Free Republic

The financial-reform bill will do its part to save the economy—by creating jobs for accountants and lawyers. President Obama and leading Democrats are calling the "Restoring American Financial Stability Act of 2010" the greatest overhaul of Wall Street since the Great Depression. And that may well be true. But judging from the many loopholes in the legislation—with more to come as the banks maneuver stealthily to tweak the final product in conference—the new bill might be better termed "the Accountants' and Lawyers' Welfare Act of 2010." The bottom line is that despite the blizzard of amendments and provisions added—including some...

Obama refers to top executives at 'fat-cat bankers' on CBS program WASHINGTON (MarketWatch) -- President Barack Obama is sitting down Monday with the top executives of the nation's largest banks at the White House, with echoes of "fat cats" ringing in everyone's ears.On the eve of the meeting, Obama slammed bankers on network television, calling them "fat-cat bankers" on CBS's "60 Minutes" program. "I did not run for office to be helping out a bunch of fat-cat bankers on Wall Street," Obama said in an interview on the television show. "They're still puzzled why it is that people are mad...