Watchdog's Fate In Senate Key To Financial Reform

The tag on U.S. financial regulation reform may as well say "Made on Wall Street" if bank lobbyists manage to gut the Obama administration's proposed consumer watchdog agency, said Elizabeth Warren on Monday.

Read the whole story: Reuters

Comments

[Euranya]

11:07 AM on 01/19/2010

I am becoming convinced that hitting these folks in the wallet is the only way to change things. For years, I have been politically active, participating in protests, being active in my union, writing letters and emails to politicians and other powerful people, and I have finally decided that on this particular issue, financial reform, my usual go-to strategies just WON'T work. I am simply going to move my money OUT of JP Morgan/Chase and put it IN a local bank. THEN I am going to cut up my credit card and pay CASH for things. If enough people show their disgust with the big banks and the financial industry in general by hitting them hard where it counts, maybe THEN our voices will be heard. Oh, and I will no longer fund the DNC because I feel that the Democrats have become too much like the Republicans.

[auteur]

05:16 AM on 01/19/2010

Well I'm off to go pay the taxes that allow socially challenged Libertarian students the Right to suk on the Rand pipe living in lala land while us Dems & Reps fight for the throne. Peace to all, enjoy your days.

[JackRusselTerrier]

04:46 AM on 01/19/2010

To C IH8U2,

I saw your comment. I don't know why it was deleted_. This is my response.

The masses are still asleep. Too many people are stuck_ in cheerleader mode. I also think people are afraid to be confused_ with tea party members. Depending on developments, this summer may be different.

[C IH8U2]

04:54 AM on 01/19/2010

One could only hope. I wasted my vacation time and plenty of $.
Now I'm unemployed and facing homelessness in a few weeks.

[JackRusselTerrier]

05:00 AM on 01/19/2010

I'm sorry to hear that. I hope things get better for you. This may not seem the best time, but I was planning on it already - you are fanned for your comments earlier.

[auteur]

04:58 AM on 01/19/2010

Have the masses ever woken up? I'm pretty sure it's just those with intelligence fighting for control.

[JackRusselTerrier]

05:03 AM on 01/19/2010

It seems to take a lot to get them to stop watching MSM and do some research. It is up to us to spread the word.

[JackRusselTerrier]

04:34 AM on 01/19/2010

I posted links hundreds of times for petitions and information on how to contact Senators and Congressmen. I wrote thousands of emails to them my self and made hundreds of phone calls.

At this point, the only solution I see is for millions to demonstrate on the doorstep in front of Wall Street and in Washington.

[Carolab]

04:37 AM on 01/19/2010

Eggsackly.

[PhilipTaylor]

04:41 AM on 01/19/2010

Use the new NSA hand held version of HAARP on them!

WALL STREET + WASHINGTON + FED ARE OUT OF CONTROL!

Shut them ALL down and start OVER!

Remember the old IBM Computers in the late 1950's compared to the notepad computers and iPhones!

[PhilipTaylor]

05:59 AM on 01/19/2010

Yes and Begich says it can not be made 16,000 times smaller!

It is likely they will have a vehicle sized one and perhaps even smaller!

Technology in the "wrong hands" may be a MASSIVE PROBLEM!

[PhilipTaylor]

04:39 AM on 01/19/2010

I agree the who email, calls, and letters is way OVERRATED!

It is time for ACTION!

[C IH8U2]

04:28 AM on 01/19/2010

We pledge allegence to flag, of the United Corporations of America. Andscrew the Republic, for which we can't stand. One nation. With $ as G0D. No need for Liberty or Justice for all.

[PhilipTaylor]

04:31 AM on 01/19/2010

You took that from G0LDMAN! LOL!

[SassySafrine]

04:32 AM on 01/19/2010

Carl Schurz:

The peace and welfare of this and coming generations of Americans will be secure only as we cling to the watchword of true patriotism: "Our country -- when right to be kept right; when wrong to be put right."

Here is to putting things right. Thankfully, the Dems are contemplating this type of reform. We still have an opportunity to impact it. If wrong, help put it right. Don't give in to pessimism.

[PhilipTaylor]

04:35 AM on 01/19/2010

D0DD wants it to be stopped to get PAID by Wall Street on Retirement! Like summers got $7.3 Million in six months of part time work!

[tstm89]

04:22 AM on 01/19/2010

Sassy is right. All humans hate to be bugged. Its our duty as citizens at this moment to annoy the s%*t out of these people.

Encourage everyone you know to spend an absolute minimum of 10 minutes a day calling and writing members of our government and corporate media. Many in these institutions will be very receptive almost immediately if enough people are contact. These are the people just waiting for the heads up from the public before their necks on the line. A good many though will not be receptive at first. These are the ones we have to try to really annoy. I really mean it... ANNOY the hell out of them in whatever creative way you can think of until they listen to you.

