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Thread: House, Senate leaders finalize details of sweeping financial overhaul

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    House, Senate leaders finalize details of sweeping financial overhaul

    Key House and Senate lawmakers agreed on far-reaching new financial rules early Friday after weeks of division, delay and frantic last-minute deal making. The dawn compromise set up a potential vote in both houses of Congress next week that could send the landmark legislation to President Obama by July 4.

    Lawmakers pulled an all-nighter, wrapping up their work at 5:39 a.m. -- more than 20 messy, mind-numbing, exhaustive hours after they began Thursday morning.

    "It's a great moment. I'm proud to have been here," said a teary-eyed Sen. Christopher J. Dodd (D-Conn.), who as chairman of the Senate Banking Committee led the effort in the Senate. "No one will know until this is actually in place how it works. But we believe we've done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done."
    House, Senate leaders finalize details of sweeping financial overhaul

    How the hell do peeps support the dems when they do crap like this???
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    Re: House, Senate leaders finalize details of sweeping financial overhaul

    Dodd and Frank are ****ing crooks. Mr AIG and Mr Lollipop, heading up the committees in charge of this, what a crock!
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    Re: House, Senate leaders finalize details of sweeping financial overhaul

    I think it's time for a Revolution yeah you know you want to change the world.

    Cause just how many more "You'll just have to trust us and find out later...." massive gov't bills can the country handle??
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: House, Senate leaders finalize details of sweeping financial overhaul

    Quote Originally Posted by MrVicchio View Post
    House, Senate leaders finalize details of sweeping financial overhaul

    How the hell do peeps support the dems when they do crap like this???
    what's not to support?
    regulation is needed
    regulations look to be re-imposed
    probably not to the degree required but something is better than nothing

    the better question may be why you would defend a republican party which wants the financial sector to remain deregulated
    we are negotiating about dividing a pizza and in the meantime israel is eating it
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    Re: House, Senate leaders finalize details of sweeping financial overhaul

    If I had to guess, he meant to say "how well it works."

    I mean, the bill itself becomes public information before it gets voted on.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: House, Senate leaders finalize details of sweeping financial overhaul

    Quote Originally Posted by justabubba View Post
    what's not to support?
    regulation is needed
    regulations look to be re-imposed
    probably not to the degree required but something is better than nothing

    the better question may be why you would defend a republican party which wants the financial sector to remain deregulated
    Did you read the BOLDED PART?

    "No one will know until this is actually in place how it works.
    Does this not scare you? Or you just trust the same folks that caused the economy to collapse to "fix it". Regulations that do what? You don't know, yet you're gonna trust these people to just "do something"

    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: House, Senate leaders finalize details of sweeping financial overhaul

    Oh joy another government agency under the fascist Federal Reserve that will be corrupted and only serve the interests of the oligarchs. Oh happy day!
    Jackboots always come in matched pairs, a left boot and a right boot.

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    Re: House, Senate leaders finalize details of sweeping financial overhaul

    Quote Originally Posted by Deuce View Post
    If I had to guess, he meant to say "how well it works."

    I mean, the bill itself becomes public information before it gets voted on.

    Yeah, like the "Healthcare bill?" Seriously, how much do you get paid to push and spin Dem bs?
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: House, Senate leaders finalize details of sweeping financial overhaul

    Quote Originally Posted by MrVicchio View Post
    Yeah, like the "Healthcare bill?" Seriously, how much do you get paid to push and spin Dem bs?
    I think my idea is a lot more likely than "Muahahah, the American people will never know what hit them!"
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: House, Senate leaders finalize details of sweeping financial overhaul

    Quote Originally Posted by Deuce View Post
    I think my idea is a lot more likely than "Muahahah, the American people will never know what hit them!"

    And where did I say anything like that? Oh, I didn't.

    The problem is, the same people who created this mess, the Gov't, are going to fix it with legislation that no one knows how it will work... till it's in place?

    Would you trust your doctor if he said "Hey, ya know, that bypass I did on ya? Yeah it appears to have caused some new problems, so I'm gonna try some new stuff, but don't worry we'll find out if it works after we're done. Oh no, we have no idea if it will be the right thing, just trust me"

    From the beginning, lawmakers opted against a dramatic reshaping of the country's financial architecture. Instead, they moved to create new layers of regulation to prevent companies from taking on too much risk.

    For example, regulators decided not to order a sweeping consolidation of the regulatory agencies policing finance. They also decided not to bust up large financial companies, despite pressure from liberal groups.

    But they did create a process for seizing and dismantling faltering companies, tools the government lacked in 2008 during the seemingly chaotic events surrounding Bear Stearns, Lehman Brothers, and American International Group Inc.

    Democrats are banking on stronger government regulators to constrain risk in the financial system and prevent a future banking crisis—or at least blunt its impact.
    U.S. Lawmakers Reach Accord on New Finance Rules - WSJ.com

    Here is a little more info, they believe they can restrict the dangers of a free market by restricting "risk".

    Yeah, this doesn't work. Never ever has, never ever will... work. All you do is retard growth, and shift the risk taking elsewhere. You cannot control a free market with regulation like they are trying to do.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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