What a day!!! President about to speak

[malaise]

Finance reform bill passed
Something huge coming down from SEC in a few minutes
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8755085

Rove stupidly accuses Dems of lying about Bush/Cheney lies about weapons of mass destruction

BP gusher supposedly not gushing anymore
-----------------
Looks like a big fucking deal.

[mdmc]

1. Anything decent in that Wall Street reform?

[Spazito]

2. Decide for yourself...

Here are some details that may help in your forthcoming analysis:

http://www.demos.org/publication.cfm?currentpublicationID=D76A0215%2D3FF4%2D6C82%2D54D0DC200FBAA697

[Richardo]

3. Thanks for that link!

:toast: :patriot:

[malaise]

4. The bill is not perfect, but

it will bring greater security to American consumers, investors and Main Street businesses. Most importantly, it turns the page on an era of misguided deregulation that has cost Americans 8 million jobs and trillions in lost household wealth. Demos has contributed to the reform effort with policy analysis and advocacy on three major issues:
------------
Correct

[mdmc]

9. I have a couple of buddies on Wall Street - they sent me the same link

It makes no sense to me - they think the reform is pretty meek and mild (they love it more or less)..

They bottom lined it for me - it is not more de-regulation. It is regulation.

Is that about right?

[Spazito]

13. LOL, in a word, no, Wall Street doesn't love it but I think you know that...

It is definitely regulating which, to Wall Street, is NOT a good thing.

I hope you don't depend on others to decide for you what this means and, instead, do your own homework, buddies' take or no because, imo, it tends to render greater credibility than if the poster just relies on "a couple of buddies on Wall Street".

[mdmc]

19. With this - I take their opinions - it is over my head..

It really makes no sense to me and I have no time to learn.. Plus, it really doesn't matter to me - Wall Street execs will continue to make cash while I continue to struggle to pay for housing and medical treatment.

My Wall Street buddies all voted for Obama..

[Spazito]

22. Well, if all your buddies voted for Obama and they like this bill...

then you should feel comforted in that they, according to you, like the bill. They are, after all, supportive of Democratic beliefs if not Democrats themselves!

It is unfortunate, to me, when one allows others to tell them what to 'think' about important issues like reform but, hey, to each their own.

[mdmc]

24. Honestly, I think most people do what I do (most people)

I think most people vote (only half of the population votes) along party lines. If I don't know the candidates or the situation, I usually vote the line.

If I get more data I can always change my opinion.. With this - it is over my head - I don't understand and don't seem smart enough or motivated enough to learn. My buddies breath this type of stuff and I trust their thoughts..

I do know a great deal about other stuff, just not how to make a buck (the financial scene)..

[Spazito]

25. Fair enough...

I would not tend to trust, without reservation, anyone who works on Wall Street even if they were close buddies because, even close buddies, when it comes to their livelihood, don't always tell the full story.

[mdmc]

20. thanks for that link

peace and low stress..

[Warpy]

5. It's a mixed bag that failed to address huge systemic problems

and didn't reaffirm Glass Steagall. IMO, until and unless that is done, we'll continue to see banks taking dangerous risks with our money and needing periodic bailouts.

The quick and dirty while-you're-on-the-can version is at http://www.msnbc.msn.com/id/38258047/ns/business-stocks_and_economy?GT1=43001

[malaise]

6. I wanted to see Glass Seagall as well

but something is better than nothing.

[Spazito]

14. You do agree, don't you, that it is definitely better than the status quo?

Perfection, it is decidedly not, progress, absolutely, imo.

[Warpy]

16. Oh, HELL yes

I think it's a great start but it needs to be followed up by the kind of regulation that will put the thieves out of business permanently. Or until a new generation of gullible fools falls for the deregulation scam.

[Spazito]

23. We are in full agreement, this is only one piece of the puzzle that, when finished'...

will have in place the regulations needed to bring back a healthy balance in finance, mining, oil drilling, etc. I think it is a very good start and will be followed by more regulations such as those being proposed re oil drilling and having a moratorium on deep water drilling until such regulations are in place is but another piece in place.

[Ignis]

26. Agreed on G-S; that's really a huge gap in the "teeth" of this reform.

I'm fairly excited about the creation of a lending consumer-protection bureau, but I'll hold off cheering until we see how the execution of that idea pans out.

But at the end of the day, looking back over the past three decades, anything that regulates Wall Street is progress. :thumbsup:

[malaise]

7. Obama on now - on GEM$NBC n/t

[spanone]

8. k&r for President Obama

and the passing of legislation the rethugs would have never even brought up......they wouldn't have touched it with a ten-foot pole. they would have REMOVED any remaining restraints.

[malaise]

11. Obama is a genius

He refused to comment on the gusher not leaking anymore. Says they are testing and he'll comment tomorrow.

[nadinbrzezinski]

10. And Boehner is already whining

and promising repeal...

Why we need to hold noses, if necessary.

[malaise]

12. He's fried his brains on those

tanning machines

[malaise]

15. SEC Presser coming up

http://www.sec.gov/news/otherwebcasts/2010/071510pressconference.shtml

[DevonRex]

17. K&R malaise. Thanks. nt

[Scurrilous]

18. K & R

:thumbsup:

[EmeraldCityGrl]

21. K&R...something to build on.