sweeping financial overhaul
Key House and Senate lawmakers agreed on far-reaching new financial rules early Friday after weeks of division, delay and frantic last-minute deal making. The dawn compromise set up a potential vote in both houses of Congress next week that could send the landmark legislation to President Obama by July 4.
Lawmakers pulled an all-nighter, wrapping up their work at 5:39 a.m. -- more than 20 messy, mind-numbing, exhaustive hours after they began Thursday morning.
"It's a great moment. I'm proud to have been here," said a teary-eyed Sen. Christopher J. Dodd (D-Conn.), who as chairman of the Senate Banking Committee led the effort in the Senate.
It is just me? Or does all this seem to be moving a bit too fast of late? It seems to me that this president is going for the hat trick. He is proceeding on three fronts. Cap and trade (via the gulf crisis), immigration via his placement of leadership inside ICE and now this as it applies to the broad spectrum of banking and the economy. In the end, the government comes out more powerful and you and I end up wondering what happened.
Chris Dodd said it best when he remarked........
"No one will know until this is actually in place how it works. But we believe we've done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done."
Any of that sound familiar? Seems Madam Nancy gave us the same version on health care as I recall. "we need to pass this so everyone can see what's in it."
Here we go again or as Yogi Berra would say, "It's Deja Vu all over again."
When are the American people going to wake up to what is taking place? When the camp doors slam behind them?
This nation and our values and principles and laws are under siege and all our media can do is gloat over the supposed brilliant leadership of this president, while simultaneously ignoring ever poll and finger on the pulse reading of Americans that exist.
George Orwell is somewhere shaking his head and smiling and muttering I told you so. Meanwhile Jefferson and Payne and the the rest are spinning in their graves.
How much time do we have left as a nation of free people? Before this regime steps up and makes the final grab. As was done in Germany in the 1930's? No one is watching, no one seems to care.
The government would have broad new powers to seize and wind down large, failing financial firms and to oversee the $600-trillion derivatives market. In addition, a council of regulators, headed by the Treasury secretary, would monitor the financial landscape for potential systemic risks.
Absolute control is what they are talking about having....
And the wizard behind the curtain on this quantum shift in governmental power?
"The finish line is in sight. The bill that has emerged from conference is strong," Treasury Secretary Timothy F. Geithner said in a statement early Friday. "It will offer families the protections they deserve, help safeguard their financial security and give the businesses of American access to the credit they need to expand and innovate."
Slowly slowly catchy monkey.......