Obama Signs Sweeping Financial Overhaul, Pledges 'No More' Bailouts

[Hawkeye]

http://www.foxnews.com/politics/2010/07/21/obama-poised-sign-sweeping-financial-overhaul/

[quote]Obama Signs Sweeping Financial Overhaul, Pledges 'No More' Bailouts

Published July 21, 2010
FoxNews.com

Pledging "no more" Wall Street bailouts, President Obama on Wednesday signed into law a sweeping overhaul of financial regulations, saying the complex measures would ultimately help consumers make better decisions and help keep the economy out of serious trouble.

The president called the law the "strongest consumer financial protections in history." He said the law would ensure that taxpayers "never again" have to foot the bill for Wall Street's mistakes.

"There will be no more tax-funded bailouts

[Bearman202]

The real problem with this thing, as far as I've been able to learn, is that NOBODY knows what it really contains, other than EXPANDING the powers of the Federal Reserve. Folks, that is NOT good news. Apparently, as a result of this bill, regulatory agencies, (read: nobody voted for them, and they ALL have an agenda) are going to "be forced" to enact new regulations. In other words, hang on to your wallets, folks.

[Buster]

And Fannie and Freddie still get a "get out of jail free" card if what I heard is correct