We've known for over a year that real financial reform wouldn't happen.We knew that the proposed bill wouldn't do much.
We knew Congress was just pimping out the American people, and partying at our expense.
But it is still disgusting to see Congressman Barney Frank, Senator Chris Dodd and the rest selling out the American dream.
Shahien Nasiripour writes:
After nearly 20 hours over two final days filled with backroom dealing, House and Senate negotiators struck a grand compromise to merge the two chambers’ competing bills to reform the nation’s financial system in a party-line vote. But the long hours of closed-door meetings also appear to have fulfilled Wall Street’s greatest wish: Many of the measures that offered the greatest chances to fundamentally reshape how the Street conducts business have been struck out, weakened, or rendered irrelevant.
Bloomberg notes:
Legislation to overhaul financial regulation [won't] fundamentally reshape Wall Street’s biggest banks or prevent another crisis, analysts said.
The bottom line is that nothing has really changed ... the government is continuing to strengthen the parasite and poison the real economy.
Congress is still continuing to pimp out the American people to Johns who have insatiable lusts.
