http://money.cnn.com/2010/07/15/news/economy/whats_in_the_reform_bill/index.htm
US financial reform passed by Senate
After learning about federalism, it is nice to see that the United States have seemingly started to practice a form of federalism that worked the last time we were in a depression. I understand the fear that the federal government can be over bearing, but since the Reagan Administration in 1980's the whole, give states more power blah blah blah thing hasn't worked that well. It has put the U.S. in the position we are in now. Lets be real people the economy needs help!
All the people that got screwed between 2005-2008 in the mortgage crisis now have someone that by law, is there to create regulations to protect them and even prevent mortgage crisis' from happening in the future.
It also gives the FDIC the ability to take down larger financial firms. Which to me means that all the CEOs, CFOs, COOs, and anybody else at the top of big business better watch out. There will be no more skimming off the top, or spending your employees 401k, or giving your self a ridiculously huge bonus when your company just accepted billions from the government because you were BROKE!!!
I have attached an article from CNN. Read it! It breaks down the bill further and is an easy read.
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