Friday, July 16, 2010

Wall Street Reform Bill Signing Ceremony

From Reuters:

The Congress on Thursday approved the broadest overhaul of financial rules since the Great Depression and sent it to President Barack Obama to sign into law.

By a vote of 60 to 39, the Senate passed a sweeping measure that tightens regulations across the financial industry in an effort to avoid a repeat of the 2007-2009 financial crisis.

Wall Street had fought bitterly to derail the legislation, which leaves few corners of the financial industry untouched. It establishes new consumer protections, gives regulators greater power to dismantle troubled firms, and limits a range of risky trading activities in a way that would curb bank profits.

"Unless your business model depends on cutting corners or bilking your customers, you have nothing to fear from this reform," Obama said. He is expected to sign the bill into law next week.

...Although Obama originally had hoped for bipartisan support for reform, only three Republican senators voted in favor of the bill, joining 55 Democrats and two Independents. One Democrat opposed it.

I have a question.

No doubt, there will be a signing ceremony.

Joe Biden will probably be there. Maybe, as was the case when Obama signed the government-run health care bill into law, Biden will introduce Obama. Then, they'll shake hands.

Here's the question: What will Biden say to Obama? What will he say into the open mic this time?

On the Biden "Big Deal" scale, how big is this bill?

Is it a "Big F---ing Deal"?

Not that big?

What will Biden say to the boss?

We'll have to wait and see.

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