Thread: House passes landmark financial reform bill

Its only passed the house so far, still needs to get through the senate before its actually in place. And if its anything like the health care reform bill its just gonna sit there for a long ass time before it gets enough backing to be passed.

Does this replace existing regulation system or is this a retro-fit layer of regulation designed to put band-aids and patches in loopholes that allow exploitation? IMHO, one has a much higher rate of success than the other.

I think replacing the old system of regulation with an improved, simplified and easier to navigate system is better than an additional layer of beurocracy, a couple new government agencies and new laws bolted onto old laws that didnt work.

Repeal what was being exploited and put forth a better alternative - and regulate without reducing profit. That was tauted as a major benefit to these new regulations in one write-up I saw...it "limits or reduces profits"...that's a positive, in and of itself? Meh...

I'm not a tinfoil hat "Obama's trying to take over the world" kind of guy, but taking profit from private industry needs to be done exceedingly carefully and with the utmost restraint.

But I think you all know that based on my history here I am more concerned with supply-side economics and smaller government regulating industry judiciously.

Has anybody proven that the old regulations didn't work, or were they just broken by bad people?

Lots of laws exist and are ignored by crooks daily...do we need to perform comprehensive criminal justice reform and re-write all the criminal statutes across the country.....or do we need to enforce the laws we have more effectively and augment penalties for BREAKING the laws we have to the point where the penalties become the deterrent?

Originally Posted by DuDDy

Its only passed the house so far, still needs to get through the senate before its actually in place. And if its anything like the health care reform bill its just gonna sit there for a long ass time before it gets enough backing to be passed.

What was that again?
http://www.foxnews.com/politics/2010...king-overhaul/

The Senate's 60-39 vote came nearly two years after a [COLOR=blue ! important][COLOR=blue ! important]financial[/COLOR][/COLOR] crisis knocked the economy to its knees. At a whopping 2,300 pages, the legislation is designed to rein in big banks and protect consumers in hopes of averting a repeat of the 2008 financial crisis.

Obama seems to be getting a lot done. I am sure immigration is up next.

LOL those repubs are going apeshit will all the change to their failed yet glorified policies.

Yeah, he was doing so much to reel in big banks when he gave them billions in TARP funds, and forced some big banks to take other failed big banks into their portfolio. What a hero.