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House Approves Tougher Rules on Wall Street - 12/12/2009 3:53:28 AM

Brain

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I can’t believe Republicans are against this too! Even the Obama administration are a bunch of Wall Street sellouts. The Republicans are either insane or they’re ridiculous!

House Approves Tougher Rules on Wall Street

After three days of floor debate, the House voted 223 to 202 to approve the measure. It would create an agency to protect consumers from abusive lending practices, set rules for the trading of some of the sophisticated financial instruments that fueled the crisis, and take steps to reduce the threat that the failure of one or two huge banks or investment firms could topple the entire economy.

Whether all of those measures will become law, however, is uncertain because the Obama administration wants certain revisions and the Senate will not take up its version of the legislation until next year.

No Republican voted for the measure, and 27 Democrats, most from more conservative districts, broke ranks with their party.

http://www.nytimes.com/2009/12/12/business/12regulate.html?_r=1&th&emc=th

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RE: House Approves Tougher Rules on Wall Street - 12/12/2009 4:11:09 PM

popeye1250

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Brain, do you have any other sources than "The New York Times?"

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RE: House Approves Tougher Rules on Wall Street - 12/12/2009 4:25:31 PM

Sanity

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The New York times is okay. There's n othing wrong with the New York Times. Its perfectly good for fish wrap, bird cage lining, kindling...

quote:

ORIGINAL: popeye1250

Brain, do you have any other sources than "The New York Times?"

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RE: House Approves Tougher Rules on Wall Street - 12/12/2009 10:00:14 PM

SpinnerofTales

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quote:

ORIGINAL: popeye1250

Brain, do you have any other sources than "The New York Times?"

Just out of curiosity, what part of the story do you feel another news source would have better presented?

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RE: House Approves Tougher Rules on Wall Street - 12/12/2009 10:20:17 PM

AnimusRex

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Fox News
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Sarah Palin's Facebook page
NewsMax
Free Republic
StormFront Quarterly
The John Birch Society Journal
Aryan People's Literary Review
Scientology Review
Left Behind- Periodical
The Guy Who Cuts My Hair

< Message edited by AnimusRex -- 12/12/2009 10:21:02 PM >

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RE: House Approves Tougher Rules on Wall Street - 12/13/2009 8:32:17 AM

DedicatedDom40

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quote:

ORIGINAL: SpinnerofTales

Just out of curiosity, what part of the story do you feel another news source would have better presented?

I agree with you there. Just how do you slant the tally of a vote count?

So much for the Republican party standing up for the taxpayer, refusing to reglulate the very Wall St gambling parlors whose bad bets are sucking the vast majority of your tax dollars right now.

No wonder only 18% of the population still associates with the Republican brand name.

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RE: House Approves Tougher Rules on Wall Street - 12/13/2009 9:56:26 AM

chiaThePet

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Before approving the measure, House Democrats held off an attempt led by
Representative Walt Minnick, Democrat of Idaho, to replace the proposed
new consumer protection agency with a council made up of existing regulators.

He and other moderate Democrats, joined by Republicans and much of the
the banking industry, argued the new agency — a central element of the
overhaul — represented an unnecessary bureaucratic approach that would give
the federal government excessive control over mortgages, credit cards and
other financial products.

“How many new government agencies are necessary to accomplish this task?”
asked Representative Dan Boren, Democrat of Oklahoma. Their effort was
defeated on a vote of 223 to 208, removing a final obstacle to the measure.

It would have created jobs? How dare they!

In other important preliminary votes, lawmakers slightly scaled back the bill’s
ambitions to address objections from powerful financial interests.

Heeding complaints from banks, the House rejected an effort to allow bankruptcy
judges to restructure mortgage payments, a plan that has passed the House before
but not the Senate.

House members also agreed to relax some of the proposed new controls on trading
in derivatives. Rather than subject all over-the-counter derivatives to open trading
the bill would subject such derivatives only if they were traded between Wall Street
Wall Street firms, or with a major player like the American International Group. But
the transactions between dealers and customers will remain largely hidden, so
customers will not be able to compare the prices they are being charged with the
prices charged to other customers.

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My Daddy was a jockey and he taught me how to ride.
He said, "chia*, you've got to hit it from side to side".

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RE: House Approves Tougher Rules on Wall Street - 12/13/2009 1:43:08 PM

slvemike4u

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quote:

ORIGINAL: Sanity

The New York times is okay. There's n othing wrong with the New York Times. Its perfectly good for fish wrap, bird cage lining, kindling...

quote:

ORIGINAL: popeye1250

Brain, do you have any other sources than "The New York Times?"

Or,under the heading of expanding your very narrow point of veiw......you could try reading the damm thing.The beauty of this arrangement is you can still go ahead and use it as fish wrap..et al ,and you just might have learned something in the interim.

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RE: House Approves Tougher Rules on Wall Street - 12/13/2009 2:38:24 PM

SpinnerofTales

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~FR~

Once again, it is interesting that not one single republican thought that creating new regulations on financial institutions so that the economic meltdown we're in might be a little less likely to happen again. Of course, they all examined the bill and voted their belief. There isn't any knee jerk effort to vote no on everything possible in their agenda of obstruction.

sheesh.

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