jump to last post 1-8 of 8 discussions (10 posts)

Do you think Congress will pass real financial reform?

  1. ErictheGator profile image60
    ErictheGatorposted 6 years ago

    As it stands, the House has passed a weak financial reform bill that doesn't address too big to fail, the derivitive market, the pay day loan industry, or the credit card market. The Senate isn't even debating it yet but they have a problem with a strong financial consumer protection agency. Wall Street has recovered and back to the same practices that brought about the Great Recession while unemployment hovers around 10%.

    1. rhamson profile image76
      rhamsonposted 6 years ago in reply to this

      I don't think they will because it is the golden goose for them.

      The favor they pander for money and influence is too tempting for them to resist and to restrict what and how much measure it is to be given out is contrary to their system.

      The problem with congress is "Us" the taxpayer.  We have the power to change it but are happy with it the way it is as evidenced by our elections.

      You may say if I vote then I am not a part of the problem but rather I am a part of the solution.  But the ability to decide is based on political influence and manipulation through the media, the two major political parties and the opinion of your friends and acquaintances.

      How you make a difference is predicated on how serious you are to seek out the truth and decide the best course of action that makes sense and not bow to the slime bags who merely pay lip service for your vote.

  2. tobey100 profile image61
    tobey100posted 6 years ago

    Asking congress to pass real financial reform is kind of like ask cannibals to teach vegetarians to cook ain't it????

  3. 69
    logic,commonsenseposted 6 years ago

    They do not have the morals or intestinal fortitude to pass any kind of real reform, let alone financial!

  4. Ralph Deeds profile image70
    Ralph Deedsposted 6 years ago

    That depends on how you define "real reform." There will be some useful reforms, but whether reforms sufficiently effective to get the big Wall Street banks under control is doubtful. They are lobbying very hard against anything that would force them to make major changes in their operations--e.g. trading in derivatives, trading for their own accounts, excessive leverage and the like.
    I've been under the impression that some reforms have already been passed that correct some of the worst credit card tricks and traps. Also, the banks appear to have learned a lesson about fraudulent subprime loans. The big issue is prohibiting banks from speculating for their own accounts with deposits insured by the government and with too much leverage.

  5. Rochelle Frank profile image89
    Rochelle Frankposted 6 years ago

    They will reform when pork flys.

    1. Ralph Deeds profile image70
      Ralph Deedsposted 6 years ago in reply to this

      Ha! Pork flies all the time in Washington!

  6. SparklingJewel profile image67
    SparklingJewelposted 6 years ago

    aren't they still pushing more power for the Federal Reserve to be in control?...they caused all the problems in the first place

  7. N. Ramius profile image81
    N. Ramiusposted 6 years ago

    Congress blew their chance at reform when they decided to give out the stupid bailouts and did not include any conditions.

  8. 0
    LegendaryHeroposted 6 years ago

    No, people are never careful with spending money that is not their own.