GOP gives up blockade against Financial Reform

[Birchtree]

They are bringing the proposed bill to the floor to put light on it - so we can find out what is in it. Not like the health care fiasco.

[nnuut]

Reform is needed, I just hope they don't screw it up! How about naked shorting and puts and calls??:cool:

[James48843]

All I can say is it better darn well contain a breakup of the large banks into tiny pieces, so that we can never again find ourselves in a position of "too big to fail".

That is what anti-trust law is for.

So let's get it right- and break up those banks.

[KevinD]

I always find the wrong place to post this crap. Anybody read this?

http://www.conservativenannystate.org/

[FAB1]

Of course its not even possible that Zero, Gore, GS, JP Morgan atr all in a carbon credits bed together /sarc

[alevin]

Anybody read this?

http://www.conservativenannystate.org/

I haven't, but been working on an older book along similar lines.

Money and Class in America. Lewis Lapham. 1988. Storyline more about how "money buys happiness" belief system among the wealthy.

[Viva_La_Migra]

GOP abandons blockade of banking regulation bill


http://news.yahoo.com/s/ap/20100428/ap_on_bi_ge/us_financial_overhaul

What??? The GOP going against their corporate masters?

Uhh, ohhh, I don't think Michael Steele is going to see much of anything in the coffers from Goldman Sachs or CitiBank this Christmas (ie 2010 Election Campaign donations).

More importantly, I wonder how this will affect financial stocks on Thursday? The market typically does not like the GOP and Dems agreeing on something...especially when it has to do with regulating them.

Overall though, I don't mind a 1-2 day hit in the market in exchange for not having a repeat of 2008.

Especially while laying low in the -G-.:D
As usual, you lie and distort the truth to fit your own view of the world.

http://www.foxbusiness.com/story/markets/industries/finance/campaign-donations-access-ideology/

I know, you didn't hear this from Dan Blather, Keith Overbite, or Rachel MadCow, so it couldn't be true. If you read the story though, you'll find it is really a fair piece of reporting. Don't dismiss it right away because it came from Foxbusiness.com.

[Frixxxx]

But you (and Faux Noise) AND Comical News Network are leaving out the main point here:

Democrats (despite donations) WANT MUCH MORE REGULATION ON GOLDMAN SACHS AND THE OTHER BANKS. to prevent a repeat of the financial industry/Toxic Asset/economic collapse.

The GOP wants much looser (ie loopholes) rules for these institutions.

Who do you agree with on that issue?
Neither, I submit that Congress should demonstrate fiscal responsibility and then use that platform to ensure it is emulated in the businesses wrapped in the blanket of freedom in which they operate.

[Viva_La_Migra]

...But you (and Faux Noise) are leaving out the main point here:

Democrats (despite donations) WANT MUCH MORE REGULATION ON GOLDMAN SACHS AND THE OTHER BANKS. to prevent a repeat of the financial industry/Toxic Asset/economic collapse.

The GOP wants much looser (ie loopholes) rules for these institutions.

Who do you agree with on that issue?
I just reread your first post on this thread, and that was not your "main point." Your main point was alleging that Republicans are going against their corporate bosses. I just showed that Dems are as beholden to corporations as the Republicans are, particularly when it comes to Unions. Yes, unions are corporations. They may be set up as non profit corporations, but they are corporations.

I haven't formed an opinion on the proposed regulations yet, because I haven't read the proposals yet. Once I know what the proposals, I'll let folks know my thoughts. I will say this, I don't believe in too big to fail. Those companies that were rescued should have been allowed to fail.

[KevinD]

I kinda thought that post fit this thread. ;)

[KevinD]

Obama pushes passage of Wall Street reform bill

http://finance.yahoo.com/news/Obama-pushes-passage-of-Wall-apf-3862793539.html?x=0


WASHINGTON (AP) -- President Barack Obama pushed on Saturday for passage of a financial overhaul bill being debated on Capitol Hill, saying it would empower consumers and bring back-room investment deals "into the light of day."

In his weekly radio and Internet address, Obama said the legislation would also curb predatory lending practices, prevent banks from taking on too much risk and give shareholders more of a say.