Monday, June 28, 2010

Support the Wall Street Reform Bill H.R. 4173

Tired of Wall Street doing whatever they want and then leaving it for the taxpayers to clean up when it goes bad? Support this bill. The republicans are looking to defeat it. Again I'm not supporting one party here, merely what I think is in the best interests of the U.S. If you agree pick up the phone and call your Senators. Especially if they are Republican.

some highlights:

protect consumers by creating an independent consumer financial protection agency to end the rip-offs and get rid of the most outrageous financial products, like the "exploding mortgages" that helped cause the financial crisis

end the bailouts by setting up procedures to wind down failing financial institutions by making the banks—not the taxpayers—foot the bill

limit the risky practices that got the banks into so much trouble, and makes banks set aside more money as a cushion in case things go wrong.

shut down the "shadow markets" by cracking down on the backroom trading that put our economy at risk. Unlike the stock market, these "shadow markets"—where trillions of dollars of "derivatives" are traded each year—are currently secret, highly risky, and virtually unregulated.

Pick up the phone tomorrow and call your House Rep and Senators. Here are the NY Senator phone numbers:

Senator Charles Schumer
Phone: 202-224-6542

Senator Kirsten Gillibrand
Phone: 202-224-4451

Find your Seanator here if you are not in NY

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