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.

[DoughtyOne]

If this leftist government did something to fix something, you can bet your ass they’ll be fixing this something with twenty-five somethings next year.

Bureaucrats, the Politburo in motion...

[John 3_19-21]

The wife and I went looking for a new car today. We visted 7 different dealerships. I refused to stop at, or even look at any Gm or Chrysler models. Probably going to go with an Outback.

[Man50D]

We are doomed.

You're only doomed if you let them violate the Constitution. Instead of giving up people need to respond more aggressively against socialism. Contact your Senators and make them feel the heat!

[St. Louis Conservative]

Another House-passed, DOA in the Senate bill.

This is a recurring theme.

[stephenjohnbanker]

Obama now has control of the whole economy. Impeach him........just move him out of the White House.

[Man50D]

We are numbed to it now.

We are? You better tell that to the millions of people who have attended the tea party rallies!

Our liberty is going away before our eyes.

Only if you don't fight back! The tea party rallies prove we are the majority!

[henkster]

When activist judges decided they knew better than everyone else, the Constitution died. Now they run amok. It took Congress and the Executive a little longer, but now they have no constraints, either. That’s because the media, which once acted as watchdogs in the public interest, have now become their ardent supporters and cheerleaders. As of right now, there are no real checks on the power of the Federal Government in our country. And worse, all branches of government do not recognize any checks on powers between each other.

It’s chaos. No, better; it’s a gang-rape of the American people, with Congress, the Executive and the Courts each taking turns.

[DJ Frisat]

Hmmmm... wonder if the following companies might be considered “risky”...

Fox News
Clear Channel Communications
Salem Radio Network

[Republic]

Shame on all of them. SHAME! DISGUSTING! The foxes are guarding the hen house. As if those who sit in our congress are to be trusted....oh please.......this an absolute horror show of fascism on the MARCH!

[Drill Thrawl]

"Contact your Senators and make them feel the heat!"

As has been proven with TARP, the stimulus, health care and other major legislation, the opinion of the people matter not a wit.

[willieroe]

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

Don't know what you mean by "numbed"... hey, there's a new Tiger Woods thread! What were you saying?

[sam_paine]

As of right now, there are no real checks on the power of the Federal Government in our country. And worse, all branches of government do not recognize any checks on powers between each other.

True. But that's the good news.

[Man50D]

As has been proven with TARP, the stimulus, health care and other major legislation, the opinion of the people matter not a wit.

TARP was passed before the conservative movement was in high gear. Health care would have passed before the August recess if people hadn't applied the pressure. Assuming your statement is correct for arguments sake, What is your alternative? Are you going to rollover and let socialists destroy you life or are you going to fight back with as much tenacity as they have used to achieve power?

What have you to lose considering you will definitely lose it all by doing nothing? Keep in mind socialists are the minority and have achieved power because they never gave up and viewed any setback as temporary. We need to steal a page out of the socialist playbook by employing the same tactic with our majority.

[meadsjn]

It also would create a consumer agency to police lenders.

This must be what Michele Bachmann was warning about -- it gives ACORN oversight over financial institutions.

[Kimberly GG]

...”and reconfigure the power of the agencies overseeing the nation’s banking system.”

and didn’t I read something about this....wouldn’t these “agencies” include ACORN????

[Boucheau]

Are spineless Americans still afraid to call them communists?

Just another election cycle, right?

All your troubles will be over when you get your team of do-nothing, spineless blowhards into power, right?

“We’ll get ‘em in 2010!”

Bunk!

I guess it isn’t that hard to fell the greatest nation on earth after all.

I guess all the crap I heard about Americans being fighters and rugged individualists was just phony, make-believe, nonsense.

Just go to work, go home and pretend it’s the fault of someone else.

Tyrants have always existed. Americans allowing themselves to be enslaved is the real evil here.

[WOBBLY BOB]

http://www.heritage.org/research/russiaandeurasia/bg879.cfm

February 6, 1992

Despite the defeat of the August 19 August 21 Communist coup in Moscow most of the officials on the local level are former Communist bureaucrats, who are hostile to free market reforms and have excellent connections with bureaucrats of similar background on the national level. They are there because it is impossible to change the entire staff of local and central bureaucracies in the few months that have passed since August.

Local government officials are opposed to free market reforms because they threaten their control over the local economy. Once real privatization occurs, no one would need bureaucrats to manage the economy, and local government power over the population would be much more limited, as it is in the West.

...or like the West used to be.

[maine-iac7]

http://hotair.com/archives/2009/12/11/bachmann-stop-barney-franks-power-grab/

Michelle Bachman was warning on this yesterday.

this is a must listen.

You will not believe what's in this bill - brought up and being shoved through without notice or discussion.

we must - RIGHT NOW _ THIS HOUR, before the Senate offices close for the weekend - CALL you senator and demand they vote this down!

This socialists are grabbing power so fast, it's hard to keep up. You can bet your bippi they've had all these bills written and ready for a very long time.

By the time election 2010comes - there won't BE any election

[mojitojoe]

[Jeff Head]

AWAKEN O AMERICA, YOUR LIBERTY IS CALLING