Arianna appeared on "The Situation Room" Wednesday evening along with CNN Senior Political Analyst David Gergen to discuss financial reform.
She said that the Senate shouldn't bother to pass a financial reform bill if it weakens the proposed consumer financial protection agency by putting it within the Fed. Arianna accused the White House of wasting time on financial reform in an effort to court GOP votes that could never have been gained. In their push for bipartisan interest, Arianna said that the White House lost control of the narrative on financial reform.
Senate Democrats, in the hope of attracting Republican votes, appear to have surrendered on the Consumer Financial Protection Agency. They've mastered the art of negotiating against themselves. READ MORE Political Oscars 2010 It's time again for our annual mash-up of this year's noteworthy achievements in the worlds of politics and entertainment. READ MORE Want to Come to the Taping of Our New Sitcom? WATCH: Arianna Discusses Move Your Money on CBS Sunday Morning WATCH: Arianna Discusses Weakened Financial Reform Legislation on CNN WATCH: Arianna Talks Too Big To Fail, Undercover Boss, and "Air Traffic Control Boy" on Real Time With Bill Maher
Op-Ed Columnist - Financial Reform Endgame - NYTimes.com
House approves financial reform bill - - POLITICO.com
Senators Chris Dodd and Bob Corker negotiate financial reform ...
As a compromise, Senate Banking Committee chairman Chris Dodd (D-CT) suggested burying the agency within the existing framework of the Federal Reserve.
However, even this major concession isn’t enough to satisfy Senator Richard Shelby (R-AL). The senior senator from Alabama’s stubborn refusal to adopt common sense consumer protections provides further evidence of the Republican Party’s prime directive: protecting the interests of large banks, corporations and the rich at the everyday American’s expense.
Passing a financial regulatory reform bill that includes both the Volcker Rule and an independent Consumer Financial Protection Agency is essential to preserving our nation’s economic stability.
The statements of a former Federal Reserve chairmen, Five former Treasury secretaries, a Wall Street CEO, at least one U.S. Senator and a Nobel prize winning economist all attest to this. Richard Shelby and his fellow Republicans owe the American people an explanation as to why they obtusely refuse to accept these crucial reforms.
Read more @ http://armchairfirebrand.wordpress.com/
Someone needs to give the Congressional Democrats and the Obama administration a seminar on closing the deal. You close the deal be saying, "OK, if I take this and change it like you want it, then you are going to vote for it, right?" If you don't get a flat yes that is recorded on video from the Republicans, you simply drop that compromise, because you are never going to get anything by pursuing that like of negotiation. The same goes for Financial Reform. And why the Hell is anyone listening to Chris Dodd? He is a lame-duck who is bought and paid for by the financial services sector. Put him back in his little room and bring him out when he is needed to vote.
Someone needs to give the Congressional Democrats and the Obama administration a seminar on closing the deal. You close the deal be saying, "OK, if I take this and change it like you want it, then you are going to vote for it, right?" If you don't get a flat yes that is recorded on video from the Republicans, you simply drop that compromise, because you are never going to get anything by pursuing that like of negotiation. The same goes for Financial Reform. And why the Hell is anyone listening to Chris Dodd? He is a lame-duck who is bought and paid for by the financial services sector. Put him back in his little room and bring him out when he is needed to vote.
Turning the economy over to the insurance industry is not reform.
We need the public option from day one.
WHAT A JOKE
If he means it, how about stopping Shrubya's wars, and stopping the reckless spending that, so far , has only served to INCREASE the size of our bloated tick of a government while also bailing out more cronies.
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered." -- Thomas Jefferson
So what? All those trillions reduce the value of your savings and pay checks in inverse proportion; the more bogus bills the fed prints, the more your dollars are reduced, which means you pay more for less through the hidden tax, INFLATION!
Wake up America, know when you are being slowly and insidiously being seduced by these Feds before you are in helpless labor trying to survive on their dribble down crumbs with you slave labor.
So who cares?
Anything else is silly and a waste of time.
Second they need to protect and defend the US currency. No such thing going on. They can influence the price of gold by buying and selling gold., taking away the incentive to build another currency based on it.
Elementary Watson. Are they actually trying to do something with the banks, or are they just dancing around with the bankers, wasting time?
A troubling aspect regarding conservative opposition to the CFPA is the fact that the creation of this independent agency is something that would seemingly appeal to those who would favor competition…as it would help to stabilize and encourage true market forces. Decreasing banking and financial services abuses would also allow and encourage the good actors in the industry to compete on a level playing field as they would be again be rewarded for sound and responsible business practices. This agency would also substantially benefit the greater economy by helping to restore waning consumer confidence, security and systemic trust. Most critically for recovery, justifiably untrusting consumers may well need this type of independent assurance in order to invest with confidence again! In this sense, opposition to the creation of this wholly independent agency would be extremely shortsighted as it could be seen as a crucial element in helping to restore real and desperately needed economic growth across all sectors. This would truly benefit “every” street in America…including Wall Street…and that should be the true goal.
http://thomastonpaine.newsvine.com/_news/2010/03/03/3974904-senator-shelby-please-pass-the-cfpa-the-american-people-need-your-help
Our nation is staring at its' DOOM!
This is Financial Warfare against the US with a Financiers' coup de tat Supported by the FED!
We can NOT maintain the FINANCIAL ARISTOCRACY’S FED DEBT-BASED SYSTEM!
We are in an Irreversible, Accelerating, Collapsing Operation with Bailout $23+Trillions intensifying the Collapse.
Audit the FED and put it into Bankruptcy Protection! Recover the bailout $Trillions, and Bankrupt Banks that qualify join the US National Bank under Glass-Steagall standards.
Assert National Authority in US to issue US Credits and a Credit currency into the REAL Economy to MOP and SOP UP the Massive DEBTS that the FED Created over the last almost 100 years!
This will and other actions can MASSIVELY enhance our Standard of Living by job creation and infrastructure projects.
The World is depending on the US Political Process to lead and cooperate with other nations in reorienting the Financial/Economic Systems to WORK for ALL People! NOT just those in the Financial Aristocracy who are trying to USE BUBBLES to POP and the MONEY goes to the WEASELS!
Fanned again!