Friday, May 21, 2010

Senate Passes Faux Financial "Reform" Bill

Senate Passes Faux Financial "Reform" Bill; Washington's Blog

The Senate passed a financial "reform" bill today by a 59-39 vote which won't fix any of the core problems in the financial system, and won't prevent the next financial crisis.

The bill doesn't include the Volcker Rule (it wasn't even debated), doesn't break up or even substantially rein in the too big to fails, and doesn't force transparency in the derivatives market.

Read the whole post here.

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