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.
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What do you think will happen if the bill does not become a law ?
ReplyDeleteThis bill is actually a very controversial one. Some believe that there is no bank "too big to fail" or that the banks that are too big will only drag down our economy. It seems from your last paragraph that you support this bill. What would you tell the people who say that this bill will not help our economy?
ReplyDeleteDo you think the ideaology of the toxic assests that may have contributed to our current economic meltdown had something to do with this rare bipartisan ocurring in Congress right now? If not what factors have led to this united front in our country's capital?
ReplyDeleteDo you think that this bill is the solution to our current economic status? Why or why not?
ReplyDeleteDo you know specifically any proposals that were in the bill that would specifically help our economy?
ReplyDeleteHow do you feel about the bill? Do you believe that it is the best possible solution to end the reccession?
ReplyDeleteTo answer Tatiyana's question… If the bill becomes law I believe it will greatly benefit our economy. For example the banks will not be able to invest our money into any organizations that they want.
ReplyDeleteTo answer Kristin's question... I don't that this bill is the best possible solution to end our current recession because what is done is done and I feel that the main thing to solve it is to boost faith in our economy by creating more jobs thus increasing spending power.
To answer Taylor's question... Yes I do think the "toxic assets" contributed to rare bipartisanship present in Congress right now. The recession affect a great deal of people in many classes so they would have to come together to solve this problem.