The Problem Are Those Who Will Be In Charge Of Regulatory Overhaul Of Wall Street

Historic financial bill passes Senate

It isn’t common sense rules that disturb people, it’s those who will be in charge of interpreting what they believe common sense to be. Everything that has happened has been allowed by the career politicians who’s have their hands  in the pockets of the “too big to fail”.  So  now we’re suppose to trust them?

The 1,500-page measure, shepherded through the Senate by Christopher J. Dodd (D-Conn.), chairman of the banking committee, seeks to reshape both Washington and Wall Street.

No way on earth that anyone with common sense could be happy with Chris Dodd. He doesn’t have the people interest, he’s working on helping his “too big to fail” friends out. This is his last gift to his friends before leaving.

Biggest Regulatory Overhaul of Wall Street Since Depression Moves Closer to Law

Empower the Federal Reserve to supervise the largest, most complex financial companies to ensure that the government understands the risks and complexities of firms that could pose a risk to the broader economy.

The same Federal Reserve that wont allows us to look at their books? We will just give them more empowerment? This could only  seem reasonable to those that will benefit from their actions.

Allow the government in extreme cases to seize and liquidate a failing financial company in a way that protects taxpayers from future bailouts.

You mean allow them to pick winners and losers, right? I have a suggestion, no more bailouts!

• Give regulators new powers to oversee the giant derivatives market, increasing transparency by forcing most contracts to be traded through third-parties instead of only between banks and their customers. Derivatives, which are complex financial instruments, are often used to hedge risk. Speculative trading in the contracts led to losses at many banks in the 2008 crisis.

Shouldn’t they have already been doing this prior to the  bailouts, how convenient of them now to think this way.

“Simply, the American people are saying, ‘you’ve got to protect us,’ and we didn’t back down from that,” said Senate Majority Leader Harry Reid (D., Nev.). “When this bill becomes law, the joyride on Wall Street will come to a screeching halt.”

Harry Reid is another of the many geniuses working on our behalf. With his soft-spoken words he can’t be trusted and hopefully he could go back to the private sector soon. I’m sure that with all his connections he will continue to live quite fine even if it isn’t off the backs of Americans who he claims to be serving.

How can a rational thinking person believe any of these career politicians. All of this could have been prevented if they would have been paying attention and doing their jobs. What we should have done was allow the “too big to fail” to go under. All the Billions in bailouts and the economy is in the same shape that it was in before the bailouts.  The only improvement has been for the “too big to fail” If every citizen would have been bailout, they would be doing fine also.

Anytime I hear these people speak, it drives me crazy. They are all crooks. They have way too much power and basically do as they please. Hopefully when they go up for re-election we could send them a message. Go home, you have done enough damage already not only for my generation but for my children and grandchildren as well.

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