A community of 30,000 US Transcriptionist serving Medical Transcription Industry

Senate passed Financial Reform Bill about an hour ago

Posted: Jul 15, 2010

I must go look at it now that it passed. There were stipulations that didn't rein in Wall Street but one article I read stated it does that.

"The Senate passed the financial overhaul package in a final vote Thursday, ending more than a year of wrangling over the shape of the landmark legislation. The focus now shifts to the monumental task of implementing the new regulations over coming weeks and months.

The 60 to 39 decision came just before 3 p.m, only a few hours after Democrats cleared a final procedural hurdle by securing enough votes to break a GOP filibuster. The bill now goes to the White House for President Obama's signature."

More here: http://www.washingtonpost.com/wp-dyn/content/article/2010/07/15/AR2010071500464.html?hpid=topnews

;

What does this mean for us - anon

[ In Reply To ..]
I read the article, but I'm not sure how it will affect us.

I just cringe every time I see a mass approval of anything by the democrats. To me all it means is we are going into debt even more. And if it has Dodd or Frank's name on it, we're just screwed no matter what it is - IMO of course.

Here's a site that explains in simple terms. - Backwards Typist

[ In Reply To ..]

This site also links to other sites that you can read. BTW, 3 pubs voted for this.

Oh, and I got confused with some of the info because when I read the bill and checked the amendments, some of the items that failed to pass are items the house.gov states is in there.

http://articles.moneycentral.msn.com/SmartSpending/blog/page.aspx?post=1782327

Scott Brown is getting hammered on his Facebook page. sm - LVMT

[ In Reply To ..]
I'm glad people are seeing through these tools. Thousands of comments today, a handful of them positive. They have shut the comments section off, but they are worth a read.

http://www.facebook.com/pages/Scott-Brown/178795233167

Gee, do ya think he'll be re-elected?. - Backwards Typist

[ In Reply To ..]
...and I thought Spector was bad.

I did notice that a few peple didn't bother, or didn't know, who to research the bill so they would know what's in it before posting their comments.

His next run is not until 2012. - Results will probably

[ In Reply To ..]
depend on whether he makes it past the primaries and who his opponent is, and not just this one issue, ya think? The cons and tpots will have a heck of a time pulling a second magic rabbit out of their bag of tricks in Massachusetts that can outshine SB's meteoric rise to fame. Reminds me of that wise old saying, be careful what you ask for. Maybe it is just payback time for all that insufferable gloating they did after the special election.

You do not seem to be accounting for the possibility that the measure you so strongly oppose just might end up doing some good. The political winds can shift a million times between now and November 2012. Ya just never know.

For every disappointed conservative or tpot he loses, he stands a good chance of picking up just as many if not more centrist or moderate republicans (that would be the rest of the GOP that never gets any sensational media coverage), not to mention independent voters. I think voting his conscience instead of towing lock-step party line or cow-towing to the squeakey wheels is refreshing and very appealing.

Something else he has going for him. Even by 2012, he will not have been in office long enough to be victimized by anti-incumbantitis. By comparison, he will still be that handsome breath of fresh air that stepped out of the Cosmo centerfold...errr, I mean that shiney red pickup truck...whatever. Maybe his shooting star will be a bit tarnished, but he still could easily emerge as Massachusetts' new golden boy, AKA annointed one...just not the species the cons and tpots thought they had all sewn up in their pockets.

Most of them are not his constituents, - sm

[ In Reply To ..]
Go through them, and you've got people from Florida, Texas, Pennsylvania, and Idaho 'screaming' at him. It might be interesting to know what the people he actually answers to have to say about it.

He may actually be that type of politician that everybody on here claims to want...one who votes in the best interest of the people he was elected to represent. Or does everybody just like to say that's what they want when in reality they want someone who toes the party line?

Exactly. (sm) - Nikki

[ In Reply To ..]
The people voted him in, and their opinions are what count. Clearly, there are those who pretend to want what's in the best interest of the people when in reality they want someone who toes the party line.

