"End of more than a generation of Washington hands-off admiration toward the financial industry"

[impik]

The Senate voted, 60 to 39, to approve an overhaul of the financial regulatory system on Thursday, heralding the end of more than a generation in which the prevailing posture of Washington toward the financial industry was largely one of hands-off admiration.

President Obama intends to sign the bill sometime next week, marking completion of another landmark piece of legislation, following the enactment of the historic health care bill in March and last year’s major economic stimulus program.

But like those other laws, the passage of a new regulatory regime hardly guarantees it will be effective. And, despite lingering public anger at Wall Street, the political implications for this year’s hotly contested midterm elections are far from certain. House and Senate Republicans voted resoundingly, and confidently, against it.


http://thecaucus.blogs.nytimes.com/2010/07/15/congress-passes-bill-to-overhaul-financial-regulation/?hp

[Ken Burch]

1. So now it's hands-on admiration?

Ah, the joys of another "victory-in-name".

Perhaps someday, before we all die, we'll pass bills that aren't meaningless.

You can dream, I guess.

Another great day for the "it's enough to pass something CALLED a ______ bill".

[inna]

2. LOL, I missed that part! Exactly, that's the only way to interpret -

"the end of hands-off admiration, the beginning of hands-on admiration"!

[Ken Burch]

4. And I'm fairly sure lotion of some kind will be involved!

n/t.

[inna]

5. LOL! Stop it! nt

[Sebastian Doyle]

3. Exactly

The "Federal" Reserve regulating banksters is just like the Catholic church regulating pedophiles.