Senator Feingold: The financial bill as it stands will not prevent another financial crisis.

Feingold Statement on Voting 'No' on Ending Debate on the Financial Regulatory Reform Bill

Wednesday, May 19, 2010

“After thirty years of giving in to the wishes of Wall Street lobbyists, Congress needs to finally enact tough reforms to prevent Wall Street from driving our economy into the ditch again. We need to eliminate the risk posed to our economy by ‘too big to fail’ financial firms and to reinstate the protective firewalls between Main Street banks and Wall Street firms. Unfortunately, these key reforms are not included in the bill. The test for this legislation is a simple one - whether it will prevent another financial crisis. As the bill stands, it fails that test. Ending debate on the bill is finishing before the job is done.”

In 1999, Senator Feingold was one of eight senators to vote against legislation tearing down the firewall between Main Street banks and Wall Street investment banks and insurance companies. In 2008, Feingold opposed the Wall Street bailout in part because it failed “to reform the flawed regulatory structure that permitted this crisis to arise in the first place.”


http://feingold.senate.gov/record.cfm?id=325079

Long may he fight for us.

:patriot:

'After finding Brown, he (Reid) put his arm around him and shook his head, then found Cantwell seated alone at the opposite end of the floor. He and New York's Chuck Schumer encircled her, Reid leaning over her with his right arm on the back of her chair and Schumer leaning in with his left hand on her desk.'

http://www.huffingtonpost.com/2010/05/19/two-dems-help-defeat-sena_n_582449.html

Wall Street? White House? Sometimes it's hard to tell the difference.:shrug:

than about doing something for the country.

The only difference is the thuggish tactic was being employed to establish a fundamentally sound, functioning program, whereas today it's being used to pass something that may not prove sound or functioning.

We need real reform.