Washington Post: House, Senate leaders finalize details of sweeping financial overhaul

Posted by Kendall Harmon

"It's a great moment. I'm proud to have been here," said a teary-eyed Sen. Christopher J. Dodd (D-Conn.), who as chairman of the Senate Banking Committee led the effort in the Senate. "No one will know until this is actually in place how it works. But we believe we've done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done."

Read it all.

Filed under: * Culture-WatchLaw & Legal Issues* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeStock MarketThe Banking System/SectorThe U.S. Government

4 Comments
Posted June 25, 2010 at 8:30 am [Printer Friendly] [Print w/ comments]



1. AnglicanFirst wrote:

“No one will know until this is actually in place how it works. But we believe we’ve done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done.”
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

“No one will know until this is actually in place how it works.”

That scares me.  Its sort of like wandering around a nuclear reractor and flipping switches, pushing buttons and turning knobs without knowing what the consequences will be.

“But we believe we’ve done something that has been needed for a long time.”

Or, we’ve achieved a long-term ideological goal under the guise of ‘rushing to the rescue.’

“It took a crisis to bring us to the point where we could actually get this job done.”

Oh yes, if judiciously used, a ‘crisis’ can be utilized as a ‘change agent.’

June 25, 9:25 am | [comment link]
2. Daniel wrote:

Let’s see; it took 35 years from Roosevelt’s takeover to Reagan’s rollback.  Hopefully we can shorten the period this time before Dodd and his ilk totally destroy the country.

Just this morning I see the Obama regime has appointed the former police chief of Houston and Phoenix, who is an ardent “sanctuary city” proponent to head up the Immigration and Customs Enforcement’s Office of State and Local Coordination.  I’m beginning to believe that they really mean to use an executive order to grant blanket amnesty to illegal immigrants because they know they can’t ram it through Congress.

I am more scared about this country than I have ever been.  I know the Bible says we shouldn’t worry about tomorrow, and our current situation in this country is making a good test case of applying this principle.

June 25, 10:31 am | [comment link]
3. Katherine wrote:

I suppose it’s possible Dodd meant, “No one will know until this is actually in place how well it works.”  But based on the health care bill, whose nightmarish proportions are now becoming apparent as regulations are promulgated, and on the previous post-Enron “fix” which has cost many millions in wasted effort, I am not optimistic.  And it doesn’t seem to rescind a core problem, the government’s subsidizing of mortgages for people who cannot afford them.

June 25, 12:25 pm | [comment link]
4. Branford wrote:

Just like Rep. Pelosi said “we have to pass the health care bill to know what’s in it” - and we’ve seen now some of the “unintended” (?) consequences of that. What a pathetic statement from someone who should have been removed from this committee for ethics violations (Countrywide, anyone?).

June 25, 1:17 pm | [comment link]
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