Friday, May 21, 2010

Wall Street Bailout Bill-Bank Bailouts - #1761 - Mark Warner Spins on the Economy, Financial Reform" - Tertium Quids

Mark Warner Spins on the Economy, "Financial 'Reform" - Tertium Quids- The commonwealth's junior Senator believes the Dodd bill to slap even more regulations on the financial sector is just what America needs, in part, because no one wants to see a replay of TARP. Neither he nor any of the great minds on "Morning Joe" so much as whisper about the ongoing, and increasingly expensive, bailouts of Fannie Mae and Freddie Mac. Not that Warner supports using the current bill to stop these rolling disasters, having voted against an amendment that would have cut the bailout cord. And he's upbeat on the job market, too, despite an uptick in unemployment. Those aren't the numbers we should be looking at, Warner believes. In other words Warner's entire interview can be distilled into Obi-Wan Kenobi-speak: "These aren't the droids you're looking for. Move along."  I called Senator Warner's office on this Bill as well, and as always Mark Warner is so out-of-step with Virginian values, I can't believe he will not run again until 2014.  Has anyone seen Warner outside of Washington, anyone, anyone, .....responding to his constituents?

Senate Democrats Pass Bill Allowing Government to Collect Addresses, ATM Records of Bank Customers - CNS News -   Senate Democrats united to pass a financial regulatory bill that allows the government to collect data on any person operating in financial markets at any level, including the collection of personal transaction records from local banks, including customers’ addresses and ATM receipts.  The Senate voted 59-39 on Thursday to pass the bill – the chief aim of which is to more-heavily regulate the financial industry – sending it to a conference committee in the House of Representatives, where differences between the House and Senate versions will be ironed out.  The bill, if it becomes law, will create the Bureau of Consumer Financial Protection and empower it to “gather information and activities of persons operating in consumer financial markets,” including the names and addresses of account holders, ATM and other transaction records, and the amount of money kept in each customer’s account.  Read more..........  Thank you Jim Webb, Mark Warner, Scott Brown and Tom Perriello.

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