US House passes financial reform bill.
Sham, joke Banks still control congress. The Republicans seem to be owned by the Banking lobbyists. Gerald
...In the final vote, 27 Democrats – and every Republican present – opposed the bill,..
( Just like the Health bills, Republicans didn't even vote on their own Bill. G )
President Barack Obama applauded the passage and said: “The crisis from which we are still recovering was born not only of failure on Wall Street, but also in Washington. We have a responsibility to learn from it, and to put in place reforms that will promote sound investment, encourage real competition and innovation, and prevent such a crisis from ever happening again.”
( They don't seem to have learned, Where is the NEW Glass Segal act, separating banks from
Investment banks the base cause of the Sub-Prime swindle that has brought the world to the
edge of a Financial meltdown. NOTHING has been done to prevent a replay of similar conditions. G )
In one victory for the banks( earnings), an amendment that would have allowed a bankruptcy judge more power to reduce mortgages of financially struggling borrowers was defeated.( The SOB's, we
gave them $700 Billion, and
Feds gave them Trillions, the Republicans all voted the Banks way. G )
David Hirschmann, a director of the US Chamber of Commerce, said: “While there is a laundry list of bad choices that were made by the House, the creation of the CFPA tops the list.”
However, he said he was encouraged by the “growing group of moderate Democrats” who helped amend the bill to prevent states from setting tougher consumer protection standards. ( The Dems have sold out, they seem to think 30% Credit card rates and 402% pay day loans are not criminal. NowNot even States can pass laws against LOAN SHARKING, legal at federal and State level BY DEFAULT.
thats not REFORM.
Another provision that has been resisted by banks allows regulators to impose a loss on creditors of failing financial institutions that need to be seized by the government.( WTF, if a failing bank is seized the Tax payer foots the bill not the Creditors, this is just horse shit. G )
Nothing to be proud of here, just the banks buying congressmen and screwing the taxpayer, keep moving, you should be used to it by now.
I just don't like it,
the Bankers never KISS ME.
I liked to be kissed when I'm being screwed. G
Series 7 & 13