If and when you actual get to confront them face to face be polite and respectful. Be equipped with specific questions you want answers and specific facts you want addressed.

Also, and this could be HUGE in the near future, you just wait... have someone videotape and put it on YouTube. Create you own news story! WE HAVE THE POWER.

[SassySafrine]

04:23 AM on 01/19/2010

Well said, baby. We do have power. We cannot give up so easy.

Well said!

[Carolab]

04:24 AM on 01/19/2010

Suggestions welcome.

[PhilipTaylor]

04:27 AM on 01/19/2010

Use HAARP on them!

WALL STREET + WASHINGTON + FED ARE OUT OF CONTROL!

Shut them ALL down and start OVER!

[poco767c]

04:20 AM on 01/19/2010

New main, good morning

[SassySafrine]

04:23 AM on 01/19/2010

Morning, Poco.

[MNmommy]

04:25 AM on 01/19/2010

Seriously?

Morning dear poco. :)

You are studying to be a doctor, can you please explain why when I get a migraine and take hydrocodone, I can't sleep?

[SassySafrine]

04:18 AM on 01/19/2010


"We don't have to engage in grand, heroic actions to
participate in the process of change.


Small acts, when multiplied by millions of people,
can transform the world."


~ Howard Zinn (Historian) ~

Be the change you desire.

[auteur]

04:16 AM on 01/19/2010

AndreaCastillo
wrote:
“Well, he has a point. You are abitch.

(I don't know you, I'm just being goofy).”

------------

Apologize for flaming on you. And caliing you names. But of all people you annoy me the most.

You obviously have the ability to paraphrase and cite Theory, but 98% of what you say is conjecture formulated on hypothesis that is written by authors who take no consideration of the real worl consequences or real applicability of what they say when the REAL WORLD paradigm changes.

For every Ayn Rand there are 50 opposing arguments all equally flawed as Rand. You pontific as if what you read are absolutes, they are not.

You need to go intern for someone in the G8, or World Bank, the words you are reading for class are not worth the paper they are written on without real world applicability.

Stop restricting yourself to such compartmentalized logic.

If you used half of this: http://en.wikipedia.org/wiki/Humanism , with the theories you learn now you'll be great.

P..S. You wanna be the person that says "how you like them apples" not a know-it-all android

[auteur]

04:25 AM on 01/19/2010

ANDREA CASTILLO WROTE IN LAST COMMENT:

"'I personally am a Rothbardian anarcho-capitalist (although I do see the merits of an objective standard of recognized law a la Rand). There is a lot of excellent literature on the subject if you are interested. This chapter from "The Ethics of Liberty" by man himself is a good start":

SAYS IT ALL

Tell that to Warren Buffett in an interview and watch the old man giggle.

[MNmommy]

04:29 AM on 01/19/2010

Personally, I got a kick out Dis's calling her out on the impossiblity of being Randian and Rothbardian.

It was a great spank. :)

[C IH8U2]

04:12 AM on 01/19/2010

"Nothing can stand in the way of millions of voices calling for change". -Barack Obama

Millions of voices called for Single Payer. Congress and the Senate stood in the way.

Millions of voices then called for a Public Option. Congress and the Senate stood in the way.

Millions of voices then called for a MeddiCare Buy In or Opt Out. Congress and the Senate stood in the way.

[SassySafrine]

04:14 AM on 01/19/2010

So let me remind you tonight that change will not be easy. That change will take time. There will be setbacks, and false starts, and sometimes we will make mistakes. But as hard as it may seem, we cannot lose hope. Because there are people all across this country who are counting on us....

~Barack Obama, 2008 Jan 26, Columbia, South Carolina'

[C IH8U2]

04:19 AM on 01/19/2010

He himself wouldn't even put up a fight. I think maybe Jesse Already cuthisnutzoff.

[SassySafrine]

04:15 AM on 01/19/2010

I'm asking you to believe. Not just in my ability to bring about real change in Washington, but I'm asking you to believe in yours.

Barack Obama.

[luvobama]

03:56 AM on 01/19/2010

I will say this one time, I have never been more proud of our country

I adore our President, more than I do most men.

He appeals to me.

He has never found it in him, to WANT to go to war, but, this is sosucky.

Poor Our Prez!!! It has almost been a WHOLE year!

[Carolab]

03:58 AM on 01/19/2010

Just because you think he's hunky doesn't make him a good president.

Wow. Image matter much?

[SassySafrine]

04:00 AM on 01/19/2010

luvangelHussein330

Like someone else posted,

"The President would be doing fine if we were a nation of thoughtful adults. But he inheritated a nation of immature, I want it now, my way or the highway, children filled with fear.

