Full Highlights From Dodd's Financial Reform Bill

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Mon, 03/15/2010 - 14:44 | 266060 carbonmutant
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And no audits are necessary.

Mon, 03/15/2010 - 14:49 | 266066 SilverIsKing
SilverIsKing's picture

The more things change, the more they stay the same.

Nothing to see here.

Mon, 03/15/2010 - 14:54 | 266070 suteibu
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Ugh.  I just saw Dodd talking about this.

"Blah, balhblahblah, government.  Blahblahblah, independent commission, blahblah authority...blahblah hedge funds..."


And then something about protecting the peons from greed.  Did I miss anything?

Mon, 03/15/2010 - 15:38 | 266126 carbonmutant
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I think he was talking about greed that had not been Congressionally approved.

Mon, 03/15/2010 - 14:56 | 266073 dark pools of soros
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--No Compensation for Lies


are we ending politics???

Mon, 03/15/2010 - 15:00 | 266077 Ivanovich
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"New Office, New Focus at SEC: Creates an Office of Credit Ratings at the SEC with its own compliance staff and the authority to fine agencies. This new office will be located behind a firewall preventing its staff from looking at transvestite porn."

Mon, 03/15/2010 - 15:11 | 266089 knukles
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Lessons learned from TCW?

Mon, 03/15/2010 - 15:03 | 266079 rubearish10
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That's it! All problems solved. Now, let's BUY BUY BUY!!!

Mon, 03/15/2010 - 15:04 | 266081 docj
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We can't miss you if you won't leave, Chrissy.

Mon, 03/15/2010 - 15:09 | 266085 williambanzai7
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Care to wager what will pass first, this, HC reform, Climate Change or a resolution memorializing Peter Graves?

Mon, 03/15/2010 - 16:18 | 266199 Crummy
Crummy's picture

This financial market will self destruct in 3, 2...



Mon, 03/15/2010 - 15:10 | 266087 knukles
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Yeah, yeah.

Mon, 03/15/2010 - 15:10 | 266088 sodbuster
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So we have to create a whole new regulatory agency to do what the others are too corrupt to do! And after a few years, this one will be filled with corruption too! No change here!

Mon, 03/15/2010 - 15:13 | 266090 10044
10044's picture

Rumor has it that the jig is up for bofa and fdic, they'll be toast by oct/nov, that's why lewis left and fed will control everything

Mon, 03/15/2010 - 15:19 | 266098 rubearish10
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What rumor, Loan Losses??

Mon, 03/15/2010 - 15:13 | 266091 waterdog
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This will never make it out of the Senate; it is sponsored by a Democrat. No Republican will vote for it. The Democrats will stab each other in the back during the debate on the bill like they did on health care. The only thing that the Democrat party can pass is gas.



Mon, 03/15/2010 - 15:24 | 266105 overmedicatedun...
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and that's bad , How??


what we need is a few good AG's ..but heck

they are preoccupied filling out the NCAA brackets.

Mon, 03/15/2010 - 15:22 | 266103 buzzsaw99
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about what i would expect from dodd.

Mon, 03/15/2010 - 15:25 | 266106 deadhead
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Thank you for publishing the summary TD.

Mon, 03/15/2010 - 15:26 | 266108 faustian bargain
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Dodd is one misguided individual if he thinks this is the way to leave a legacy.

Mon, 03/15/2010 - 15:26 | 266109 rubearish10
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See, Dow up! All clear once again. What the Frek?? What BS this is. This is like a bad dream except it's real but everyone's in LA LA Land!

Mon, 03/15/2010 - 15:32 | 266115 Rick64
Rick64's picture

 Dudd's last stand. He probably is trying to undermine real reform by passing this because by the time it is passed, it won't resemble the original bill or to take the focus off of real reform. Plus he will probably slip something in there with it. Maybe free condos for retired hypocriticians.

Mon, 03/15/2010 - 15:32 | 266118 Mercury
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Tyler, Marla, Space Monkeys, love what you've done with the place.

Mon, 03/15/2010 - 15:33 | 266122 faustian bargain
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lol @ Dow. Unbelievable.

Mon, 03/15/2010 - 15:38 | 266127 rubearish10
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LOL LOL!!! More than unbelievable, it's "out of its mind"! Likely to break higher in more disbelief and insanity.

Mon, 03/15/2010 - 16:20 | 266206 faustian bargain
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...and SPX squeaks out in the green too.

