Financial Reform Bill

The Financial Reform Bill is a step toward a corrective action which we all take in order to establish better regulatory system which would prevent future economic and financial scams and manipulation which we are facing.



Even though some would see a hopeful sign, after real understanding financial, economical, and geopolitical history of money manipulation of the global affairs using the United States, it is evident that we are seeing another financial and political drama decoy while financial markets are defrauding trillions out of Treasuries around the world? This can be seen accumulating national debts around the world -- the scam of the mega money for centuries. Financial market bubble/burst is one of tools which the G-20 plays controlled by the big money.

The House approved a legislative package of historic sweeping financial reforms Friday, but the vote in the Democratically-controlled chamber was closer than many had predicted.

The 1,300-page "Wall Street Reform and Consumer Protection Act" was approved by a 223-202 margin, meaning more than a few of the 262 Democrats in the House joined Republicans in opposing the landmark legislation.

• The bill would create an inter-agency council to police systemic risk in the economy, crack down on hedge funds and credit rating agencies, set up a financial consumer watchdog agency, and expose Federal Reserve monetary policy to unprecedented congressional scrutiny, among other reforms.
  http://www.cnbc.com/id/34392810

• The House bill, which passed 223-202, would grant the government new powers to split up companies that threaten the economy, create an agency to oversee consumer banking transactions and shine a light into shadow financial markets that have escaped federal oversight.

  Obama is seeking swift approval in the Senate "because we should never again find ourselves in the position in which our only choices are bailing out banks or letting our economy collapse."

  No House Republicans voted for the bill, and 27 Democrats voted against it. Opponents argue that the broad legislation overreaches and would institutionalize bailouts for the financial industry.
  http://www.google.com/hostednews/ap/article/ALeqM5iYtNL5lW4aWyBZwwcea4m0jzJCgAD9CHQGPG1
  

http://www.cnn.com/video/#/video/showbiz/2009/12/11/nat.nobel.peace.prize.concert.cnn