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Wednesday, April 28, 2010

Senate Republicans Offer Alternative Bank Plan After Blocking Democrats' Bill Again

Senate Republicans, attacked for twice blocking legislation to rein in Wall Street, floated a partial alternative proposal Tuesday and said it could lead to election-year compromise on an issue that commands strong public support.

The 20-page outline would prohibit the use of taxpayer funds to bail out failing financial giants of the future and impose federal regulation on many but not all trades of complex investments known as derivatives. It also calls for consumer protections that appear weaker than Democrats and the White House seek, and it would create new regulations on mortgage giants Fannie Mae and Freddie Mac.

The outline surfaced shortly before Senate Republicans united for the second straight day to block action on White House-backed legislation designed to prevent any recurrence of the ills that led to the economic calamity of 2008.

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8 comments:

  1. AnonymousApril 28, 2010 at 9:28 AM

    How can the Republicans block the banking bill, but not the Obama care bill?

    ReplyDelete
  2. AnonymousApril 28, 2010 at 9:46 AM

    The problem is Reps. always want to "outline" so they can pretend that they are being proactive, but a closer look usually shows that the outline lacks any real meat and potatoes. The devil is always in the details and half-baked plans are often worse than no action at all.

    ReplyDelete
  3. AnonymousApril 28, 2010 at 9:46 AM

    The problem is Reps. always want to "outline" so they can pretend that they are being proactive, but a closer look usually shows that the outline lacks any real meat and potatoes. The devil is always in the details and half-baked plans are often worse than no action at all.

    ReplyDelete
  4. AnonymousApril 28, 2010 at 9:55 AM

    Stop this administration from doing anything !

    ReplyDelete
  5. AnonymousApril 28, 2010 at 10:26 AM

    I know a lot of us were totally against Obama Care but THIS is important for all of US! It just goes to show where the Republicans interest lie. With them, it's all about money, money THEY can make or lose and this bill would LOSE them money!
    They're not interested in reigning those guys in, it's not in THEIR best interest to do so!
    This is why the people we elect need to be looked at very closely folks, no matter what party they are associated with! We need to get the criminals out of Washington!

    ReplyDelete
  6. AnonymousApril 28, 2010 at 10:52 AM

    Washington is full of crooks we all know that but the Progressive socialists are in power to say the least and are making a huge power grab , the people must stop them to save our republic !

    ReplyDelete
  7. AnonymousApril 28, 2010 at 12:03 PM

    10:26

    Are you aware that Wall St. donates roughly 3 to 1 to Dems over Repubs. The dems are the party of wall st.

    ReplyDelete
  8. AnonymousApril 28, 2010 at 12:56 PM

    But it seems it is that 1 out of 3 who is blocking this bill. Why? Because that one out of three are the fat cats!

    ReplyDelete

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