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Thread: Senate passes sweeping Wall Street reform

  1. #11
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    Re: Senate passes sweeping Wall Street reform

    all these exemptions, all these pets...

    kinda makes you wonder who wrote this pig

    K Street cashes in on bill - M.B. Pell - Center for Public Integrity and Joe Eaton - POLITICO.com

    THREE THOUSAND LOBBYISTS!

    but you're right, there's no way all that money (1.3B) getting tossed around could imprint its impact on the piece

    not with a standup dude like dodd in the drivers seat

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by Jetboogieman View Post
    No one reads any bills... no one read the patriot act I will remind you...
    Reading is for suckers.




    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Senate passes sweeping Wall Street reform

    Thank goodness.

    Now let's hope that the House can reconcile the bill so real work can be done! We need this reform badly.
    When the debate is lost, slander becomes the tool of the loser. -Socrates
    Tired of elections being between the lesser of two evils.

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by digsbe View Post
    Thank goodness.

    Now let's hope that the House can reconcile the bill so real work can be done! We need this reform badly.
    And do so in a way that it is effective.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  5. #15
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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by digsbe View Post
    Thank goodness.

    Now let's hope that the House can reconcile the bill so real work can be done! We need this reform badly.
    what exactly needs reform or more importantly what is made better by giving more government control of it?



  6. #16
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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by Boo Radley View Post
    And do so in a way that it is effective.
    I agree. We don't need watered down legislation.

    Quote Originally Posted by TurtleDude View Post
    what exactly needs reform or more importantly what is made better by giving more government control of it?
    Much needs reform from CEO salaries to how loans are given.

    The government isn't going to own the banks, they are just passing regulatory measures to help insure that we don't go through another financial crisis.

    The banks will still be run by CEOs and staff members, they just can't hurt the American people anymore with foolish business and having the rich CEOs as the priority.
    When the debate is lost, slander becomes the tool of the loser. -Socrates
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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by digsbe View Post
    We need this reform badly.
    thousands of lobbyists agree!

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by digsbe View Post
    I agree. We don't need watered down legislation.



    Much needs reform from CEO salaries to how loans are given.

    The government isn't going to own the banks, they are just passing regulatory measures to help insure that we don't go through another financial crisis.

    The banks will still be run by CEOs and staff members, they just can't hurt the American people anymore with foolish business and having the rich CEOs as the priority.
    If the head of Citi makes $1m, $10m, or $50m, how does that affect anyone other than Citi's shareholders?
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

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    Re: Senate passes sweeping Wall Street reform

    Basically all this bill needs to do to not be a total frack up is:

    1) Create a transparent market for derivatives
    2) Penalize excessive risk taking by large institutions
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by obvious Child View Post
    Basically all this bill needs to do to not be a total frack up is:

    1) Create a transparent market for derivatives
    2) Penalize excessive risk taking by large institutions
    "For example, with almost universal recognition that banks lacked sufficient capital going into the financial crisis, it should be a "no-brainer" to fix our flawed regulation of bank capital — in other words, to prevent banks from borrowing 40 times as much as their assets, as Lehman Bros. was doing shortly before its collapse.

    Sorry, no: The Dodd bill simply proposes that its new "council of regulators" may recommend that the Federal Reserve impose more stringent standards. Yes, that's may. The bill doesn't even require regulators to change the current levels or framework for bank capital.

    The bill doesn't even eliminate zero-down mortgages — or any of the irresponsible lending products that plainly contributed to the crisis. Indeed, Dodd twice fought off floor amendments to require modest down payments.
    "

    Dodd's Do-Nothing Financial 'Reform' | Mark A. Calabria | Cato Institute: Commentary

    It seems we will be leaning on regulators to make the necessary choices, lets hope they don't drop the ball like they did with Madoff.

    Also, the bill rolls back some consumer protections under RESPA.
    Last edited by Harry Guerrilla; 05-22-10 at 04:48 AM.
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