President Obama's changes wsn't a magical wand to make all our liberal dreams come true in a year. Matter of fact he said it would take alot of hard work, false starts and patients because most thing damadged will not get fixed for years. Details like that fly over an imature childs head. In the mean time I think he is doing a good job.

Facts are stuborn things.

Its a shame HP decides like the rest of the media not to delve into facts:

http://www.politifact.com/truth-o-meter/article/2010/jan/14/rating-obamas-promises-1-year-mark/



Heres is a break down of his year.

[SassySafrine]

04:13 AM on 01/19/2010

There is nothing in that post that said she liked the President because he is 'hunky.' Project much?

LOL

[JackRusselTerrier]

04:01 AM on 01/19/2010

An Obama bot is no better than a Bush bot. This world needs less cheerleaders and more objective thinkers.

[SassySafrine]

04:04 AM on 01/19/2010

Be one.

[SassySafrine]

04:06 AM on 01/19/2010

And,

The whole problem with the world is that fo0ls and f@natics are always so certain of themselves, but wiser people so full of doubts.

Bertrand Russell

[SassySafrine]

03:56 AM on 01/19/2010

It is rumored that the Senate, which reconvenes tomorrow will do something.

it is further rumored that Elizabeth Warren would be appointed to an agency that does not yet exist.

Nobody believes the official spokesman, but everybody trusts an unidentified source.
-- Ron Nesen

[MNmommy]

03:59 AM on 01/19/2010

There have been many articles on this topic over the last few weeks:

http://bit.ly/6yViAj

which is probably why many of us are cynical about seeing any real reform. We've seen this play out before - even when we've written many hand written letters, sent emails, made phone calls and signed petitions.

[SassySafrine]

04:03 AM on 01/19/2010

There have been articles based on speculation. Over the last few weeks, the Senate has been in recess. In December the focus was on health care.

And so what? If it played out this way before, does that mean you give up? Roll over? Whine before this deal is done? Not me. I fought until the Senate voted on health care. I am still for single payer and will be fighting for that until that is done.

And there is still time. Join me. We cannot give up so easily.

[systemist]

03:51 AM on 01/19/2010

Abraxas79 >> "Yet but the limitation that I mentioned in what is conceivable and the concomitant diminishing of expectations is the greatest triumph of right-wing marketing, and it’s Orwellian to its core."
========
PerfectSense >> "Bunk - it the lefties who desire to limit choices and lifestyle, not the right. It is lefties who redefine words and like to erase history."
========
Disuberence2 >> "Phew, thanks for the laugh."
========
PerfectSense >> "Dissent use to be the highest form of patriotism, in lefty speak dissent is now r@cism."
========
systemist >> "He [PS] is correct though.

Why is our collective memory fuzzy about the origins of world war 1... and about the nature of the Na.zis... and of the 10 plus year Great Depression... as FDR still garners adoring love and praise.

It's been like a soft version of 1984 this whole time."

[SassySafrine]

03:54 AM on 01/19/2010

Huh?

[systemist]

03:56 AM on 01/19/2010

Disuberance will get it.

[systemist]

03:59 AM on 01/19/2010

Just imagine that the State has educated most Americans.

What do you think they would teach our citizens?

A: FDR was the best president we ever had.

[SassySafrine]

03:51 AM on 01/19/2010

From the article: "The Senate will reconvene on Wednesday with analysts expecting agreement in the banking committee on financial regulation reforms within weeks."

There is ample time for citizens who have the courage to weigh in and lobby.

[JackRusselTerrier]

03:50 AM on 01/19/2010

Solutions.­­­­­­­­­­.­.

- Eliminate corporation person-hood. (corporations are companies and should not have the same rights as people)
- Campaign finance reform. (Publicly finance campaigns.­­­­­­­­­)
- Eliminate computerized voting without a paper trail
- Claw back unwarranted Wall Street and bank bonuses.
- Reinstate Glass Steagall (separate banks from investment firms)
- Eliminate Credit Default Swaps. (Investments without vested interest)
- Heavily tax day trading. (scams that Goldman Sachs manipulates through high speed computers)
- Eliminate Hedge Funds. (Betting on failure = legalised gambling on Wall Street)
- Reinstate tax rates as they were before Reagan.
- Eliminate the cap on Social security withholding. (which stands now at only $106800)
- Fully federalize and audit the FED. (As it is now, the FED is a consortium of private banks.)
- Consumer protection laws with TEETH_. (no more weak legislation with loopholes)
- Break up the too big to fail banks. (they have already proven they can't survive without taxpayer help)

The first three are the most important.

[C IH8U2]

03:52 AM on 01/19/2010

Agreed. Also need to get rid of the filibuster. It's very concept is anti-democratic.

[MNmommy]

03:54 AM on 01/19/2010

-stop shoveling free money to the banks