again!
I'm not saying that it will necessarily take an armed uprising to stop the current madness, but it will definitely take a LOT more of what we're currently doing to push back against the Obama regime's tyranny, to stop it.
One of the reasons that they're pushing all of this insanity through Congress right now, is that they know their days in power are numbered. It's a race between the clock, the people's anger, and getting all of the foundations of their lock on power in place.
It appears to me that they believe that they can cement their hold on our government and our institutions if they hurry and get it all done before November. That is the method to their madness.
Many of us are hoping that they can't manage to cut us off at the pass, so to speak, and that we will still be able to recover at least one house of Congress in the Fall.
It's a very tense game at play right now. The future direction of the country very much depends on what all of us do to help over the next few months. There's no doubt in my mind that if we intend to save this country, that every one of us needs to stretch as far outside our comfort zones as possible, and do everything we can to help defeat the Commies in November. It really is crunch time, folks.
A.Soros
B.Soros
C.Soros
D.Allof the above.
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