Preventing Failure

Terms

Overhaul- Overtake or overall repair

Financial Regulatory System- Financial regulations are a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions

Bipartisan- A two party system

en.wikipedia.org/wiki/Financial_regulatory_system and www.babylon.com/define/35/Economics-Dictionary.html


The bill to prevent another recession from happening again is getting closer to becoming law. The Democratic and Republican parties are working together to make the bill beneficial for both parties also to make sure both of their views and ideas are expressed represented in the 1,300 page long bill. They are making two or more improvements.
They are trying to put financial restrictions on the banks and make it so that no bank will be “too big to fail” because right now the bill is said to give “too much financial flexibility.”. By putting financial restrictions on the banks they will be unable to make risky investments that will put us in the same predicament that we were in two years ago when the stock market crashed. Senator Sherrod Shelby said that we need to get rid of the “casino atmosphere” on Wall Street “where they’re gambling basically on synthetic ideas and so forth, with somebody else’s money, putting banks and our whole banking system at risk and producing nothing.”.
If this bill becomes law it would be very beneficial to the stockholders, consumers, and the banks. It will keep our economy safe and protect the people. People in power will not be able to make decisions with our money that will negatively effect us in the long run.