Financial Reform Bill Passes - PowerStrokeNation : Ford Powerstroke Diesel Forum
Reply
 
LinkBack Thread Tools Display Modes
post #1 of 13 (permalink) Old 05-21-2010, 02:53 AM Thread Starter
Gandy Dancer
 
AK Gandy's Avatar
 
Join Date: Feb 2010
Location: In The Villages
Posts: 5,972
Financial Reform Bill Passes

Senate Passes Bill

WASHINGTON – Prodded by national anger at Wall Street, the Senate on Thursday passed the most far-reaching restraints on big banks since the Great Depression. In its broad sweep, the massive bill would touch Wall Street CEOs and first-time homebuyers, high-flying traders and small town lenders.

The 59-39 vote represents an important achievement for President Barack Obama, and comes just two months after his health care overhaul became law. The bill must now be reconciled with a House version that passed in December. A key House negotiator predicted the legislation would reach Obama's desk before the Fourth of July.

The legislation aims to prevent a recurrence of the near-meltdown of big Wall Street investment banks and the resulting costly bailouts. It calls for new ways to watch for risks in the financial system and makes it easier to liquidate large failing financial firms. It also writes new rules for complex securities blamed for helping precipitate the 2008 economic crisis, and it creates a new consumer protection agency.


I'll have to give credit to the Party of No...............some of them actually voted for it.

What I don't understand however, is if it was all Clinton/Fannie Mae/Freddie Mac (as so many around here are want to point out)...................why would the Repub's feel a need to vote for this type of regulation?

Ya suppose they know it wasn't quite as simple as that?

Never have so many politicians, screwed so many Americans...just to make one black person lose his job.
Quote:
Originally Posted by Binderpower View Post
I can be possible.
AK Gandy is offline  
Sponsored Links
Advertisement
 
post #2 of 13 (permalink) Old 05-21-2010, 03:08 AM
Caption This
 
444-4D's Avatar
 
Join Date: Aug 2007
Location: Tulsa
Posts: 4,256
Re: Financial Reform Bill Passes

Quote:
Originally Posted by AK Gandy View Post
I'll have to give credit to the Party of No...............some of them actually voted for it.
There's four more to add to the "getridof" list.

If only those who knew what they were talking about replied, this thread would still be on page one.
2000 F-250 CC 4x4 PSD Auto
444-4D is offline  
post #3 of 13 (permalink) Old 05-21-2010, 03:28 AM
<-- it's like that
 
Join Date: Jul 2007
Location: Parker, CO
Posts: 6,567
Re: Financial Reform Bill Passes

Quote:
Originally Posted by 444-4D View Post
There's four more to add to the "getridof" list.
Why? Simply because they voted for much needed financial regulation changes?

Current financial regulations are far outdated, and need to be changed. Everyone on both sides of the isle knows this.

Curtis
2002 F-250 PSD
Gambling with 250/200's on PMR's.
478hp/851tq on Haller's dyno - 7/28/12
Your connection to the
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
.
Pocket is offline  
 
post #4 of 13 (permalink) Old 05-21-2010, 03:54 AM
Yeah, it's like that
 
ducatirider944's Avatar
 
Join Date: Jul 2009
Location: Right Wing, Midwest
Posts: 2,419
Re: Financial Reform Bill Passes

Quote:
Originally Posted by 444-4D View Post
There's four more to add to the "getridof" list.
Yep, and one of them is from IA, so I get a vote in the game.

$10 says that Freddie and Fannie are exempt to, I just found the 1300 page bill, looks like I have some reading to do.

Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States.
Ronald Reagan
ducatirider944 is offline  
post #5 of 13 (permalink) Old 05-21-2010, 04:02 AM Thread Starter
Gandy Dancer
 
AK Gandy's Avatar
 
Join Date: Feb 2010
Location: In The Villages
Posts: 5,972
Re: Financial Reform Bill Passes

Quote:
Originally Posted by AK Gandy View Post
What I don't understand however, is if it was all Clinton/Fannie Mae/Freddie Mac (as so many around here are want to point out)...................why would the Repub's feel a need to vote for this type of regulation?

