House Votes to Kill Dodd/Frank

[ZiprHead]

"The Republican bill, called the Financial Choice Act, passed the House 233-186 along party lines. The bill seeks to undo significant parts of the 2010 financial reform law.

Crafted by House Financial Services Chairman Jeb Hensarling, the bill passed despite vehement objections by Democrats to preserve the sweeping law aimed at preventing another financial crisis and protecting American consumers."

http://money.cnn.com/2017/06/08/news/economy/house-dodd-frank-repeal/index.html

These people have no sense of history.

 

[LordKiran]

"The Republican bill, called the Financial Choice Act, passed the House 233-186 along party lines. The bill seeks to undo significant parts of the 2010 financial reform law.

Crafted by House Financial Services Chairman Jeb Hensarling, the bill passed despite vehement objections by Democrats to preserve the sweeping law aimed at preventing another financial crisis and protecting American consumers."

http://money.cnn.com/2017/06/08/news/economy/house-dodd-frank-repeal/index.html

These people have no sense of history.

I mean should they? It's not like they're personally inconvenienced by market instability. Worse comes to, they can just get a bailout.

 

[barbos]

There is no mystery here, banksters paid republicans to kill it, so they did, and took the money.

 

[Jimmy Higgins]

And in the Senate, they'll need 60 votes to undo a filibuster and they can't muster 50 for ACA repeal/replace. The Dodd/Frank repeal can not be allowed. This is what the filibuster was created for.

Meanwhile Wells Fargo is paying back over $100 million because of banking fraud with their customers... and still gets to be a bank!

 

[rousseau]

And in the Senate, they'll need 60 votes to undo a filibuster and they can't muster 50 for ACA repeal/replace. The Dodd/Frank repeal can not be allowed. This is what the filibuster was created for.

Meanwhile Wells Fargo is paying back over $100 million because of banking fraud with their customers... and still gets to be a bank!

What's even wilder to me is that this is the case and the U.S. is one of the more developed countries in the world.

Kids in the more robust parts of North America really have no damned clue how good they have it.

 

[Elixir]

What's even wilder to me is that this is the case and the U.S. is one of the more developed countries in the world.

That's pretty wild alright. The U.S. is one of the world's more developed countries, but never fear - Team Cheato is going to fix that.

 

[rousseau]

What's even wilder to me is that this is the case and the U.S. is one of the more developed countries in the world.

That's pretty wild alright. The U.S. is one of the world's more developed countries, but never fear - Team Cheato is going to fix that.

Jokes aside, I've heard a number of analysts in the last few months muse about the potential collapse of the U.S.

This might not be the worst time to emigrate.

 

[LordKiran]

That's pretty wild alright. The U.S. is one of the world's more developed countries, but never fear - Team Cheato is going to fix that.

Jokes aside, I've heard a number of analysts in the last few months muse about the potential collapse of the U.S.

This might not be the worst time to emigrate.

Collapse? Nah. This will be more akin to the Spanish Empire's dissolution.

 

[rousseau]

Jokes aside, I've heard a number of analysts in the last few months muse about the potential collapse of the U.S.

This might not be the worst time to emigrate.

Collapse? Nah. This will be more akin to the Spanish Empire's dissolution.

Hard to predict the future but it appears the U.S. is in a sticky political situation at present. You're in dire need of better social programs at the exact time your government is trying to fleece you of them. And counter-intuitively, the worse off people are the stronger the GOP seems to get. The root cause is American culture, and I'm not entirely sure how you fix that.

I'm not sure what 'collapse' would mean in practice, but regardless a political machine that's unable to help it's own people seems like a serious problem. That said, what that does long term is hard to say.

 

[Harry Bosch]

Collapse? Nah. This will be more akin to the Spanish Empire's dissolution.

Hard to predict the future but it appears the U.S. is in a sticky political situation at present. You're in dire need of better social programs at the exact time your government is trying to fleece you of them. And counter-intuitively, the worse off people are the stronger the GOP seems to get. The root cause is American culture, and I'm not entirely sure how you fix that.

I'm not sure what 'collapse' would mean in practice, but regardless a political machine that's unable to help it's own people seems like a serious problem. That said, what that does long term is hard to say.

No collapse is coming! Side issue: but if you study the rest of the world you'd find out that "collapses" are very rare. We're having some issues. And I'd agree that Canada is probably a little more stable than the US right now! However, we are still far far better off than the vast majority of the world.