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House, Senate leaders finalize details of sweeping financial overhaul

Renae

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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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Dodd and Frank are ****ing crooks. Mr AIG and Mr Lollipop, heading up the committees in charge of this, what a crock!
 

Renae

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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??
 

justabubba

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Deuce

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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.
 

Renae

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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"

:blink:
 

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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!
 

Renae

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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?
 

Deuce

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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!"
 

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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.
 

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This is another government take over that protects its own like Freddy and Fanny.

This legislation is a failure on both counts," Sen. Judd Gregg (R-N.H.) said in a statement that denounced the compromise as failing to address "shoddy underwriting practices" or problems with the government-sponsored entities Fannie Mae and Freddie Mac. "It will not encourage much-needed stability and confidence in our financial markets. It will not significantly reduce systemic risk in our financial sector."
 

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Did you read the BOLDED PART?



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"

:blink:
It doesn't scare him because his ilk is in charge.
 

Deuce

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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"


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.
I'm only contending your implication that these guys are trying to make the bill stealthy or something. The bill itself strikes me as a fancy bandaid slapped on a gunshot wound.
 

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I'm only contending your implication that these guys are trying to make the bill stealthy or something. The bill itself strikes me as a fancy bandaid slapped on a gunshot wound.
That's because you think Gov't can FIX the problem.
 

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That's because you think Gov't can FIX the problem.
....

Either you didn't read my post very carefully or you have a severe overestimation of the medical capabilities of a bandaid.
 

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....

Either you didn't read my post very carefully or you have a severe overestimation of the medical capabilities of a bandaid.
Why is freddy and fanny not dealt with. This is a government take over protecting their own
 

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Why is freddy and fanny not dealt with. This is a government take over protecting their own
That has absolutely nothing to do with what I posted. Why are you quoting me?
 

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That has absolutely nothing to do with what I posted. Why are you quoting me?
Yes it does you say the bill helps yet it does nothing about Fanny and Freddy. it is another democrat government take over that protects their own.
 

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Surely, no one is going to argue that financial reform wasn't needed, are they?

Well, maybe. I've seen arguments that 2 + 2 is not equal to 4, or that the sky is not blue, after all.

So, are there arguments for or against this particular bill that don't hinge on "Democrats (Republicans) are all a bunch of idiots"?

You know, arguments about what is actually being proposed?
 

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Dodd and Frank are ****ing crooks. Mr AIG and Mr Lollipop, heading up the committees in charge of this, what a crock!
Well these asshats still have to return home and live amongst the masses, time for some civil disobedience.
 

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Surely, no one is going to argue that financial reform wasn't needed, are they?

Well, maybe. I've seen arguments that 2 + 2 is not equal to 4, or that the sky is not blue, after all.

So, are there arguments for or against this particular bill that don't hinge on "Democrats (Republicans) are all a bunch of idiots"?

You know, arguments about what is actually being proposed?
Can you tell me exactly what problems existed and how this bill fixed them?
 

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Well these asshats still have to return home and live amongst the masses, time for some civil disobedience.
^ now, there's a solution [/sarcasm]

it's amazing that those who defended dubya seem not to now be able to recognize the meltdown occurred on his watch
the new president is trying to clean up the inherited mess and install some semblance of regulation where there was none
after dicknbush's treasury transferred taxpayer dollars of the wage earner to cover the losses of the wealthy
an amazingly ignorant bunch with the collective memory of an alzheimers patient
 

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^ now, there's a solution [/sarcasm]

it's amazing that those who defended dubya seem not to now be able to recognize the meltdown occurred on his watch
the new president is trying to clean up the inherited mess and install some semblance of regulation where there was none
after dicknbush's treasury transferred taxpayer dollars of the wage earner to cover the losses of the wealthy
an amazingly ignorant bunch with the collective memory of an alzheimers patient
You mean it happened after the dems took back the majority in congress
 

justabubba

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You mean it happened after the dems took back the majority in congress
yep ... after the deregulation was in effect
who appointed the treasury secretary who was proposing to hand out over a $trillion of taxpayer money based on a one page "dissertation" of the intended process
 
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