Saturday, June 26, 2010

The President's Weekly Address: Finishing the Job on Wall Street Reform

From the White House blog:

With Congress having finalized a strong Wall Street reform bill, the President urges Congress to finish the job and send the bill to his desk. The legislation reflects 90% of what the President originally proposed, including the strongest consumer financial protections in history with an independent agency to enforce them. It ensures that the trading of derivatives, which helped trigger this crisis, will be brought into the light of day, and enacts the “Volcker Rule,” which will make sure banks protected by safety nets like the FDIC cannot engage in risky trades. It also creates a resolution authority to wind down firms whose collapse would threaten the entire financial system. Wall Street reform will end taxpayer funded bailouts and make sure Main Street is never again held responsible for Wall Street’s mistakes.



Hopefully this will get passed very soon. If the GOPers just don't filibuster this as well. We need this to be done. Does it address everything... NO... but it is a good bill all in all.

We have to stop this no regulation and no rules era we have been living in. It has caused more problems in this country than anything else we have in place.

Please, take a minute to write, call or somehow get in touch with your Congressperson and express your support for this.

5 comments:

TomCat said...

I have already called them and requested immediate passage. The bill leaves plenty to be done later, but it's better than I had hoped it would be.

Annette said...

I agree TC... it is much better than I thought we might end up with.. Now if the Senate can just pass it... That's a big IF.

江婷 said...

Poverty tries friends.....................................................................

tnlib said...

I must get over ten emails a day asking me to sign one petition or another, so I'm pretty sure I've let my voice be heard somewhere along the way. Thanks Annette.

Annette said...

I know Leslie I get them too...lol I just hope they get it passed.. and right now it is in doubt.