Well this is hopeful, but doubtful that it will work. The banks will just find loop holes and do what they want anyways. I'd rather start keeping my money under and mattress than let them use it. Damn crooks.

I agree 100%. BO's answer to it all is government regulation. All we need is more and more government in our homes and lives. I, along with a lot of others, will be pretty glad when 2012 gets here. I still feel the 2010 elections will hold many surprises.

It seems that no one can see through the "news" media's simplistic regulation verses deregulation illusion. If you want to know more about this bill, see http://dailycensored.com/2010/05/07/dodds-financial-reform-bill-is-a-black-hole/

This bill is not what the "news" media or the politicians claim. It is designed to crush the economy and consolidate power in the hands of Wall Street and the Big Banks.

Mo crack from President Crackhead.

I am so glad the enocomy is get better. I watched CSPAN yesterday cause I was tired of listening why on earth another crackhead liberal managed to get Murtha's sit, are we just abunch of ghetto crack smokin crackhead Gubba'mint chEeZe eatin Obama Zombie's..... anyway there was 4 Socialist liberal Commi Pigs in the Capital building, 40,000 sq feet, just the four of them at podiums, no one else in this huge empty building and they are sitting there telling each other how wonderful things are. it's the G/D Twilight Zone, Are you friggin kidding me my state is over 13% unemployment. Thats 15,000,000 million people without jobs............................ Today at work, I am eating lunch reading the news paper and I read we are losing 470,000 jobs ever G/D week now get this last week I read how we are saving or creating 172,000 jobs per MONTH is this the friggin good news Jesus H Christ. Isn't there anybody in the Democratic Party that aint on the crack.

When the country is loosing 2,000,000 jobs per month and the Politician are patting themselves on the back, all you can say

" its gotta be da crack " crack is whack

Everytime the economy looks like it is starting to get better these idiots in Washington pass another bill to "punish" wall street. Wall Street and Main Street are connected, if you hurt one you hurt both, I think this Congress and our President need to go before they wreck the entire economy and cause an economic downturn that we may never recover from.

So you Republicans tell me what your politicians would do to take care of this problem. Let's hear it. I'm waiting. You had 8 years to do something and did nothing.

You Repubs had 8 years to handle this problem. You did nothing but made it worse. You aren't happy with this attempt to control the bastards who caused this mess so please tell me what your solutions are. Lay it out for us.

Actually the economy was doing ok until congress began increasing minimum wage every year, people stopped hiring, groceries and utilities went up and everyone had less money after bills.

They had their chance to do something about Fannie Mae and Freddy Mac, but Dodd, Frank and others were too busy lining their pockets to consider any reform.

Bigger government is not the answer nothing is to big to fail not even FANNIE AND FREDDIE... The founders had much wisdom they wanted LIMITED federal government they are rolling over in their graves right now.

Obama Pelosi Ried got control of Washington in 2006 the unemployment rate was 4.7% and the DOW 14,000

What would I do? unwind all the job killing bill they have passed cut Gubba'mint cut the budget cut cut cut and make the Bush tax cut permanent. Level the playing field between Big Corp. and Big Unions

They called the depression in the 20's the "Great Depression" - what will we call ours? The typical attitude of government employees, is to find a way to keep their job. So, the best way to do that, is to keep making up new laws, that can easily be skirted around, so they have to make more new laws, so THEY can be skirted around, causing them to make new laws. Job security, that's what it is. All the financial ills in this country could be avoided if we didn't have such a HUGE government, with all their special perks, salaries and pensions. Make government smaller, and make them subject to the same taxes, medical coverage and Social Security we use. You're going to vote more fairly for everyone if the same applies to you.

Jern- see my comment below. I have been in the food industry for over 30 years. If you think the FDA is somehow protecting the food supply, you are far from the truth. Its the private-sector food industry that is protecting you, not the FDA. Food companies would be foolish, and soon out of business, if they used "harmful chemicals" in their food products. The FDA is ALWAYS way behind the curve, and private sector food industry identifies and solves their problems before the FDA even figures out what the problem is.