Ya suppose they know it wasn't quite as simple as that?
Quote:
Originally Posted by ducatirider944 View Post
$10 says that Freddie and Fannie are exempt to,
That sure didn't take long.

Never have so many politicians, screwed so many Americans...just to make one black person lose his job.
Quote:
Originally Posted by Binderpower View Post
I can be possible.
AK Gandy is offline  
post #6 of 13 (permalink) Old 05-21-2010, 04:22 AM
Yeah, it's like that
 
ducatirider944's Avatar
 
Join Date: Jul 2009
Location: Right Wing, Midwest
Posts: 2,419
Re: Financial Reform Bill Passes

Quote:
Originally Posted by AK Gandy View Post
That sure didn't take long.
Yeah, you have way more knowledge of the housing market and what banks are or aren't able to do than someone that has been in the industry for the last 15 yrs. Why don't you go and look at what percentage of home loans ended up in the hands of freddie and fannie in 1980 then 1990 then 2000 and now in 2010 and then get back to me on that.

Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States.
Ronald Reagan
ducatirider944 is offline  
post #7 of 13 (permalink) Old 05-21-2010, 01:29 PM Thread Starter
Gandy Dancer
 
AK Gandy's Avatar
 
Join Date: Feb 2010
Location: In The Villages
Posts: 5,972
Re: Financial Reform Bill Passes

You are so pedantic on this subject.

Quote:
The measure aims to rein in big firms' use of high-risk practices blamed for the collapse of 2008, end taxpayer-funded bailout of financial titans previously deemed "too big to fail," and create an unprecedented consumer protection agency to shield Americans from industry abuses.

It also seeks to curb big banks' lucrative, largely unregulated business in complex securities called derivatives, essentially bets on the future cost of an asset, which many businesses use to control risk from volatile prices.


Never have so many politicians, screwed so many Americans...just to make one black person lose his job.
Quote:
Originally Posted by Binderpower View Post
I can be possible.
AK Gandy is offline  
post #8 of 13 (permalink) Old 05-21-2010, 01:32 PM
FNG
 
Dave's Avatar
 
Join Date: Nov 2007
Location: Trempealeau WI
Posts: 6,018
Re: Financial Reform Bill Passes

And fannie freddie and goldman are all exempt unless something has changed over this last month

Thats fukking bull####

Dave G

06 F250 Lariat 4x4 leveled on 35s

4 inch flowmaster exhaust
Bulletproof diesel egr delete.
Bulletproof diesel FICM
Performance Machine & Manufacturing Coolant Filter Kit

ECM and FICM tuned by Bill at PHP SCT tunes from Gearhead, Innovative and Wildman
Dave is offline  
post #9 of 13 (permalink) Old 05-21-2010, 01:43 PM
<-- it's like that
 
Join Date: Jul 2007
Location: Parker, CO
Posts: 6,567
Re: Financial Reform Bill Passes

Quote:
Originally Posted by ducatirider944 View Post
Yep, and one of them is from IA, so I get a vote in the game.

$10 says that Freddie and Fannie are exempt to, I just found the 1300 page bill, looks like I have some reading to do.
Hmmm, interesting. Two people here in this thread want to oust the Republicans who voted for the bill, yet these same two people didn't even read the bill at all, or even know what's in it.

How does that make any sense?

Curtis
2002 F-250 PSD
Gambling with 250/200's on PMR's.
478hp/851tq on Haller's dyno - 7/28/12
Your connection to the
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
.
Pocket is offline  
post #10 of 13 (permalink) Old 05-21-2010, 01:45 PM
<-- it's like that
 
Join Date: Jul 2007
Location: Parker, CO
Posts: 6,567
Re: Financial Reform Bill Passes

Quote:
Originally Posted by Dave View Post
And fannie freddie and goldman are all exempt unless something has changed over this last month

Thats fukking bull####
Fannie and Freddy won't be restructured until that fat f#ck Barney Frank is out of office. That's my prediction.

Curtis
2002 F-250 PSD
Gambling with 250/200's on PMR's.
478hp/851tq on Haller's dyno - 7/28/12
Your connection to the
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
.
Pocket is offline  
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the PowerStrokeNation : Ford Powerstroke Diesel Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome