Firedoglake and Clusterstock detail its mostly tepid provisions. Oh gosh, you mean the consumer protection agency will be part of the Fed. Surely, we will protected now. Blanche Lincoln’s attempt at serious derivative regulation got whacked.
Look, it’s being dubbed the Dodd-Frank bill, and both those senators are notorious for being Huge Champions of the People until the end game where they invariably back their corporate masters instead.
Clusterstock shows Wall Street’s reaction to the agreement. Yes, they just trembling with fear, aren’t they?
Oh yeah, this new financial regulation bill is going to be HORRIBLE for capitalism.
That must be why futures began rallying within seconds of the financial reform compromise. Seriously, the timing couldn’t be more clear.