I'm actually starting to respect him, especially after this vote.

I read all that and I still don't really get what - sm

[ In Reply To ..]
it all means. They always try and make things sound good but I wanna know what is written between the lines that we don't see.

Well, if you know legalize and can spend hours reading - Backwards Typist

[ In Reply To ..]
and love puzzles to figure out correct bill with all the crappy amendments, then you could try the Thomas Law Library. That has it all on line direct; i.e., no comments from the peanut gallery (blogs, MSM, etc.) or try one of the financial sites, but even those might confuse the details.

http://thomas.loc.gov/

The thing that troubles me about this whole - Trigger Happy

[ In Reply To ..]
deal is that now our government is going to take control and make all these regulations to keep wall street in line....and yet politicians, both crats and pubs, have been in bed with wall street for years. Look at Barney and Frank for prime examples of that. So after getting sweetheart loans and deals from wall street....the very same politicians are going to keep wall street honest? That right there sounds like complete crap to me. I'm sure we can all agree that wall street did screw up and big banks were run by greedy CEOs that ran them into the ground.....but politicians had a hand in all of that too.

I just can't put much faith into a government run by politicians who speak out both sides of their mouths.

Excuse my typo - Trigger Happy

[ In Reply To ..]
I meant to type Barney and Chris...not Barney and Frank. Whoops!

What I don't like is it doesn't touch Freddie Mac and Fannie May - Backwards Typist

[ In Reply To ..]
Yet they were the one who concocted the derivitive mortgage scheme along with Wall Street.

I really don't think it does much to reign in Wall Street either. They can still trade in them but not as freely as before.

Why do we need another "Consumer Protection Agency"? We already have one, even though they are too busy playing and not paying attention to business. Double payroll coming up here when they hire people for this new agency.

What really, really, really gets my back up is the government now has a hand in almost every industry in this nation.

This is not regulation, this is government takeover, pure and simple, but done so it sounds like it will help all of us. I'm afraid TV and radio may be next. I'm also afraid for the small, homegrown banks where everyone knows your name. I refuse to deal with large banks, but I'm afraid this law will bog them down to the point they can't survive.

Another nice accomplishment for Obama. (sm) - Nikki

[ In Reply To ..]

Considering the Republicans were threatening to filibuster, this legislation could have even been stronger without Republican obstruction. Hats off to Mr. #41.

Go ahead and flame away.

What are you going to do when - sm

[ In Reply To ..]
govt has totally taken over every major industry in this country? What are you going to do when you can't fart without the permission from the govt behorehand. Yes, that sounds ridiculous but this govt takeover is just that.....ridiculous. If ya'll want a socialist society....go to a socialist country and leave us Americans alone to be free without govt breathing down our necks.

Some of you people absolutely amaze me by how blind you are.

Now I understand how charismatic dictators gained control while people stood dumbly by and let it happen until it was too late.

Now hear this. - sm

[ In Reply To ..]
The democratic party is not synonymous with the socialist party. We can walk and chew gum at the same time. That is to say, our political ideologies can be held within the context of supporting a free market and/or captalist economy as opposed to a socialist economic system, about which you appear to have no clue.

I am going to say this for the second time this week. We live in a democracy where socialists are allowed outside the closet, enjoy Constitutionally protected rights of association, can congregate, form political parties, run for office, be elected and serve...rights they share right along side the KKK, John Birchers, tea partiers, conservative wingnut fringers, etc.

Democrats and socialists belong to distinctly separate parties, the same way the above named extremist groups and the GOP do. They are not one in the same. Go sing to your choir. They are the only ones who will lend a single ounce of credence to your gloom and doom predictions and (your word, not mine) ridiculous low level declarations.

Wonderful post. Thanks. (nm) - Nikki

[ In Reply To ..]
:-)

You lost all credibility at the moment you (sm) - Nikki

[ In Reply To ..]

implied that I was somehow less of an American than you, simply because I don't agree with YOUR personal political opinion. It's blind, stupid judgments like this that's one of the reasons this country is so divided.

