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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:15 PM
Original message
US House passes historic Wall Street overhaul
Source: AFP

WASHINGTON (AFP) The US House of Representatives gave its final approval Wednesday to the biggest overhaul of Wall Street rules since the Great Depression of the 1930s, leaving the landmark bill in the Senate's hands.

Lawmakers voted 237-192, largely along party lines, for the compromise legislation that President Barack Obama has made his top domestic priority -- and a weapon for bludgeoning his Republican foes ahead of November elections.

The US Senate was expected to take up the measure after the week-long July 4 recess, amid an 11th-hour hunt for the 60 votes needed to ensure passage over any Republican parliamentary delaying tactics.

"The party is over, no longer again will recklessness on Wall Street cause joblessness on Main Street," Democratic House Speaker Nancy Pelosi said shortly before the vote.


Read more: http://news.yahoo.com/s/afp/20100630/bs_afp/usfinanceec...
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arcane1 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:32 PM
Response to Original message
1. Potentially stupid question:
What's the fucking point of "compromise legislation" if the vote is going to be "largely along party lines"? Aside from letting the "no" voters get what they want, while still being able to tell their constituents they voted "no", of course.
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GOPNotForMe Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:35 PM
Response to Reply #1
3. My guess
Is that it's a compromise between more aggressive reform supported by progressives and liberals and more bank- and corporate-friendly reform supported by "moderates", conservadems, and Blue Dogs, etc. In other words, the usual two factions of the Democratic Party.
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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:41 PM
Response to Reply #1
6. Here is the
Roll call

Three Republicans voted for the bill. Kucinich voted for the bill. In fact, except for Lynn Woolsey, who didn't vote, and Marcy Kaptur, who did, the entire Progressive Caucus voted for the bill]. The no votes among Democrats were from mostly blue dogs.

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GOPNotForMe Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:34 PM
Response to Original message
2. Self-delete
Edited on Wed Jun-30-10 06:35 PM by GOPNotForMe
Posted wrong. Oops.
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Angry Dragon Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:36 PM
Response to Original message
4. The democrats need to start drawing lines in the sand
They seem afraid of the republicans.............
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bemildred Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:38 PM
Response to Original message
5. Repealing Glass-Steagal was the biggest overhaul since the depression.
This is more like moving the deck chairs around on the Titanic.
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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:45 PM
Response to Reply #5
7. Actually,
Edited on Wed Jun-30-10 06:46 PM by ProSense
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bemildred Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:49 PM
Response to Reply #7
8. So you agree that repealing Glass-Steagal was a big deal?
And this just reinstates it, among other things?

Do you think that we are out of the woods yet, economically speaking, or just closing the barn door after the horses have run off?
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FarLeftFist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:52 PM
Response to Original message
9. Compromise is when neither side gets what they want.
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Tarheel_Dem Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-01-10 12:08 PM
Response to Original message
10. "The party is over"......Thank you Nancy.
:kick:
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Cal Carpenter Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-01-10 12:18 PM
Response to Original message
11. 'Historic', my ass
This fucking divide-and-conquer dog and pony show is getting real tired.

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