WIN WIN WIN: Senate passes Financial Reform Bill

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This bill does not give out bailouts. It specifically states that you need enough liquidity on hand to cover your losses, and creates a fund that all banks pay into in case there is trouble. It also creates a department within the fed that analyzes banks solely to make sure they aren't getting too big.
 
They made it a law that a mortgage broker has to verify income and employment. REALLY! That had to be written down? And people wonder why government needs to regulate shit.
 
Anyway...

You are only cerned with a "win" on your side. You wouldn't give a shit if this legislation gave the SEC the right to rape children. As long as the left passes the legislation.

You're a hack. Everyone knows it on this site. Time and time again your threads backfire. It's amusing and a little sad.

I would hate to live a life this is so self destructive as your know. I hope that you online persona does not reflect what you are like irl.
 
The guidelines are if it risks failure and has the potential to cripple the economy. It's right there in plain english

More so than the Bush administration? Give me a fucking break
 
Sure, but where is the bias in this bill?

The fact that Fannie and Freddie aren't involved? This is a bill that deals more with the private sector not the pseduo private sector.
 
rules were made to be broken, wall street will find ways around any new regulations in no time
 
"I don't know anything about the bill, but I'm more than willing to form an opinion on it!"
 
About 40% of CDO collateral is residential MBS. Almost three quarters of that is in subprime and home-equity loans, with the rest in higher-quality, prime home loans, the study estimated.

CDOs have become an important part of the mortgage market because they buy the riskier parts of MBS that others don't want. The higher-rated portions, or tranches, of MBS are sold to pension funds and insurers. But if the riskier tranches aren't sold too, the whole deal is off, Mason explained.

http://www.marketwatch.com/story/in-subprime-mortgage-shakeout-cdos-may-be-most-at-risk
 
Yeah. How many industries did the previous asshole meddle in?


How many of his policies have been reversed/scrapped?

How many of his policies have been willfully continued/expanded/protected?

Acting like this bunch is any better that the last marks you as a "sheep". Or "sheeple", if you prefer the humanized term.
 
To be fair it was Bush's bailouts and they worked.

I agree on all accounts that Obama, more times than not, is Bush with a tan.
 
Maybe if people didn't lie and could actually afford a house then they wouldn't have defaulted.
 
What is even more astonishing is that so many people still sack ride the very political party allowed it to happen.
 
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