"Not like the brazen giant of Greek fame,
With conquering limbs astride from land to land;
Here at our sea-washed, sunset gates shall stand
A mighty woman with a torch, whose flame
Is the imprisoned lightning, and her name
Mother of Exiles. From her beacon-hand
Glows world-wide welcome; her mild eyes command
The air-bridged harbor that twin cities frame.
"Keep, ancient lands, your storied pomp!" cries she
With silent lips. "Give me your tired, your poor,
Your huddled masses yearning to breathe free,
The wretched refuse of your teeming shore.
Send these, the homeless, tempest-tossed to me,
I lift my lamp beside the golden door!"

My guess is that the Statue of Liberty is unAmerican to you, as well.

Hats off to pubs who had the nerve to - think outside the box as well ! nm

[ In Reply To ..]
nm

Similar Messages:

May 21, 2010
Hopefully, when the Senate and House blend the bills, it will truly be good for the country. Only time will tell. I noted that 3/4 of the amendments were not introduced or voted on in the Senate. WASHINGTON - Prodded by national anger at Wall Street, the Senate on Thursday passed the most far-reaching restraints on big banks since the Great Depression. In its broad sweep, the massive bill would touch Wall Street CEOs and first-time homebuyers, high-flying traders and small town lenders. T ...

Jun 30, 2010
They've gutted the House financial reform bill and Bernie Sanders if furious. It doesn't help the consumer. It doesn't do much more than what was already in place before the bailouts; i.e., why did they even bother? All they did was waste time. Please see articles below. Financial Reform Bill: Bonfire of the Loopholes: http://www.newsweek.com/2010/05/21/bonfire-of-the-loopholes.html?from=rss”>%20Newsweek Reform Without Punishment: http://www.newsweek.com/blogs/t ...

May 06, 2011
I just thought I would start a contraversial topic before I take off for the day. I'll be back later to see the ruckus. LOL. ...

Dec 11, 2009
Thoughts on the bill passed in the House today? Too little, too much? I think it's a good step but there are no guarantees Big Business won't find loopholes. In fact, I'm quite sure they will try. In the meantime, however, it sends a good message that we will be watching. I'm also sure the senate will take months with this. Will that lead to a watered-down version? I guess it depends on how hard the constituents press their elected officials. NJ ...

Jul 18, 2010
I have been reading articles on what is, and what is not, included in this new law. Not a single article agrees this is real reform. It still gives Wall Street (SEC) and big banks the freedom to do what they want. This is not good. It's what I've been saying all along. The idea of financial reform was supposed to stop the abuse, but it may give the above more free rein in what they do. I'm posting one article from MSNBC. Please be sure to read the ful ...

Jun 24, 2010
Dylan Ratigan is freaking out of the changes Chris Dodd and Barney Frank are trying to make to this financial reform bill: The long-awaited showdown between banks and Sen. Blanche Lincoln over her derivatives reform section of the Wall Street bill begins Thursday. The conference committee will consider an offer made by the House to amend Senate legislation that forces banks to spin off their swaps desk and separately capitalize that operation, while also bringing the business out into the open, ...

Sep 04, 2012
DNC must be proud. Obama must be thrilled about that. Gee, debt couldn't wait until after the convention, could it? ...

Feb 02, 2010
Nine months after he penned a memo laying out the arguments for health care legislation's destruction, Republican message guru Frank Luntz has put together a playbook to help derail financial regulatory reform.In a 17-page memo titled, "The Language of Financial Reform," Luntz urged opponents of reform to frame the final product as filled with bank bailouts, lobbyist loopholes, and additional layers of complicated government bureaucracy."If there is one thing we can all agree on, it's ...

Jun 14, 2010
She is so much like her Mom!!! I bet she shocked some people at Faux! Barbara Bush, daughter of president George W. Bush, appeared as a guest on "Fox News Sunday" this week to discuss her non-profit Global Health Corps, whose mission is to bring health equity to the U.S. and Africa, and she made some comments that surprised host Chris Wallace. "Why do, basically, people with money have good health care and why do people who live on lower salaries not have good health care?" Bush ask ...