Mon, 03/15/2010 - 15:57 | 266157 crzyhun
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Just printed out the puppy to read....a honking 10 pages. If you think anyone will read the bill besides staffers you are way wrong. Just like the HC bill, death by 1mm letters.

Mon, 03/15/2010 - 16:02 | 266168 Guy Fawkes
Guy Fawkes's picture

Place your bets:

Who does Dodd go work for when he leaves?

Mon, 03/15/2010 - 16:05 | 266170 Gordon_Gekko
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The Financial Stability Oversight Council


'nuf said. Now let's proceed with the dollar's implosion, shall we?

Mon, 03/15/2010 - 19:32 | 266493 dumpster
dumpster's picture


there is some shit i will not eat









Mon, 03/15/2010 - 16:07 | 266178 spekulatn
spekulatn's picture

A fitting swan song from a fitting fool.

Sail away,good sir,on your new SS countryWIDE for vips


{Where's my damn bucket}

Mon, 03/15/2010 - 16:35 | 266237 nope-1004
nope-1004's picture

Today's "professionals" and "elected officials" are running around in the back of limos to expensive luncheons and meetings, trying to figure out how to save this economy and give it back to the people.


I'll give you a clue how to give it back:  STFU and restore some honesty to this gov't that once said it would be "change I could believe in".  Get productive like Ron Paul and free up the documentation on what you are doing with OUR money.  Audit the fed, send Bernanke on ground patrol to Afganistan, and put Geithner in prison.  Then, proceed with castrating those fucking greedy bankers, who all are more interested in "save my bonus" than "save my soul".  Fuckers.


All I can say is I don't believe the idiocy of this gov't.  Change in brightness and contrast only, failed policies and top-heavy mandates for 'we the peons' remain the same.

Obama.... you said you would do something.  You're haven't.  You're a failure.  Admit it, just like all the rest of Washington that is bought and paid for by Wall Street, you are too.  One day you fuckers will regret not listening to the people.  The people are this country, Wall Street is not.  Wall Street is some demonic enterprise cloaked under the guise of wealth creation and financial innovation.  Well, a broken clock is right twice a day, dude.  You have chosen who you pander to, and for that you should be ashamed.


I will never, EVER, believe another thing out of your mouth, mr. o-scama.

Mon, 03/15/2010 - 16:45 | 266258 gs_runsthiscountry
gs_runsthiscountry's picture

1336 pages of paper to tell us nothing will change.

The people that caused the problem overseeing eachother, priceless.

All is well on Capitol Hill...please exit to your left and proceed to next crisis please.

Mon, 03/15/2010 - 17:09 | 266274 Caviar Emptor
Caviar Emptor's picture

So let's review the fossil record of financial regulation in the United States. After each financial shock there's a new agency or two, designed to address yesterday's economic problems and keep the criminal enterprise at bay.  They soon succumb to the evolution of complexity in "financial innovation" as both good and corrupt speculators take the party elsewhere. In the last few decades the regulators succumbed to full complicity in the ways of Wall Street

1887: Interstate Commerce Commission (to deal with evil in the railroads) 

1913: Federal Reserve (to deal with evil in banking and foreign exchange)

1914: Federal Trade Commission (to deal with evil monopolies)

1934: SEC (to deal with evil in the stock market)

1974: CFTC (to deal with evil in commodity futures market)

Next up

2012: The credit derivative trading commission (CDTC) Chairman: Hank Greenberg

2013: The currency exchange commission (CEC) Chairman: George Soros


Mon, 03/15/2010 - 17:14 | 266281 MarketTruth
MarketTruth's picture

Federal Reserve: will regulate bank and thrift holding companies with assets of over $50 billion, where the Feds capital market experience will enhance its supervision.

The Fed as a regulator? Isn't it time to fully audit the Fed (per HR1207/S604), then dismantle them. Why yes, yet we can!

Mon, 03/15/2010 - 18:17 | 266388 Miyagi_san
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So will the Better Business Bureau call the consumer hotline too. For donations : press one.....all others please hold

Mon, 03/15/2010 - 18:51 | 266445 litoralkey
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anyone have additional analysis from trusted sources of Dodd's mark up bill ?


Particular interest in the liquidiation and resolution trust language and new bureaucracy in the bill.

Wed, 04/14/2010 - 09:45 | 299885 mark456
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