KarlMarx
06-26-2010, 10:47 AM
Nearly two years after tremors on Wall Street set off a historic economic downturn, congressional leaders greenlighted a bill early Friday that would leave the financial industry largely intact but facing a more powerful network of regulators who could impose limits on risky activities.
The final bill took shape after a 20-hour marathon negotiation between House and Senate leaders seeking to reconcile their separate versions. The legislation puts a lot of faith in the watchful eye of regulators to prevent another financial crisis. New agencies would police consumer lending, the invention of financial products and the trading of exotic securities known as derivatives. Bank supervisors would have the power to seize large, troubled financial firms whose collapse could threaten the entire system. The bill calls for banks to hold more money in reserve to weather economic storms but leaves the details to regulators.
remainder of article at:
http://www.washingtonpost.com/wp-dyn/content/article/2010/06/25/AR2010062500675_pf.html
Christopher Dodd and Barney Frank are cosponsoring this bill.... that's like Al Capone and John Gotti running the jail...
Can someone please tell me why these two crooks aren't in jail???????
The final bill took shape after a 20-hour marathon negotiation between House and Senate leaders seeking to reconcile their separate versions. The legislation puts a lot of faith in the watchful eye of regulators to prevent another financial crisis. New agencies would police consumer lending, the invention of financial products and the trading of exotic securities known as derivatives. Bank supervisors would have the power to seize large, troubled financial firms whose collapse could threaten the entire system. The bill calls for banks to hold more money in reserve to weather economic storms but leaves the details to regulators.
remainder of article at:
http://www.washingtonpost.com/wp-dyn/content/article/2010/06/25/AR2010062500675_pf.html
Christopher Dodd and Barney Frank are cosponsoring this bill.... that's like Al Capone and John Gotti running the jail...
Can someone please tell me why these two crooks aren't in jail???????