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Thread: Congress passes financial reform bill

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    Congress passes financial reform bill

    Excerpted “Congress passes financial reform bill” By Brady Dennis, Washington Post Staff Writer, The Washington Post, Friday, July 16, 2010
    Congress gave final approval Thursday to the most ambitious overhaul of financial regulation in generations, ending more than a year of wrangling over the shape of the new rules and shifting the government's focus to the monumental task of implementing them. …
    Another major achievement along side Health Care Reform, Economic Stimulus and much more. This is the Can Do Congress!
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    Re: Congress passes financial reform bill

    More Gov't is not the answer. America falls further away from prosperity with each "Success" of the Gov't Power Grab.

    On a side note, this is also more proof Scott Brown would be the worst candidate the GOP could ever pick for President. (just sayin)
    Last edited by Renae; 07-16-10 at 03:35 AM.
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    Re: Congress passes financial reform bill

    Quote Originally Posted by MrVicchio View Post
    More Gov't is not the answer. America falls further away from prosperity with each "Success" of the Gov't Power Grab.
    Lack of Regulation proved to be the cause of oil spills and financial meltdowns...

    The problem is, your dogmatism against government in all cases is slightly misguided.

    Good government is good government. Bad Government is Bad Government.

    Good regulation is good regulation. Bad regulation is bad regulation.

    No regulation at all... is a ****ing disaster. People and companies simply cannot be trusted.

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    Re: Congress passes financial reform bill

    Quote Originally Posted by Jetboogieman View Post
    Lack of Regulation proved to be the cause of oil spills and financial meltdowns...

    The problem is, your dogmatism against government in all cases is slightly misguided.

    Good government is good government. Bad Government is Bad Government.

    Good regulation is good regulation. Bad regulation is bad regulation.

    No regulation at all... is a ****ing disaster. People and companies simply cannot be trusted.
    I like you man, so I'll be nice.

    Many of the independent sources that I have been reading, point out this bill as a dog.
    Why?
    Because a lot of the regulation is going towards things that didn't bring the economy down.

    Just sayin.
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    Re: Congress passes financial reform bill

    Quote Originally Posted by Harry Guerrilla View Post
    I like you man, so I'll be nice.

    Many of the independent sources that I have been reading, point out this bill as a dog.
    Why?
    Because a lot of the regulation is going towards things that didn't bring the economy down.

    Just sayin.
    I never endorsed the bill at all in my posts.

    I am merely pointing out the dogmatism that government regulation is ALWAYS bad. And some misguided pretension that the free market or companies are infallible and can regulate themselves. This bill might be an example of what I Said about bad regulation is bad regulation.

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    Re: Congress passes financial reform bill

    Quote Originally Posted by Jetboogieman View Post
    I never endorsed the bill at all in my posts.

    I am merely pointing out the dogmatism that government regulation is ALWAYS bad. And some misguided pretension that the free market or companies are infallible and can regulate themselves. This bill might be an example of what I Said about bad regulation is bad regulation.
    I'm all fine with fraud prevention and things of that nature.

    They are doing stupid things in this bill like regulating payday loan companies, which had nothing to do with the financial meltdown.
    My state already limits the interest they can charge as it is.

    I think one of the big investment banks got a sweet deal in it somewhere.
    Lost the original story I had about it.
    The damn bill is another 2000 page whopper.
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    Re: Congress passes financial reform bill

    Quote Originally Posted by Harry Guerrilla View Post
    The damn bill is another 2000 page whopper.
    What is it with that anyway? Is it alternating between pages of laws and then pages of Lord of the Rings?

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    Re: Congress passes financial reform bill

    Quote Originally Posted by Jetboogieman View Post
    What is it with that anyway? Is it alternating between pages of laws and then pages of Lord of the Rings?
    All the amendments added.
    The original bill is written, then other congress critters throw in their pet projects and spending wants in it.

    It's an awful way to legislate.
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    Re: Congress passes financial reform bill

    Quote Originally Posted by Harry Guerrilla View Post
    All the amendments added.
    The original bill is written, then other congress critters throw in their pet projects and spending wants in it.

    It's an awful way to legislate.
    And of course niether party is going to change that. You guys have got to reform your entire system of government, you need to implement massive political reform to fix all your other problems, but since the political parties have the stranglehold on power, they wouldn't dare change laws that would cost them seats to some random party if you instituted proportional representation.

    It must it awful for you guys, you have a choice between one jackass and another jackass. No other viable options.

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    Re: Congress passes financial reform bill

    Quote Originally Posted by Jetboogieman View Post
    And of course niether party is going to change that. You guys have got to reform your entire system of government, you need to implement massive political reform to fix all your other problems, but since the political parties have the stranglehold on power, they wouldn't dare change laws that would cost them seats to some random party if you instituted proportional representation.

    It must it awful for you guys, you have a choice between one jackass and another jackass. No other viable options.
    Totally agree my friend.
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