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House OKs sweeping bank rules; Senate vote awaits

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posted on Jun, 30 2010 @ 08:03 PM

WASHINGTON (AP) -- Nearly two years after a Wall Street meltdown left the economy reeling, the House on Wednesday passed a massive overhaul of financial regulations that would extend the government's reach from storefront thrifts to the executive suites of Manhattan.

Senate support for the far-reaching bill remained in flux, however. The Senate was forced to delay its vote to mid-July, denying President Barack Obama a victory before Independence Day. Democrats struggled to secure the votes of a handful of Republican senators even after meeting their demands and backing down on a $19 billion tax on big banks and hedge funds.

AP Story

What do you think the Senate will do? Even if this were to pass, it'll probably take years to make an impact. But what do I know.

posted on Jun, 30 2010 @ 09:18 PM
This is one evil bill. Buried deep in the bill:

(2) GEO-CODED ADDRESSES OF DEPOSITORS- Customer addresses shall be geo-coded for the collection of data regarding the census tracts of the residences or business locations of customers.

posted on Jun, 30 2010 @ 09:21 PM
reply to post by ohioriver

Yikes. Bet there's a lot more interesting stuff hidden in there.

I wonder if the bill addresses usury.

I wonder if it address depositors who are illegal aliens who don't have to provide a social security number like Americans do. Bless you Bank of America.

posted on Jun, 30 2010 @ 09:26 PM
If they pass this, a true Depression wil happen within a year!

Read How it Will Happen by knowing history!

posted on Jun, 30 2010 @ 09:27 PM
I quit reading after that. We are being incrementally sold out by congress. If anyone votes for any incumbent, they deserve what we'll all get.

posted on Jun, 30 2010 @ 09:30 PM
Can anyone tell me how this was influenced by last years or this years G-20 summit?

posted on Jun, 30 2010 @ 09:53 PM
The only thing I read anything about from the summit was them discussing how they wanted to place fees and charges on the banks. I don't remember the details but do remember laughing and thinking...yeah...which the banks will just pass on to us.

posted on Jun, 30 2010 @ 10:24 PM
Whats the name of this bill? Ive been trying to find it, but only found this, dated June 26, so Im not sure if this is the right one.

The above is a summary of the bill. I would like to look over the real thing. Might take awhile, since its around 2,300 pages?

posted on Jun, 30 2010 @ 11:08 PM
reply to post by buni11687

Senate bill S.3271

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