Thursday, July 15, 2010

In Which Zandar Admits He Was Wrong

Yep.  I was wrong, the financial regulation bill actually passed today, as Harry Reid said it would.
It's done. The Senate this morning, by a vote of 60-39 passed the final version of Wall Street reform legislation -- the exact same version the House passed two weeks ago, which will now go the White House for a signature. Senate Majority Leader Harry Reid (D-NV) said that the President plans to sign the bill next week.

The development, though expected for days, represents a major achievement for President Obama and congressional Democrats -- their first landmark bill since health care. And this time it's actually popular.
Naturally, Orange Julius is already calling for the bill's repeal.
"I think it ought to be repealed," Boehner told reporters at a press conference Thursday morning. "I think the financial reform bill is ill-conceived. I think it's going to make credit harder for the American people to get -- clearly harder for businesses to get. And the fact that it's going to punish every banker in America for the sins of a few on Wall Street, I think is unwise. On top of that, I think that it institutionalizes "Too Big To Fail" and gives far too much authority to federal bureaucrats to bail out any company in American they decide ought be bailed out."
Yes, they hate Obama that much.  Now this law must be destroyed because Obama can claim victory.  Expect months of Rasmussen polls asking if the bill should be repealed and constant monitoring of the bill's popularity, as well as any negative economic news to be blamed on the bill once it's signed into law.

1 comment:

In Ur Blog Eatin Waffles (Accept no fail imitations) said...

eh honestly I don't care that it passed, it really didn't do much except allow politicians to more easily put pressure on companies they don't like for whatever reason. Other than that it really didn't accomplish much to prevent another financial collapse

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