Jun 27, 2013
Don't think it will pass the House. Border security is NOT first in this bill and Janet Napolitano is the one who will make the decision on whether the border is secure or not...and we all know she thinks it is secure...that's why they never finished the fence. Yet the border agents are saying it's not secure and....well, if it WAS secure, how did 11 Million illegal immigrants cross it? This bill also sets limits on ag workers, lower than what it is now. BTW, vote was 68-3 ...

Sep 04, 2013
with one "present" vote, authorizing limited miltary action. It authorizes up to 90 days of military action and bars troop deployment. The White House is required to send lawmakers a plan for diplomatic solution to violence in Syria within 30 days of resolution enactment. They rejected Rand Paul's effort to impose further restrictions on the War Powers Act by a 14-4 vote. http://www.washingtonpost.com/world/national-security/officials-press-lawmakers-to-approve-syria-str ...

Dec 15, 2011
could now be in even greater jeopardy of being arrested and imprisoned indefinitely, with no right to a trial? Pretty scary. And note, this is neither a Repub or a Dem issue, this is an issue that goes against the Constitution. Apparently at the last minute, it's being realized that language was taken out of the original bill, clarifying that US Citizens could not just be swept off the streets and imprisoned without due justice and a trial. Now the ABSENCE of that pa ...

Jan 07, 2015
Score 1 for Dodd-Frank and one goose egg for Congress. ...

Mar 10, 2011
I spent the last few hours reading it (I really hate legalese-LOL) then did a search on collective bargaining. I did see where they wanted to tie raises to the CPI but can't find it now. Anyway, the pages that I found CB in the search are: Pgs. 955-964, 998, 1045, 1061, 1312, 1332-1334. So, tell me where they are stripping collecitve bargaining from the unions. Fair question. ï»¿http://legis.wisconsin.gov/2011/data/AB-40.pdf ...

Mar 06, 2013
Republicans passed it. Democrats were against it because it still included the $85 billion sequester dollars. "The Senate isn't going to accept this bill," Senate Minority Leader Nancy Pelosi (D-Calif.) said during debate. Despite Democratic complaints, the House passed the bill easily in a 267-151 vote in which 53 Democrats supported it, likely because it will help avoid a government shutdown. Just 14 Republicans voted against it. Dems wanted Sequester, now they don't! ...

May 15, 2011
I'll admit that I really have never understood what the Health Reform Bill is supposed to do, but I thought this summary was interesting. http://www.huffingtonpost.com/2010/03/22/health-reform-bill-summary_n_508315.html#s75147&title=An_End_To An End to Pre-Existing Conditions---which certainly would benefit me. Small Business Tax Credits for business with fewer than 50 employees will cover up to 50% of employee premiums---my family business will benefit from that one. No Lifetime Ca ...

Mar 25, 2010
nm ...

Aug 02, 2013
Before going home for a month of vacation for summer recess, the House has passed their 40th bill to repeal or dismantle Obamacare. Fortieth bill! Why? I guess because they thought that was a good use of taxpayers' money, passing yet another bill that would go absolutely nowhere, and maybe that the Democrats had just overlooked the first 39? Yes, of course they know it's a waste of time and money, but they are willing to spend all that time and all that money to ...

Oct 20, 2009
Senate Health Bill - 1502 pages "It's important to remember that the bill won't exist in this form for long. Senate Majority Leader Reid and Sens. Max Baucus and Chris Dodd along with senior White House aides are merging the Finance and Health Committee legislation into one bill that will be considered on the floor of the Senate. The behind-closed-doors dealings have drawn criticism from Republicans, particularly because President Obama had promised a transparent process and ...

Mar 29, 2010
(As you can see, this was not a Democratic initiative. So much for Democrats banning Republican ideas.) By Gavin DahlSunday, March 28th, 2010 -- 4:57 pm Buried in the landmark health care bill passed by Democrats is $250 million over 5 years for state programs to try to convince young people to wait until marriage for sex. Proponents of abstinence-only education are thrilled, but there is little evidence this money will be effective in fighting pregnancy or HIV. "We're very happy to see ...

