Weakened Wall Street Reform Bill to Pass - GoFuckYourself.com

BFT3K · 07-15-2010, 01:56 PM

But thanks to the douche bag GOP, who are clearly in bed with the corps, and who do not give a shit about the people, it is much weaker than it could have and should have been.

Another reason Obama will be re-elected in 2012, as the Republitards continue to OFFER NOTHING for the regular American people!

What did McCain say when he was asked what constituted "rich" in the US? He said a person who was worth $5 Million PLUS!

The GOP is totally out of touch!

---------

Ultimately, given the make-up of the Senate and the requirement of 60 votes, this was the best bill that could pass. For those who wish the bill was stronger, let there be no confusion about where the blame lies. It is because almost every Senator on the other side of the aisle did everything they could to stall, delay and oppose Wall Street reform.

story here...

http://www.huffingtonpost.com/sen-te..._b_647720.html

sortie · 07-15-2010, 03:03 PM

Republicans are a sad sack of hot bitter shit that steams so high that the sack is sweating.

IllTestYourGirls · 07-15-2010, 03:13 PM

How many republicans are in the Senate?

The Demon · 07-15-2010, 03:19 PM

Quote:

Originally Posted by IllTestYourGirls

How many republicans are in the Senate?

Don't mind the two dumbest liberals on this forum. They're only here for our amusement.

BFT3K · 07-15-2010, 03:24 PM

Quote:

Originally Posted by IllTestYourGirls

How many republicans are in the Senate?

Who cares how many - the MAJORITY of them (shy 3) decided that WALL Street is MORE important than the average citizen.

Your side protects the interests of the bankers and big oil, and you wonder why Obama won?

You guys are so fucking funny!

GregE · 07-15-2010, 03:29 PM

Quote:

Originally Posted by IllTestYourGirls

How many republicans are in the Senate?

Too many.

The Demon · 07-15-2010, 03:51 PM

Quote:

Originally Posted by BFT3K

Who cares how many - the MAJORITY of them (shy 3) decided that WALL Street is MORE important than the average citizen.

Your side protects the interests of the bankers and big oil, and you wonder why Obama won?

You guys are so fucking funny!

You're right, Obama doesn't represent the wealthy, he represents the hard working middle class! I'm not sure if you're trolling or you really are as dumb as you type. As I said before, YOU are in the right business

Joshua G · 07-15-2010, 03:57 PM

was it really the repubicans that watered down the bill, or the democrats?

http://www.nytimes.com/2010/07/15/us...ml?_r=1&ref=us

Quote:

For example, on Dec. 10, one of the lawmakers under investigation, Representative Joseph Crowley, a New York Democrat who sits on the Ways and Means Committee, left the Capitol during the House debate to attend a fund-raising event for him hosted by a lobbyist at her nearby Capitol Hill town house that featured financial firms, along with other donors. After collecting thousands of dollars in checks, Mr. Crowley returned to the floor of the House just in time to vote against a series of amendments that would have imposed tougher restrictions on Wall Street.

GregE · 07-15-2010, 04:03 PM

Quote:

Originally Posted by joshgirls

was it really the repubicans that watered down the bill, or the democrats?

http://www.nytimes.com/2010/07/15/us...ml?_r=1&ref=us

No one ever said that the republicans have a monopoly on crooked politicians.

They have waaaay more than their share however.

Joshua G · 07-15-2010, 04:09 PM

Quote:

Originally Posted by GregE

No one ever said that the republicans have a monopoly on crooked politicians.

They have waaaay more than their share however.

Disagree. the only difference between the parties is which type of crony buys them off. the repubs are for sale to corporations. Democrats are for sale to lawyers & unions. Both are for sale to wall street & health care.

marketsmart · 07-15-2010, 04:22 PM

all you people are stupid....

its not republican or democrat.. its the whole fucking system...

when you dumbasses wake up and realize that, maybe we can have some good conversations....

this is exactly the "my side vs. your side" arguments the govt wants you to have.. by arguing over who's right and whos' wrong, you end up losing focus on "the problem"

.

erooup · 07-15-2010, 04:31 PM

Quote:

Originally Posted by marketsmart

this is exactly the "my side vs. your side" arguments the govt wants you to have.. by arguing over who's right and whos' wrong, you end up losing focus on "the problem"

.

That line need to be printed onto those twats lunchbags.

IllTestYourGirls · 07-15-2010, 04:37 PM

Quote:

Originally Posted by joshgirls

Disagree. the only difference between the parties is which type of crony buys them off. the repubs are for sale to corporations. Democrats are for sale to lawyers & unions. Both are for sale to wall street & health care.

exactly they all are CORPORATISTS

GregE · 07-15-2010, 05:26 PM

Quote:

Originally Posted by IllTestYourGirls

exactly they all are CORPORATISTS

Who might one day end up like the original one.

"Fascism should more properly be called corporatism because it is the merger of state and corporate power."

-- Benito Mussolini

The Demon · 07-15-2010, 05:48 PM

http://www.statepress.com/2010/06/13...st-regulation/

Quote:

The government’s misguided logic tells them we need more financial regulations in order to ensure that banks don’t end up being too big to fail – in other words, “too-big-to-not-be-given-a-bailout-package.” This means allowing the Federal Reserve Banks of New York and Washington, D.C. to play an even more special role in policy-making, and, in turn, making the central bank more centralized. That makes as much sense as cutting down trees to use less paper.

