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financial regulations
As Democrats Trumpet Financial Reform, GOP Targets 'Obamacare'
By Jill Lawrence - Politics DailyDemocrats call it Wall Street reform to protect Main Street from greed and economic trauma. Republicans call it a job-killing, overpriced morass of regulation. With passage of the financial-regulations reform bill, headed for President Barack Obama's signature next week, another battle line has been drawn for November. For Obama and his party, it is another mark in the win column. As Democratic Party Chairman Tim Kaine put it, "We now have added Wall Street reform to health care, credit card and student loan reform," all to curb the "abusive practices" of "corporate special interests." That ...
Senate Republicans Yield on Financial Reform Bill
By Joseph Schuman - AOL News(April 28) -- The Wall Street overhaul championed by President Barack Obama was headed to the floor of the Senate after Republicans gave up filibuster efforts to keep it from debate. Senate Minority Leader Mitch McConnell said late today that negotiations between party leaders on the Banking Committee had achieved as much as Republicans could hope to gain. That included assurances from Chairman Christopher Dodd, author of the financial regulation bill, that "changes will be made to end taxpayer bailouts and the dangerous notion that certain financial institutions are too big to fail." Harry ...
Opinion: Financial Reforms Go Too Far
By not in system - AOL News(April 22) -- As the debate over financial reform intensifies, it's easy to forget that there is a shared desire across the political spectrum to put an end to bailouts and to the idea that any firm should be too big to fail. Supporters of the plan now pending in the Senate argue that it would achieve these goals. It would not. In fact, it would institutionalize both. Key to the Senate bill is a Financial Stability Oversight Council, made up of nine existing agencies, with broad regulatory power over companies it considers systemically important, including authority to order the firm to ...
Girding for the Wall Street Vs. Main Street Fight
By Joseph Schuman - AOL News(March 15) -- Shielding Americans from shady credit card fees, protecting taxpayers from financial bailouts, saving banks from becoming "too big to fail," policing hedge funds, and safeguarding the country from future economic crises. Those are the main goals of a Senate bill more than half a year in the making and potentially the biggest U.S. overhaul of financial regulation since the Great Depression. But the chances of all or some of it becoming law hang on election-year politics as much as any need to confront the widely recognized gaps in oversight that contributed to the financial ...
Wall Street Reform Turns to Main Street, Maybe
By Joseph Schuman - AOL News(March 2) -- Who's looking out for the little guy? During all the debate over government cures for the financial crisis, billions of dollars in bank bailouts and fiery finger-pointing at greedy executives and heedless regulators, questions about the plight of American consumers have largely gone unanswered. Repair to Wall Street periodically emerged as a headline issue in Washington, but it always overshadowed accompanying provisions aimed at helping Main Street. Now those consumer-protection rules are back in play, as a spark of potentially bipartisan financial legislation is kindled in ...
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