Thread: Wall St. Reform Approved

Another load of Wet Organ's redneck bull shit. You've been in the company of some really stupid people. That's how you got the idea everyone is stupid. You've run out of gas, one trick pony. Get lost.

Originally Posted by Jet Gorgon

it won't pass the Senate.

for posterity.

Originally Posted by Jet Gorgon

Stupid bill and wrong timing.

pretty good bill (IMO not enough teeth to rein in the banksters) and great timing.

Originally Posted by Jet Gorgon

Very poor leadership and no exec skills.

quite the contrary, his exceptional leadership and executive skills helped to get all of the following accomplished in the last year and a half....

stimulus program brought the country back from the brink of economic collapse
passed a historic health care bill
sotomayer on USSC
fair pay act for women
set a fixed timetable for withdrawal from iraq
lifted restrictions on stem cell research
credit card and college financial aid reform
kept america safer for longer than the last administration did.

considering that this week will likely have positive results for the financial reform vote and the kagan nomination (and a possible energy bill before the end of the year), it would be extremely difficult for anyone but the most rabidly venomous of partisans to say that this hasn't been an incredibly productive first two years of a presidency...and just think....there's still two more years left in his first term.

Originally Posted by raycarey

Originally Posted by Jet Gorgon

Very poor leadership and no exec skills.

quite the contrary, his exceptional leadership and executive skills helped to get all of the following accomplished in the last year and a half....

stimulus program brought the country back from the brink of economic collapse
Uh, huh...



U.S. NATIONAL DEBT CLOCK The Outstanding Public Debt as of 28 Jun 2010 at 0157 PM GMT is:



passed a historic health care bill
Yep, it's historic alright.

With the support of an inarguably corrupt Congress that has simply abandoned the real needs of the American people, the sick-care industry has locked in a high-profit scheme of disease and monopoly-priced pharmaceuticals in a nation that can ill afford either one.

And this Pharma-funded betrayal, it turns out, was led by the Democrats. Passed on a 219-212 vote that was only accomplished thanks to closed-door, last-minute secret meetings among the last holdouts, this new legislation puts America under the stranglehold of the medical mafia while doing absolutely nothing to address real health care reform.

The new legislation does, however, lock in billions of dollars in monopoly profits for the pharmaceutical companies -- the same companies who spent millions of dollars pushing for its passage and who depend on the continuation of sickness and disease for their future profits.

sotomayer on USSC
Oh, you mean SCOTUS (didn't learn that in school?)
Let's see how she gets on, and the new politicised libbie and military hater, Kagan.

fair pay act for women
Beggar, I always got paid more than my male colleagues.

set a fixed timetable for withdrawal from iraq
55555555555555555 Erm, you might want to retract that statement.

lifted restrictions on stem cell research
So?

credit card and college financial aid reform
Oh ya, that's really gonna help people and the taxpayers.

kept america safer for longer than the last administration did.
Really? How's that?

considering that this week will likely have positive results for the financial reform vote and the kagan nomination (and a possible energy bill before the end of the year), it would be extremely difficult for anyone but the most rabidly venomous of partisans to say that this hasn't been an incredibly productive first two years of a presidency...and just think....there's still two more years left in his first term.

Yep, productive for anyone who wants the country destabilised, demoralised and debt-ridden.
The whole military is laughing their butts off at Obama coz they know that McC and his staff spoke the truth. He'll never get respect from them again except behind hand-over-mouth salutations. The People are sick of this narcissist pansy. He lost at the G20 and he's losing at home.

As usual Ray the marxist has jumped the gun.

Ray it hasn't passed & probably won't.

Thanks for dying at the right moment Robert.

So put the corks back in the champagne bottles Ray & bite your tongue.

Some Nome Fucking Nah.

Jet completely and utterly owned . . . again. I wonder if she will respond with a reasoned post or obfuscate or simply go to the next topic

Let me get this straight . . . Jet is Canadian? Wow,, she sounds and is so very involved and one-sided that one would think she was born and bred in Alabama

Yep, Wall Street Reform under obama, dodd and the libbies. I'm still LMAO. Mebbe obama can push the WV guv to appoint a replacement for Byrd, but I reckon the Senate won't have the votes.
As I noted before, the big banks don't care. The small banks will suffer; the big banks will just tack more fees on the little folks using their services. Can your jell-o brain process that?
Oh, ray, regret I forgot a linkie for a quote I added in italics to show it was quoted from another source. Guess you couldn't see that. And where's the linkie for your chart and what does it mean? Unemployment? A pity it doesn't include a breakdown for all those temp govt jobs, like the 400k hired for the Census, where camel toe finally got some work.