We have 3,500 regulators in the Securities and Exchange Commission, yet they can’t keep track of the top few financial firms? Face it; the economists who are smart enough to work around the government regulations aren’t going to be working for the SEC. They’ll be working for investment banks and outsmarting the regulators until the government can out-pay Berkshire Hathaway.

Investment banks know the government will continue to bail them out if they follow its rules. If they are forced to play by the rules of the free market with no regulations, there will be no one to bail them out and therefore the banks will take far fewer risks.

Before the Federal Reserve was established, banks handled their crises privately and without money from the taxpayers, and we were fine. Ben Bernanke admitted at a 2002 conference to honor economist Milton Friedman’s 90th birthday that the Federal Reserve caused the Great Depression. Bernanke then added that, thanks to Friedman’s warnings, it will never again cause another financial crisis—this coming from his mouth just six years before the Reserve caused another one. We can’t afford to let a human being have this much economic power. Better 1,000 bad men free than one bad man in power.

With this notion, in addition to the public outcry against the 2008 bailouts, the government came up with a better way to solve our problems in the new financial regulation bill. The Washington Post reported, “The legislation would also empower officials to seize the biggest financial firms if they face collapse.” So instead of giving the companies our money, they’ll replace the bad people in charge with perfect little angels because no one’s more legitimate than someone who’s appointed by President Barack Obama. Sounds to me like bailouts in the form of bodies.

Truthfully, whom does the government plan to hire who isn’t already working at another investment bank? If the government simply let the irresponsible banks fail without these regulations, two things would happen. One, stockholders would lose their money. Too bad. There’s no such thing as a 100 percent guarantee on an investment; it’s the point of investing. Two, other responsible banks would have a chance at becoming more competitive. What gives the government the right to seize a company? God forbid a company promotes Ron Paul’s free market campaign and Don Geithner has to take them over. That’s an abuse of power waiting to happen.

The question I’m asking is this: If we can’t count on the government to balance its own budget, how can we expect it to handle the complex budgets of investment banks? The best way to regulate the market is to not regulate it at all.

QFT.... Amen to the Austrian School.

SpongeBub · 07-15-2010, 06:32 PM

Let me tell you why this bill will wind up much worse than what it is now - because almost none of the real regulations have actually been written. Just very vague "guidelines" are in this bill. The banks and Wall Street know that when the guys tasked with writing the actual regulations get down to business, away from and forgotten by the public, then they will be able to get exactly what they want, which is basically no regulation at all. Fucked up system we got here ... but still the best in the world.

07-15-2010, 01:56 PM	#1
BFT3K Too lazy to set a custom title Industry Role: Join Date: Dec 2005 Location: Narnia Posts: 10,764	Weakened Wall Street Reform Bill to Pass But thanks to the douche bag GOP, who are clearly in bed with the corps, and who do not give a shit about the people, it is much weaker than it could have and should have been. Another reason Obama will be re-elected in 2012, as the Republitards continue to OFFER NOTHING for the regular American people! What did McCain say when he was asked what constituted "rich" in the US? He said a person who was worth $5 Million PLUS! The GOP is totally out of touch! --------- Ultimately, given the make-up of the Senate and the requirement of 60 votes, this was the best bill that could pass. For those who wish the bill was stronger, let there be no confusion about where the blame lies. It is because almost every Senator on the other side of the aisle did everything they could to stall, delay and oppose Wall Street reform. story here... http://www.huffingtonpost.com/sen-te..._b_647720.html

07-15-2010, 03:03 PM	#2
sortie Confirmed User Industry Role: Join Date: Mar 2007 Posts: 7,771	Republicans are a sad sack of hot bitter shit that steams so high that the sack is sweating. __________________

07-15-2010, 03:13 PM	#3
IllTestYourGirls Ah My Balls Industry Role: Join Date: Feb 2007 Location: Under the gold leaf ICQ 388-454-421 Posts: 14,311	How many republicans are in the Senate? __________________

07-15-2010, 04:22 PM	#11
marketsmart HOMICIDAL TROLL KILLER Industry Role: Join Date: Dec 2004 Location: Sunnybrook Institution for the Criminally Insane Posts: 20,419	all you people are stupid.... its not republican or democrat.. its the whole fucking system... when you dumbasses wake up and realize that, maybe we can have some good conversations.... this is exactly the "my side vs. your side" arguments the govt wants you to have.. by arguing over who's right and whos' wrong, you end up losing focus on "the problem" .

07-15-2010, 06:32 PM	#16
SpongeBub Confirmed User Industry Role: Join Date: May 2005 Posts: 470	Let me tell you why this bill will wind up much worse than what it is now - because almost none of the real regulations have actually been written. Just very vague "guidelines" are in this bill. The banks and Wall Street know that when the guys tasked with writing the actual regulations get down to business, away from and forgotten by the public, then they will be able to get exactly what they want, which is basically no regulation at all. Fucked up system we got here ... but still the best in the world.