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| Home Front: Politix |
| Pelosi slams 'reckless' Wall Street |
| 2010-04-16 |
| [Iran Press TV Latest] US House Speaker Nancy Pelosi has said that the Senate may pass legislation to "rein in" Wall Street in order to counter those "reckless" in the market. "Never again should those who are reckless on Wall Street cause people to be jobless on Main Street, and this is going to be our fight as we go forward," the Democratic leader told reporters at her weekly press conference. The House of Representatives approved its version of the bill last year, so Senate passage would trigger bicameral talks aimed at crafting a compromise measure, to be approved by both chambers before it could go to Obama for final approval. A Democratic financial regulatory reform bill has already passed out of the Senate Banking Committee by Democrats without Republican support in a 13 to 10 vote, paving the way for a full Senate debate. The legislation would introduce numerous Wall Street reforms, creating a potentially powerful consumer financial protection agency, placing checks on executive bonuses and curbing risky investments. |
| Posted by:Fred |
| #5 I'm sure the Donk's are going to return all the campaign contribution monies derived from the ill gotten gain. |
| Posted by: Procopius2k 2010-04-16 15:28 |
| #4 Queen Nancy's doing her patriotic duty in building up the wrecked reputation of Wall Street by engaging in public persecution of that currently-hated institution. Only her intervention could possibly redeem the financial industry's bankrupt public relations. |
| Posted by: Mitch H. 2010-04-16 14:15 |
| #3 "Never again should those who are reckless on Wall Street cause people to be jobless on Main Street..." That's Congresses job! |
| Posted by: Formerly Dan 2010-04-16 11:59 |
| #2 I look at Queen Nancy and it seems no one is home. It's not Wall Street that regulates, passes laws, and establishes policy. Subprime loans and derivatives were the time bomb created by Congressional and the Federal bureaucratic policies. Who came up with the idea, that everyone should have a house with no job, no money down, and no means to pay? |
| Posted by: JohnQC 2010-04-16 08:56 |
| #1 How delusional is she? The government decided that there should be no limit to the amount of credit in it's currency area (turning it into a commons). The government loved all the tax this generated. Bad money crowds out good, so as you bump up the supply of credit, those who invest HAVE to choose riskier and riskier uses. The problem is simple. There's FAR too much credit swimming around the economy, and it's the fault of politicians. |
| Posted by: Bright Pebbles 2010-04-16 03:50 |