BTW, how is Gitmo these days? And the definite A-stan pull-out in July 2011? Unemployment will not exceed 8% if we pass my $878bil stimulus pkg? Oh, Dear!

Originally Posted by Jet Gorgon

Can your jell-o brain process that?

please refrain from personal attacks.

the rules in this part of the forum are quite clear.

Originally Posted by Jet Gorgon

I added in italics to show it was quoted from another source.

Originally Posted by Jet Gorgon

BTW, how is Gitmo these days?

btw, this thread is about wall street reform.

Originally Posted by Jet Gorgon

A-stan pull-out

it's still about wall street reform

Originally Posted by Jet Gorgon

Unemployment

guess what? this thread is still about wall street reforum

Originally Posted by raycarey

the rules in this part of the forum are quite clear.

Let's hope the moderation continues to be better than in Issues despite the influx of Jet, BM, dotcom . . .

Senate Math on Financial Reform Gets a Bit Easier

Maria Cantwell intends to vote for the bill, her spokesman tells me. She was won over by a letter from Commodity Futures Trading Commission Chairman Gary Gensler, in which he reassured her the language regulating derivatives is sufficiently clear and enforceable. Cantwell voted against the original Senate version because of concerns that there were loopholes in that portion of the legislation.

Her vote means Democrats will only need to win over two of the four fence-sitting Republicans to clear procedural hurdles in the Senate. Susan Collins has already suggested she's inclined to support the bill, leaving Olympia Snowe, Chuck Grassley and Scott Brown as three potential pick-ups to put the legislation over the top.

Jay reported earlier today that "Harry Reid's staff didn't seem too worried" about getting the votes. Cantwell's support gives them that much more breathing room headed into the recess.

Read more: Senate Math on Financial Reform Gets a Bit Easier TIME.com

The Senate has cleared a sweeping bank regulation bill for final passage by breaking through a Republican blockade.

The Senate voted 60-38 Thursday to end debate on the bill. That paved the way for Congress to send President Barack Obama a crackdown on banks and Wall Street that in some ways is tougher than what he sought.

The sweeping overhaul of America's financial regulations would secure Obama his third major, hard-fought legislative victory.

Financial reform bill clears Senate hurdle - Business - Stocks & economy - msnbc.com

Originally Posted by Jet Gorgon

it won't pass the Senate.

Originally Posted by Jet Gorgon

the Senate won't have the votes.

final vote is set for 2 PM EST.



great day for america....pretty bad day for the banksters---and their enablers & apologists.

well, the senate just voted....and it passed with ease.

now it heads to obama's desk to be signed (perhaps later today).....and it's officially the law of the land.

yet another massive legislative victory for the obama administration.

I don't see how the banking sector left Government much choice but to increase oversight after bringing the world financial system to it's knees, and causing a deep recession.

Like just about every piece of legislation passed these days (after the Lobbyists have finished with it) it's too complicated and full of holes for my liking, but thats what you have to do to get anything at all passed on Capitol hill it seems.

How might the GOP have done it differently?

Originally Posted by raycarey

yet another massive legislative victory for the obama administration.

It will be interesting what he pushes next to help our country,………energy or immigration reform.

Oh by the way,………..no doubt he will be (or another dem) sitting in the white house in 2013.

Originally Posted by S Landreth

It will be interesting what he pushes next to help our country,………energy or immigration reform.

i'd wager it will be energy, but it's really difficult to say.

Originally Posted by S Landreth

Oh by the way,………..no doubt he will be (or another dem) sitting in the white house in 2013.

agreed. this is shaping up to be very similar to '94/'96.

republicans throw hissy fits and whip up their base in a low turn out, midterm election and pick up a lot of seats in the house...... then the dem president easily paints them as obstructionists and coasts to easy victory in the following election.....just like clinton crushed dole in '96, obama will crush romney, huckabee or whoever else they put up in 2012.

