Financial Reform

[tsptalk]

House, Senate leaders finalize details of sweeping financial overhaul

"Key House and Senate lawmakers approved far-reaching new financial rules early Friday after weeks of division, delay and frantic last-minute dealmaking. The dawn compromise set up a potential vote in both houses of Congress next week that could send the landmark legislation to President Obama by July 4. "

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[Warrenlm]

Barney is explaining the new bill's virtues. He said it will prevent subprime liar loans. He said it took the Democrats taking control of the Congress to be able to stop this abuse. He really did.

 

[CountryBoy]

Democratic Senate Banking Committee Chairman Christopher Dodd said “It’s a great moment. I’m proud to have been here. No one will know until this is actually in place how it works. But we believe we’ve done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done.”

Im not really sure how he knows that since they won't know how it works until it's in place. What kind of logic is that I beleive that we'll find out that it is all of us that will get screwed and not the banks. Just a WAG.