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Thread: Major makeover of Wall Street regs passes House

  1. #1
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    Major makeover of Wall Street regs passes House

    Major makeover of Wall Street regs passes House - Yahoo! News

    AP 2 hours ago

    The House passed the most ambitious restructuring of federal financial regulations since the New Deal on Friday, aiming to head off any replay of last year's Wall Street failures that plunged the nation deep into recession.

    The sprawling legislation would give the government new powers to break up companies that threaten the economy, create a new agency to oversee consumer banking transactions and shine a light into shadow financial markets that have escaped the oversight of regulators.

    The vote was a party-line 223-202. No Republicans voted for the bill; 27 Democrats voted against it.
    Not sure what to make of this. I think reforms need to be made in this area, but I don't know enough on the topic to know if these are the right reforms.
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    Re: Major makeover of Wall Street regs passes House

    Just what we need, bigger and more intrusive government

    They are clearly doing all they can now because they know their majority will be diminished after 2010.

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    Re: Major makeover of Wall Street regs passes House

    Quote Originally Posted by Redress View Post
    Major makeover of Wall Street regs passes House - Yahoo! News



    Not sure what to make of this. I think reforms need to be made in this area, but I don't know enough on the topic to know if these are the right reforms.
    I think the only reform they should is a "nobody is too big to fail".

    If a huge business going under is really that much of a threat to the US economy then maybe they should consider placing limits on the size a company can grow, treat it like a monopoly.
    "A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"

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    Re: Major makeover of Wall Street regs passes House

    More inept socialist/Marxist crazies taking steps to take over control of more of the economy and don't these absolute idiots have a wonderful record.

    They have run Social Security to near total failure.

    They have run Medicare deep into the red.

    They screwed the pooch big time with with Cash for Clunkers ans sprnt ovr $24,000 per car to pay upto $4,500 per trage in on perfectly good cars.

    Yes Congress has a track record alright. It's a record of being completely out of their element if the issue isn't bribes, and kick backs, waste fraud, abuse and pork barrel spending.

    Heres a man with a plan; [ame="http://www.youtube.com/watch?v=VP2p91dvm6M"]YouTube- Congressional Candidate Lieutenant Colonel Allen West[/ame]

    Lets al join hands a sing Kumbaya as the economic ship Titanic goes down for the count and dumb asses from both sides of the political isle celebrate their collective ineptness along with the Amateur in Chief Obama and his inner circle of radicals, jail birds, Socialist/Communist know nothings continue to pretend to be good at something when the truth is none of them has a clue of how to effect positive change. They all know how to lie and make empty promises to a stupid public the buys the BULL SHIITE they dish out every damn day.
    Last edited by Councilman; 12-12-09 at 02:28 AM.

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    Re: Major makeover of Wall Street regs passes House

    Quote Originally Posted by Councilman
    More inept socialist/Marxist crazies taking steps to take over control of more of the economy and don't these absolute idiots have a wonderful record.
    What does this have to do with Marxism?
    "I do not claim that every incident in the history of empire can be explained in directly economic terms. Economic interests are filtered through a political process, policies are implemented by a complex state apparatus, and the whole system generates its own momentum."

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    Re: Major makeover of Wall Street regs passes House

    Quote Originally Posted by Dav View Post
    Just what we need, bigger and more intrusive government

    They are clearly doing all they can now because they know their majority will be diminished after 2010.
    Do you think there should be any reforms of our financial system, seeing the failures that culminated last year?
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    Re: Major makeover of Wall Street regs passes House

    Quote Originally Posted by the makeout hobo View Post
    Do you think there should be any reforms of our financial system, seeing the failures that culminated last year?
    I suspect that the recession wouldn't have become such a crisis if we had just let bad companies die and not had the government come in to "save" the day.

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    Re: Major makeover of Wall Street regs passes House

    Quote Originally Posted by Dav View Post
    I suspect that the recession wouldn't have become such a crisis if we had just let bad companies die and not had the government come in to "save" the day.
    But there was still shady and unsustainable things going on, regardless. I mean, look at the mess in the housing market.
    The Makeout Hobo is real, and does indeed travel around the country in his van and make out with ladies... If you meet the Makeout Hobo, it is customary to greet him with a shot of whiskey and a high five (if you are a dude) or passionate makeouts (if you are a lady).

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    Re: Major makeover of Wall Street regs passes House

    Quote Originally Posted by Khayembii Communique View Post
    What does this have to do with Marxism?
    Surely you jest. You must be educated enough know that the basic break down of a society into Socialism/Maxism requires economic strife and the goals of the two are almost identical with the main difference being how they are arrived at.

    Socialism comes through lying to convince empty headed fools to vote for it.
    Marxist power comes from the barrel of a gun according to Mao.


    [ame="http://www.youtube.com/watch?v=xSllsTLkBsw"]YouTube- Obamas Right hand Man Andy Stern of SEIU[/ame]

    [ame="http://www.youtube.com/watch?v=M_ly473pZ6I"]YouTube- ┈━Crash Politics━┈ Obama Czar Agrees With Mao, Too, and Thinks Free Market is Nonsense[/ame]

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    Re: Major makeover of Wall Street regs passes House

    Quote Originally Posted by Dav
    I suspect that the recession wouldn't have become such a crisis if we had just let bad companies die and not had the government come in to "save" the day.
    Except the government didn't step in until some of the country's largest banking institutions went bankrupt and the economy was going down the tube.

    Do you really think letting the nation's largest financial institutions go bankrupt would have been better for the economy?

    Quote Originally Posted by Councilman
    Surely you jest. You must be educated enough know that the basic break down of a society into Socialism/Maxism requires economic strife and the goals of the two are almost identical with the main difference being how they are arrived at.
    I'm educated enough to know that you don't know what Marxism/socialism are.
    Last edited by Khayembii Communique; 12-12-09 at 02:46 AM.
    "I do not claim that every incident in the history of empire can be explained in directly economic terms. Economic interests are filtered through a political process, policies are implemented by a complex state apparatus, and the whole system generates its own momentum."

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