Originally Posted by sabang

I don't see how the banking sector left Government much choice but to increase oversight after bringing the world financial system to it's knees, and causing a deep recession.

I don't think they need more oversight, too complicated to be effective, they need regulations that prevent banks for doing certain activities, seize their assets or nationalize them in case of not following those regulations, and held the Board of Directors in each in those banks personally liable, criminally and financially, in case of violation or breach.

The Board of Directors is the oversight, they are in a better position to perform that task, as long as the directors are fully independent and can run different compensation committees to "supervise" the banks practice.

As it stands, the industry is too big and too sophisticated (read smart) to be "supervised" effectively.

Another solution would be to breakdown completely the industry and the big 5, the current bill did address that if I am not mistaken by asking banks to spin-off their speculative business, but it doesn't go far enough.

Originally Posted by Butterfly

held the Board of Directors in each in those banks personally liable, criminally and financially, in case of violation or breach.

Nice thought, but there is no way this Corporate run world of ours would allow the concept of Limited Liability to be overturned.

Originally Posted by sabang

Nice thought, but there is no way this Corporate run world of ours would allow the concept of Limited Liability to be overturned.

it is here in most Modern Socialist Europe, for criminal activities or "risky" activities, CEO are held personally responsible and they get sued personally by the state.

That concept could be carried over to the US under a judicial reform act. That is Limited Liability doesn't hold for certain activities.

[QUOTE=Jet Gorgon;1485636]

Originally Posted by socal

Yep. You know why? Coz most of this crap will crush the smaller banks, pushing more customers to the big ones. And guess what? You know who will pay so the banks will continue to profit? The tax-paying customers. New service fees for bank accounts, chequing, ATM use...stupid libbies are bashing the People once again.

Wrong wrong wrong. Simple fox news party lies here. The smaller banks and especially the credit unions are stronger than they ever have been in American history. The exodus from the big banks has been massive since the right wing induced financial collapse.

The big banks pump most of their money into wall street. It is sad that these scare tactics are being pushed to the soft brains that watch fox news as many simpletons will be fooled into pulling their money from these CU and small banks due to propaganda and outright lies. Sad.

Why isn't this thread in US Issues?

This is just another socialist push by obama and his Dems for the govt to take over America. Kill private enterprise, put people on benefits, let the govt control biz -- look at Europe. How's Greece doing for ya? How's biz in the UK? France? The People will not allow this to continue. $13 TRILLION deficit; $1 TRILLION debt for 2010; NO budget passed for the year by the libbie Congress. This left-wing shill is a scam. Never mind fomenting racism to get the blacks and minorities in a huff to ensure libbie votes this November.
God forbid America ever becomes like France and buttfly's ideology. Share the wealth, my a**. Share my hard-earned money with lazy scum? Never. Good US People won't take it anymore. bsnub and his reservation girlfriends won't like it, but hey, here's hoping Rossi takes over your State.

Here's a real American.

http://video.foxbusiness.com/v/4284368/tea-parties-accused-of-continued-racism/?playlist_id=87185#/v/4284368/tea-parties-accused-of-continued-racism/?playlist_id=87185

well, it's now the law of the land.

U.S. President Barack Obama signed into law the most sweeping financial regulatory overhaul since the Great Depression Wednesday, saying that the new laws will foster innovation, not hamper it.

Speaking at the Ronald Reagan Building in Washington, D.C., Wednesday morning, Obama noted that over the past two years the nation has faced the worst recession since the Great Depression, with millions of Americans losing their jobs and watching the value of their retirement savings decline.



“The primary cause was a breakdown in our financial system,” Obama said. For years, the U.S. financial system was governed by “antiquated” rules, he added; rules that “left abuse unchecked and taxpayers on the hook if a financial institution failed.”


“There will be no more tax-funded bailouts ... period,” Obama added, and he noted that lawmakers will still need to “make adjustments” to the rules as the financial system adapts to the changes.


Obama also touted the broader economic benefits of new consumer financial protections.



"These reforms represent the strongest consumer financial protections in history," Obama said in a prepared statement on the new financial rules.



"These protections will be enforced by a new consumer watchdog with just one job: looking out for people — not big banks, not lenders, not investment houses — in the financial system. Now, that's not just good for consumers, that's good for the economy," he said.

Obama signs reform of financial rules into law - Business - Consumer news - msnbc.com