You meant that "Office of Women and Minority Inclusion" clause in there didn't buy off enough of their already corrupt voters?
Posted on 07/19/2010 3:08:45 AM PDT by Scanian
President Barack Obama may struggle to reap political rewards from his big win on Wall Street reform -- at least in the near term.
Passage of the most sweeping overhaul of the financial regulatory system since the Great Depression of the 1930s comes as Obama is trying to bolster his sinking poll numbers and avert an election catastrophe for his Democrats.
The financial bill could prove more helpful to Obama when he seeks re-election in 2012 than for Democratic lawmakers trying to keep their seats this November.
Wall Street reform marks the latest in a series of major legislative achievements for the president, who campaigned on a promise of change.
Americans are focused on high unemployment and ballooning budget deficits, and some worry Obama is overreaching with his agenda. That has prevented Obama from gaining a lot of traction from two other signature initiatives: health care reform and the $862 billion stimulus package.
(Excerpt) Read more at nypost.com ...
Reuters. Critical thinkers need not apply...
I wonder if there is anyone who really think this financial “reform” bill is going to do anything but make a bad situation worse.
Sounds like the Public is as Much in the Dark on this Bill as The Stinking Politicians Who voted for it . Dont worry we will all love it once we find out what is in it.
I know what isnt in it FANNIE AND FREDDIE,so much for Overhaul,More like Overhype and more BS
I don’t see any focus on this anywhere. This is one of the least covered major stories, positive or negative, for a long time.
Save em?
After the healthcare debacle and the “financial reform” b.s.
they should all be hung not saved
Later
You are correct. Fannie & Freddie had more to do with our financial mess than Any other single thing.
The crooks that caused it should be in jail. Some of them got to write the NEW law. Some of them got BIG bonuses and jobs thanks to BO.
Wall Street reform marks the latest in a series of major legislative achievements...
I believe the writer meant to say “disasters”.
BO is he right name for him, He stinks.
The jobs governments create are ONLY sustained directly or indirectly by subsidies, grants, entitlements, contracts, loans, loan guarantees, or direct payment.
The important thing to note is that when the funding stops, the jobs dies.
A government created job is like a patient on full-life support. The job may have a pulse (and a person working at that job may be able to act as though he/she has a livelihood), but such a job costs significantly more than than it can return to the economy.
Government created jobs are net users of capital and net losses for an economy.
When they government funding is withdrawn or cut off...the job dies immediately. And while the job is alive, it is a drag on an economy.
You meant that "Office of Women and Minority Inclusion" clause in there didn't buy off enough of their already corrupt voters?
Amen. These are traitors.
Your right and one of them Is my Senator DODD,that Puke.
The Ignorance on this issue is MASSIVE,and I credit the Republicans more than the Democrats,especially Sarah Palin who joined the Chorus of its the Greed of Wall streets fault. THIS IS ALL GOVERNMENT CREATED,Wall St. May be greedy that you can argue but we all know they just want to make money and what they did creating all these default swaps was as I see it Protection from what was being forced upon them by Lying Communist Democrats going Back To Carter with the Community Reinvestment act,Until Franklin Raines and Jamie Gorelic,Chris Dodd ,Barney Frank are in Jail this will never be Closed
1) Require real liquidity backing for hedge funds, credit default swaps, derivatives, and other new "exotic" investments or ban them outright as financially too risky.
2) Increase the minimum margin requirements for futures and index trades from 5% to 15%, with 25% for crude oil, certain petroleum products (natural gas, diesel fuel and unleaded gasoline), certain industrial metals (aluminum, copper, iron, nickel, and titanium), certain foodstuffs (cacao beans, coffee, corn, oats, rice, soybeans, sugar-producing plants, tea and wheat) and precious metals (gold, silver, platinum and palladium).
3) Revise the Sarbanes-Oaxley Act to better encourage initial public offerings (IPO's) of stock in the USA.
4) Re-impose the 1993 Glass-Steagall Act to "firewall" bank assets against the ups and downs of the equities market.
Yes, these measures are harsh, but then what happened in 1929 and 2008 should be lessons that an out-of-control financial system can cause enormous harm to the US economy.
You got it!
The Act is another step in the direction of more government and union domination of all that we do. Nothing in the Act controls Fannie Mae and Freddie Mac--they remain a multibillion dollar drain on the US Treasury--or the financial disasters their corruption and poor management have created.
This bill was used to get unions more control of companies, and to get minorities and women more jobs where they can never be fired. Publicly traded companies will need to allow the unions to seat their members on the boards of said corporations. Also an enlarged staff at SEC, CFTC and the Fed stuffed with faithful and deserving Democrats selected by Chicago style patronage. I can't wait for the minions of Sheila Jackson Lee to be seated on the Board of _______ [you fill in the blank]. God help us.
These liberals are going to friggin' sing and dance along, all the way, as they dance off a cliff.
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