Financial reforms represent a solid step forward

[NJmaverick]

The passage of sweeping financial regulation — on the same day the BP oil spill appears to finally have been plugged — provides a nice boost to the Obama administration's domestic team, which has had rougher going than a rescued Gulf Coast pelican.

President Barack Obama scored three huge victories that will benefit Main Street:
* The trillion-dollar over-the-counter derivative business will be brought into the open, shining light on a shadowy industry that wreaked havoc on the U.S. economy by selling repackaged mortgages.

* The creation of a new consumer protection agency that will guard against unfair financial practices by mortgage and credit card companies.

* The new authority to head off the need for taxpayer bailouts of banks that are "too big to fail."

http://www.mercurynews.com/opinion/ci_15526649?nclick_check=1

[Junkdrawer]

1. Your post makes it official...

This financial reform is meaningless.

[NJmaverick]

4. How so?

[Subdivisions]

2. No they don't. Have you read the bill, NJmaverick? n/t

[NJmaverick]

3. I have read a good summary and your claims are incorrect

[Subdivisions]

5. No, your claims are incorrect. n/t

[NJmaverick]

6. Have you read the bill?

[Subdivisions]

7. Perhaps I read a 'good' summary also. n/t

[NJmaverick]

8. This one?

http://www.weil.com/files/upload/Weil%20Dodd-Frank%20Overview.pdf

[Dawgs]

9. Almost every real economist would agree that it's a good start.

Looks like the DU "economists" disagree.

[NJmaverick]

10. That seems to be the case

[Subdivisions]

17. Are you an economist? n/t

[NJmaverick]

21. Did you finish reading the summary I gave you?

[Subdivisions]

23. No, but I saved it for reading later tonight. Now, are you an economist or not? n/t

[BuelahWitch]

12. So we'll fix this one later too?

Like the health care shit sandwich?

[Dawgs]

13. Yep. But, it's still a good start.

Too bad your fear and ignorance don't allow you to admit it.

[NJmaverick]

14. Like Social Security or Medicare?

:shrug:

[uponit7771]

16. DUrs are smarter than those economist

[spanone]

11. k&r - republicans would never have uttered the words 'reform'

the 'unrecs' have it

[NJmaverick]

18. Yeah, the Republicans are going to regret being on the wrong side

of this historic bill.

[RedEarth]

15. I agree

It might not be perfect(no bill ever is), but it is a solid step forward. I think Obama, has accomplished a hell of lot in time he's been in office.

[NJmaverick]

19. Yes he has, and he is only beginning. Let's hope he has the Democratically controled

congress he needs after November.

[Name removed]

20. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Eyerish]

22. Just curious...

What's that picture have to do with the pros/cons of the current financial reform??

[HughMoran]

26. kick!

[Name removed]

27. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Scurrilous]

24. Thanks.

K & R :thumbsup:

[azmouse]

25. One more good thing from this President.

:thumbsup:

[Cha]

28. Thanks Maverick! nt

[Scurrilous]

29. Kick

:kick: