Finance Reform: Congress. We Got a Deal!

#2
#2
"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."
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sounds like a solid piece of legislation. I'm sure we're all ready for it to get started so we can figure out how the hell it's going to work
 
#3
#3
utvolpj said:
sounds like a solid piece of legislation. I'm sure we're all ready for it to get started so we can figure out how the hell it's going to work
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I'm seeing a great pattern here...since this Congress pretty much said the same thing about the Health Bill ("We need to pass this bill so we can find out what's in it.")

:crazy:
 
#4
#4
I'm sick and tired of these damn Democrats saying it "has to be enacted before people know what's in it."

Here's an idea for them, let's put together an impeachment of Obama and throw out Biden and Pelosi too but they can't read it until it takes effect. Deal?
 
#5
#5
Dodd's comments certainly don't spark great faith in this bill do they?

Is it just me or has our government seem to have been passing into law a lot which even they are unsure of over the last 15+ years?
 
#6
#6
2,000 pages. expect a lot of ridiculous crap to come out in the next couple of weeks.
 
#7
#7
How can you not have faith when he throws out stuff like this?

"This is about as important as it gets, because it deals with every single aspect of our lives," said Sen. Christopher Dodd (D., Conn.), a chief architect of the compromise.
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and I'm very certain that these 2 guys would never push something that might harm our economy. It's not like they have a history of that or anything

capt.120448e16df1430e81d4bd78421faaf9-120448e16df1430e81d4bd78421faaf9-0.jpg
 
#8
#8
utvolpj said:
How can you not have faith when he throws out stuff like this?



and I'm very certain that these 2 guys would never push something that might harm our economy. It's not like they have a history of that or anything

capt.120448e16df1430e81d4bd78421faaf9-120448e16df1430e81d4bd78421faaf9-0.jpg
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You could not find two people more responsible for the collapse in the economy.
 
#9
#9
Since Dodd and Frank architected this gem, it gives me a warm and fuzzy feeling. Oh wait that's me peeing my pants.
 
#12
#12
"The House passed the bill on a vote of 408-8 Thursday evening. The Senate, with a vote of 99-0 earlier Thursday, also cleared the legislation.

Seems to be an actual bipartisan piece of legislation. Say what you will. Just the rarity of the vote makes me beleive every body got what they could live with.
 
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#17
#17
this is going to kill economical growth and it will give the government even more power.

America is finished as a nation. it's sad
 
#18
#18
orangeblooded2 said:
"The House passed the bill on a vote of 408-8 Thursday evening. The Senate, with a vote of 99-0 earlier Thursday, also cleared the legislation.

Seems to be an actual bipartisan piece of legislation. Say what you will. Just the rarity of the vote makes me beleive every body got what they could live with.
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ummm you have your bills mixed up there chief. The numbers you quote were for the Iran sanctions bill

real numbers on the financial bill
On the House side, the final tally was 20 to 11 to approve the conference committee's report. On the Senate side, it was 7 to 5. The votes fell along party lines, earning no support from Republicans on the two panels.
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Obama, speaking to reporters before leaving for a meeting of global finance ministers and central bankers in Toronto, said the compromise legislation includes "90 percent of what I proposed when I took up this fight."
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scary
 
#20
#20
From what I heard on the radio this morning, His Majesty The Big O wants to sign it into law on Independence Day. :crazy:

I think he's trying to stick it to us... :ermm:
 
#21
#21
J-P said:
From what I heard on the radio this morning, His Majesty The Big O wants to sign it into law on Independence Day. :crazy:

I think he's trying to stick it to us... :ermm:
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makes it easier to figure out the lifespan when the days are the same
 
#22
#22
i'd love to see how the sec thinks they will be able to figure out which trades are propriatary trades and which ones are market making. these are the same people who couldn't figure out maldolf was a fraud despite not a single month of a down return and his strategy needing 2X the open interest of any options exchange.
 
#24
#24
VolsNSkinsFan said:
there are loopholes, and the smartest people will find them and will profit from it. ie Goldman Sachs
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That's the funny thing. They don't have to find them. Large companies hire lobbyists to ensure regulations are structured in a way that makes business more burdensome and expensive for competitors, thus giving the lobbying company more competitive advantage. These companies already know many of the "loopholes" because they were instrumental in getting them in there.
 
#25
#25
paul1454 said:
That's the funny thing. They don't have to find them. Large companies hire lobbyists to ensure regulations are structured in a way that makes business more burdensome and expensive for competitors, thus giving the lobbying company more competitive advantage. These companies already know many of the "loopholes" because they were instrumental in getting them in there.
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interesting conspiracy theory. congress just doesnt' understand the business.
 
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