William,

Why is the private sector food industry on top of problems with their products? Maybe it's because there's an unoffiliated (some what) government organization acting as a watch dog? Doesn't mean it's perfect- same goes for this bill, and it doesn't mean mistakes aren't made- same goes for legislation in general, and it doesn't mean all companies are out to poison their customers- just like some companies are capable of responsible trading. What it does mean is that there are serious repercusions when someone/some company steps out of line. And it does mean that there are more resources and coordination being used to this end than any one person or faction could muster in time to save lives in the event of a blatant violation. That is exactly what this bill is aimed at doing! Food poisoning is in the top ten causes of death in China because they don't have nearly the same level of oversight. Show a little pride and a little gratitude for your country!

Jen,

You sure are right about more resources being used! Please do tell us about all the good that has come from past federal regulation of the banking and financial markets. This bill does nothing more than create a larger bureaucracy while keeping control in the same inept hands. We are well on our way to regulating ourselves into another Great Depression! It took WWII to get us out of the last one....Ya think maybe Obama can start a war with Iran to turn this bout of bungling around?

Jen maybe you can tell us why Fannie and Freddie are excluded from this bill?? These two are the biggest reasons for the housing collapse and yet not one thing to regulate them.. Wonder why that is??

All the private sector banks that received bailout money have paid it back. Only Freddie Mac and Fannie May, quasi governmental banks that cater to the liberal agenda and who have made major contributions to the Democrats (Obama being at the top of their list, along with Dodd and Kerry), have not paid it back and probably never will. And I guess you dont understand that "calling Wall Streets bluff" will cause innumerable companies to go into bankruptcy, cost tens of thousands of jobs, and cost millions of Americans all the money they have put away for retirement. Nice plan.

I would like to hear your recommendations? From your post it sounds like you want to see wallstreet and the bank sectors do whatever they please and just hope every thing turns out okay. If I'm wrong and you honestly have some solution to this economic disaster let's hear it?

It's always easier to tear something down, rather than build something new. It seems like that has become the Republicans standard operating prochedure lately. I don't care if your Republican, Democrat, or Libretarian- right now I'm for any party that's willing to do something to make positive change!

Then vote for me. Separate banking and investing. Put a cap on the usurous rates the banks can charge. Outlaw the variable rate mortgage. Do not allow banks to issue their own credit cards. The Dems are putting hundreds of thousands of Americans retirement at risk. Almost all unions have money invested in stocks, and mutual funds for pensions, as well as corporations that fund pensions. Write the law, and let the sec apply it. We don't need 20,000 more govt workers.

Who dug the hole? You got your facts confused.

For the truth, you need to go back to the 40's. Every congress has added to, in some way, the mess. Lawers aren't bankers, so they really don't know; they rely on bankers. So the fox gets into the hen house. The one time congress needed to listen to experts, they kept the doctors out.

Remember congress writes the laws, not the president, though he can reommend. And when, like obama, he has a majority , he can often get what he wants.

The big market crash will start around aug., 2012

I hate to break this to you, but the current administration didn't create the mess we are in, and the jury is still out on whether or not it can make things any better. I'm not a rabid Obama fan or hater, but to say that this is the first administration and congress to play the back pocket game indicates either a serious lack of knowledge of American history or the worst case of head in the sand denial I have ever seen. Do you think for one minute that unchecked, businesses will "do the right thing because it's the right thing to do" when faced with choosing profit over the consumer's welfare? If so, I've got some ocean front property to sell you here in Phoenix.

How the hell is our system unregulated? Everything is regulated in some degree...perhaps that might be why we are in the hole we are in...on top of the housing crisis brought on by Bill Clinton and his subprime mortgages...

Oh no, lou 1694575. We were regulated early in our history until "Uncle Teddy" decided that the costomer would be beftter off with "DEREGULATION". We were promise super service and lower prices, well have you flown recently. We once had a choice of 10 or 15 vivable air lines, now we have a choice of deterants service, lack of coordination and a choice of flying at great expense and very liminted schedule. This country has been set back 221 tears by the "GAMBLERS". Every industry that is in existence now has to compete with the "CORPORATE CROOKS" has at put our industrial exsitence in jeopardy. All of our Indusrties have been operating as though there never was any regulation, restriction, or even and ethinical behavier.

All you should have paid attention to those jobs that were low pay that our corporations forced us to take as, it enabled them to bribe oiur political system from the top down. Take a good look at the jobs that went to the illigals by our Meat Industry, (CONAGRI) or look at the farming industry that is controlled by (CARGILE) or processed foods (BIRDSEYE, GREEN GAINT, DELMONTE, LIBBY) these are home grow fruit and vegatables that are grown here in America, picked by machine and transported from US soil to MEXICO for processeing and the packages sent back acrossed the border for our consumpsion.

Think, Ever since 1999 with the Banking DEREGULATION and the repeal of the GLASS/STEAGAL ACT of 1933, we have allowed our banks money to be used by the "CORUPT GAMBLERS of the Investment Industry. They created not one tangable resource except a way to "FLEESE" you out of you money. But you "STUPID JERKS" are protective of what you feel you are going to lose that you don't write, phone or email your voice. I have for over 30 years squawked about "DEREGULATION" One sorryful event was John McCain lobbing the Commerce Dept to allow a German firm to by out AirBourne Express and to rename it "DHL" after two years DHL shut down operation throwing 14,000 Teamster out of work in Ohio and every state they served.

The "DIRTY WORK" is just beginning as this so called Financial Reform Bill is a sham and it will cripple this nation once again.

Mo crack from President Crackhead.

I am so glad the enocomy is get better. I watched CSPAN yesterday cause I was tired of listening why on earth another crackhead liberal managed to get Murtha's sit, are we just abunch of ghetto crack smokin crackhead Gubba'mint chEeZe eatin Obama Zombie's..... anyway there was 4 Socialist liberal Commi Pigs in the Capital building, 40,000 sq feet, just the four of them at podiums, no one else in this huge empty building and they are sitting there telling each other how wonderful things are. it's the G/D Twilight Zone, Are you friggin kidding me my state is over 13% unemployment. Thats 15,000,000 million people without jobs............................ Today at work, I am eating lunch reading the news paper and I read we are losing 470,000 jobs ever G/D week now get this last week I read how we are saving or creating 172,000 jobs per MONTH is this the friggin good news Jesus H Christ. Isn't there anybody in the Democratic Party that aint on the crack.

When the country is loosing 2,000,000 jobs per month and the Politician are patting themselves on the back, all you can say

" its gotta be da crack " crack is whack

What consumer is going to buy food they consider dangerous?

Really?!? What consumer smokes cigarettes even though they know it's dangerous? Enough to give the tobacco industry a great deal of influence over our congress. Need more examples? McDonalds, Taco Bell, KFC (double down anyone?) Diet Coke, tanning beds, this list could go on and on... Food companies, oil companies, tobacco companies, Wallstreet bankers...don't care. They operate to make as much profit today, at whatever expense, because humans like all other animals will continue to procreate. So what if the next generation is a little slower, fatter, dumber that's just more profit for the CEOs.

The simple fact is that the government that is influenced by the deep coffers of big business is not interested in regulating industry effectively.

Kenneth- I bet you are a govt employee, or a teacher, or a personal injury lawyer, or a liberal politician, or a writer, or someone who does not actually have to produce a product to get by. Autos create pollution and are often found to be unsafe, construction jobs are dangerous, utility companies pollute and gouge customers, chemical companies pollute and subject their employees to toxins, oil drilling is anti-environmental, coal mines are clearly dangerous, xray technicians are subjected to radiation, etc. By the time you get done, our unemployment rate will be 50%, and the Great Depression will be like a boom period to this country. And you seem to think that CEO's are the only ones who profit from capitalism. The fact is that a significant amount of stock in companies in today's day and age are held by pension plans, retirement plans, and 401k plans for ordinary working Americans. But, I guess in your America, people wont have jobs (other than govt jobs) so they wont be able to put any money aside for retirement.

Actually, do some reading please, The bailout money has been being paid back with interest. A good portion of the companies that took bailout money have paid or are paying it back. So what is your main complaint?

How much has fannie and freddie paid back, please find out. they robbed tax payers of the most mainly to pay odumbos campaign lies, barney and dobbs, and majority of democrats campaign funds. They got the most and have returned none, this regulation does nothing to them. This regulation gives odumbo power to blackmail banks and investment organizations keep their campaigns funded or government can liquify. Great incentive. Only think this administration and congress care to do is socialize what once was great country. Crooked fascists

reread my post, I said a good portion of companies have or are paying back that money. Do your own research, and stop talking like an idiot.

The reason european countries are broke is socialism doesn't work. They have more government workers than private, they promise great retirement funds and health care, and everything else, but they don't produce, they don't export so they have no income to pay all these government employees and benefits, so they are in the same position united states is we're just couple years behind, do you recognize? By the time odumbo ends his term we will have the same revolts in the streets as greece, because people can't live with spocialism especially when they have had freedom!