Dodd reform bill would reduce U.S. deficit -CBO

deminks

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Wed Apr-21-10 06:26 PM
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Dodd reform bill would reduce U.S. deficit -CBO

Source: Reuters

WASHINGTON, April 21 (Reuters) - The Democratic Senate financial reform bill would reduce the U.S. budget deficit by $21 billion over the next 10 years, according to a cost estimate by the Congressional Budget Office obtained by Reuters on Wednesday.

The estimated reduction in the budget deficit over the 2011-2020 period stems largely from charging the financial industry assessments for a fund to liquidate large, troubled financial firms, the office said.

Read more: http://www.reuters.com/article/idUSWEN319320100421

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high density

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Wed Apr-21-10 06:28 PM
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1. Sounds like a win-win piece of legislation

The Repukes will really be blasting it now. They don't want us to make any progress.

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Arkana

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Wed Apr-21-10 06:30 PM
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2. Hell yes.

Pass that motherfucker and put it on Obama's desk.

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nyy1998

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Wed Apr-21-10 06:59 PM
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3. That's great news

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quiet.american

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Wed Apr-21-10 08:18 PM
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4. K&R nt

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bvar22

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Wed Apr-21-10 08:22 PM
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5. The only problem with Dodd's "Reform" Bill.....

is that it:
* Won’t break up or reduce the size of too big to fail banks

* Won’t remove the massive government guarantees to the giant banks

* And won’t even increase liquidity requirements to prevent future meltdowns

http://www.nakedcapitalism.com/2010/04/guest-post-dodd-financial-reform-bill-is-all-holes-and-no-cheese.html

Dodd himself has said that this bill "will not stop the next crisis from coming".
I won't be breaking out the champagne and starting a "Mission Accomplished" Party over a "reform" bill that doesn't "REFORM".
Call me an "Old Fashioned Liberal."

"If we don't fight hard enough for the things we stand for,
at some point we have to recognize that we don't really stand for them."
--- Paul Wellstone

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LetsgoWings13

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Wed Apr-21-10 09:39 PM
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6. This will lay the ground work for future progress on it. i like it.

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dflprincess

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Wed Apr-21-10 10:26 PM
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9. They don't need to "lay the groundwork"

they need to reinstate Glass Steagall - with a few additions to cover things like derivatives and other scams the industry has come up with since it was repealed.

It is disingenuous to think that they need to start from scratch with this.

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Billsmile

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Wed Apr-21-10 09:56 PM
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7. Why Should The Profit Motive Trump Ending Crime Based Upon The Profit Motive?

Dodd's bill would be good if it made the rules of the game of commerce fair and equal for all (which it doesn't). Trumpeting the cost savings of the bill has no relation to how it resolves the problems of an unfair system. And the "money justifies it" slant on things seems like an embrace of the problem's source rather than a "fairness dictates that..." solution.

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niceypoo

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Wed Apr-21-10 09:57 PM
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8. DOH!!

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