May 16, 2010
bipartisanship. Pubs practicing more obstructionism ...

Dec 14, 2012
This is beyond insane. I am speechless. Perhaps they should add hospital nurseries to that list. http://www.emptywheel.net/2012/12/14/the-day-before-gun-rampage-in-elementary-school-mi-passes-bill-allowing-guns-in-schools/?utm_source=rss&utm_medium=rss&utm_campaign=the-day-before-gun-rampage-in-elementary-school-mi-passes-bill-allowing-guns-in-schools The Day Gun Rampage in Elementary School MI Passes Bill Allowing Guns in Schools Posted on Decem ...

Jul 06, 2017
The governor is expected to sign it into law. It gives every women in Oregon free abortions, paid by their health care provider (wonder how many will pull out of Oregon now). Insurance companies in Oregon would be required to cover abortions and other reproductive services at no cost to the patient regardless of income, citizenship status or gender identity under a measure approved Wednesday by lawmakers. The Oregon bill is unique in that patients would have access to the procedur ...

May 24, 2014
It's going to a committee. Why? Do they really need to study this bill? It's very simple. Why this bill should become law: The bill would give the VA Secretary greater authority to fire employees and remove them from SES service due to poor performance in the same manner a Member of Congress can remove a member of their staff. The bill would require the VA Secretary to give the Senate and House Veterans’ Affairs Committees notice of removal within 30 days of removing an indi ...

Jan 01, 2013
Fiscal Cliff Bill Heads to House for Approval "It shouldn't have taken this long to come to an agreement, and this shouldn't be the model for how we do things around here," said Senate Republican leader Mitch McConnell, who negotiated the agreement with Vice President Joe Biden. By ANDREW TAYLOR | Tuesday, Jan 1, 2013 | Updated 5:02 AM CST Getty Images U.S. Vice President Joe Biden arrives for a closed-door meeting with Senate Democrats to urge ...

Apr 06, 2013
The bill will be brought to the voters. Montana Senate is Republican majority. "HELENA, Mont (Reuters) - Over loud objections from Democrats, Montana's Republican-controlled Senate on Friday voted to put proposals on the 2014 ballot that would tighten voter registration and restrict the rights of third parties to compete in general elections. The measures, which are expected to be approved by the Republican-majority House, do not need approval from the Democratic governor. The ...

Dec 21, 2009
By The Associated PressMonday, December 21st, 2009 -- 8:55 am DAVID ESPOAP News Dec 21, 2009 07:22 EST Health care bill backed by Obama clears key Senate test on party line vote Landmark health care legislation backed by President Barack Obama passed its sternest Senate test in the pre-dawn hours early Monday, overcoming Republican delaying tactics on a 60-40 vote that all but assures its passage by Christmas. "Let's make history," said Sen. Tom Harkin, D-Iowa, shortly before the b ...

Jan 22, 2010
By Daniel TencerThursday, January 21st, 2010 -- 2:29 pm Dems mull reconciliation to push through reforms: report House Majority Leader Nancy Pelosi says there aren't enough votes in the House to pass the Senate version of health reform, but what that means for the future of health reform is far from clear. "In its present form without any changes I don't think it's possible to pass the Senate bill in the House," Pelosi said after meeting with the Democratic caucus on Thursday, ...

Feb 28, 2014
"With Democrats pressing for passage this week, Senate Republicans, backed by their leader, Mitch McConnell, attempted to attach controversial legislation calling for possible new sanctions on Iran that President Barack Obama opposes." "The legislation had the backing of most veterans' organizations, but was doomed by deep disagreements between Democrats and Republicans that have made this Congress one of the least productive in decades. Sanders, an independent who caucu ...

Jun 23, 2016
that would have blocked people on the no-fly list from getting a gun. It was also defeated. ...