BJJ-Blue
08-23-2011, 01:17 PM
Since David posted this, then locked the thread AGAIN, I figured I'd start a new one to refute his BS, again.
That is the failure to regulate wall street and financial companies that are still functioning under the same rules that allowed them to practically destroy the world economy over the last two years
The Dodd–Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111-203, H.R. 4173) is a federal statute in the United States that was signed into law by President Barack Obama on July 21, 2010. The Act implements financial regulatory reform sponsored by the Democratically controlled 111th United States Congress and the Obama administration.
The law was initially proposed on December 2, 2009, in the House of Representatives by Barney Frank, and in the Senate Banking Committee by Chairman Chris Dodd. Due to their involvement with the bill, the conference committee that reported on June 29, 2010, voted to name the bill after the two members of Congress. The Act, which was passed as a response to the late-2000s recession, was touted as the most sweeping change to financial regulation in the United States since the Great Depression, and purportedly represented a significant change in the American financial regulatory environment affecting all Federal financial regulatory agencies and affecting almost every aspect of the nation's financial services industry.
Source:
http://en.wikipedia.org/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer _Protection_Act
That is the failure to regulate wall street and financial companies that are still functioning under the same rules that allowed them to practically destroy the world economy over the last two years
The Dodd–Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111-203, H.R. 4173) is a federal statute in the United States that was signed into law by President Barack Obama on July 21, 2010. The Act implements financial regulatory reform sponsored by the Democratically controlled 111th United States Congress and the Obama administration.
The law was initially proposed on December 2, 2009, in the House of Representatives by Barney Frank, and in the Senate Banking Committee by Chairman Chris Dodd. Due to their involvement with the bill, the conference committee that reported on June 29, 2010, voted to name the bill after the two members of Congress. The Act, which was passed as a response to the late-2000s recession, was touted as the most sweeping change to financial regulation in the United States since the Great Depression, and purportedly represented a significant change in the American financial regulatory environment affecting all Federal financial regulatory agencies and affecting almost every aspect of the nation's financial services industry.
Source:
http://en.wikipedia.org/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer _Protection_Act