Nightmare on Wall Street
Nightmare on Wall Street - Eamon Javers and Meredith Shiner - POLITICO.com
The Wall Street reform bill is taking that rarest of paths through the Senate — actually gaining tougher provisions against the industry as it proceeds, not being watered down to win votes as health care reform was.
And that’s put Republicans in a difficult spot. They like the bill less with each passing day but know they risk looking like they’re siding with Wall Street if they vote no.
Democrats know public opinion is on their side and keep pressing their advantage. The latest example came Thursday, when the Senate voted, 64-33, to pass an amendment by Sen. Dick Durbin (D-Ill.) that would allow the government to oversee debit card transaction fees.
Re: Nightmare on Wall Street
I hope that whatever is passed contains dramatic regulations. I'm sick of the banking/finance industry personally. And I do not care if it adversely affects the stock markets.
The worst-case scenario would be if congress relents and told us it was because they were afraid of what affect it would have upon stocks. That would be cowardly.
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