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Ear to the Ground

Obama Makes Financial Overhaul Official

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Posted on Jul 21, 2010
Wall Street flags
AP / Mark Lennihan

Flags were flying April 22 on Wall Street in front of the New York Stock Exchange, and on Wednesday, Washington weighed in with new financial reforms.

It remains to be seen whether the new financial reform legislation that President Obama signed into law on Wednesday will spare us another economic cataclysm like the recession we’re still in, but for his part, the president seems jazzed about it. Same with Barney Frank and Christopher Dodd, whose names both appear in the bill’s official title. —KA

“Political Intelligence” in The Boston Globe:

Coming nearly two years after the bank bailouts of 2008, it is the Democrats’ centerpiece response, intended to prevent another credit and mortgage crisis like the one that caused the stock market meltdown and current economic recession.

“These reforms represent the strongest consumer financial protections in history,” Obama said, just before he signed the bill. “There will be no more tax-funded bailouts. Period.”

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By SGater, July 22, 2010 at 8:32 am Link to this comment

There just never seems to be any good news these days!

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By Big B, July 21, 2010 at 1:36 pm Link to this comment

Without the re-instatement of Glass-Stegall, this act is just more meaningless, copitulating, bullshit from prez Barry and his cadre of Clintonite scum.

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By diman, July 21, 2010 at 12:55 pm Link to this comment

Futile, since the gold standard will not be introduced and The Fed will not be abolished.

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By Flummox, July 21, 2010 at 11:19 am Link to this comment

Obama appears “jazzed” about it? Of course he does. He wants to tout this as a major accomplishment in an effort to keep he and his Democratic colleagues employed. No matter how poor the bill turns out to do its job Obama is going to appear “jazzed” about it.

This article is one of those “dog bites man” stories that are only allowed when it comes to establishment journalists doing their part to prop up the status quo.

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By NYCartist, July 21, 2010 at 10:54 am Link to this comment

Have I missed it on TD?  Where are the articles on Lynne Stewart being resentenced to ten years due to political pressure by judiciary? See
http://www.blackagendareport.com
and
http://www.lynnestewart.org

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