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4 Bumps

Why complete financial reform if it maintains the status quo?

http://www.newsweek.com/2010/06/25/financial-reform-makes-biggest-banks-stronger.html

So, the bill is at approx. 2000 pages. Will we get our 3-5 days to read it before they vote on it? Better yet, will our elected officials READ IT?

If this bill doesn't change anything for wall street, what's the point of reform?


 
QuinnMae

Asked by QuinnMae at 11:47 AM on Jun. 29, 2010 in Politics & Current Events

Level 48 (291,803 Credits)
This question is closed.
Answers (8)
  • For a normal fairly educated person? There isn't any reason to pass it. To Democrats in congress? It's the power this bill gives the government against these big businesses. There are 2 things this bill does. Gives the government power to decide if a company is being to risky and how to fix the situation and it will bring new bank and credit/debit card fees to those who use them.

    This isn't needed. How hard is it to not treat a company as "too big to fail"? It works like this.... Don't bail them out if they fail! PERIOD
    Thats the solution here. The Dems are only out for the power.
    itsmesteph11

    Answer by itsmesteph11 at 2:11 PM on Jun. 29, 2010

  • Fannie Mae and Freddie Mac are exempt too.

    Look at the largest purchases we make in our lives. Homes and cars. Who are the worst in predatory lending? Mortgage brokers and car dealers.

    What a complete waste of time and money.
    mancosmomma

    Answer by mancosmomma at 12:09 PM on Jun. 29, 2010

  • It doesn't change anything for Wall Street, it lets car dealers off the hook, no one will read it, people will vote according to party lines or pay-offs.
    mancosmomma

    Answer by mancosmomma at 12:07 PM on Jun. 29, 2010

  • Because they can say they "did something." It is just like the health care bill..they did something who cares if it was the wrong something.
    yourspecialkid

    Answer by yourspecialkid at 3:53 PM on Jun. 29, 2010

  • This bill does exactly what they want it to do - ensure they'll continue to get corporate campaign donations between now and November. It doesn't even matter if it passes - all they have to do is prove they fought for "their" side.
    NotPanicking

    Answer by NotPanicking at 5:51 PM on Jun. 29, 2010

  • Well, they can say they did something. (It doesn't matter what the "something" is. Just do.)
    jesse123456

    Answer by jesse123456 at 9:55 PM on Jun. 29, 2010

  • NP, you have nailed it, as usual.
    mancosmomma

    Answer by mancosmomma at 10:11 PM on Jun. 29, 2010

  • QuinnMae

    Comment by QuinnMae (original poster) at 11:47 AM on Jun. 29, 2010

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