Republicans De-Funding Dodd-Frank Financial Reform Bill

And so, in 2010, the Obama Administration nudged through Congress the Dodd-Frank financial-reform bill, which was designed to put real cops, with real regulatory heft, on the financial beat. And now, in 2011, the Republican House seems intent on quietly gutting the bill under the sordid camouflage of budget cutting. "They're defunding the police after we had the biggest bout of looting in history," an Administration official told me. "That's just crazy." end quote.
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"It's a back-alley maneuver," says Representative Barney Frank, whose name is on the law. "Unlike health care or environmental regulation, the Republicans didn't try a frontal assault. They hid behind the budget, which means that they're embarrassed by this. They don't want people to know that they're letting Wall Street off the hook." end quote.
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And then there's the question of Elizabeth Warren, the Harvard law professor who invented the idea of the Consumer Financial Protection Bureau and should be its first director. The Administration seems undecided on whether to appoint her, fearing a Senate confirmation battle that could last for months. "The banks are scared to death of her," one Senator told me. "She speaks in clear, simple sentences. That terrifies them."
Which means this is a fight worth having — and a way to dramatize the complicated issues at the heart of regulatory reform. The President should appoint Warren. The Senate should be forced to vote on her, so the public will know who really wants to clean up Wall Street and who doesn't. end quote.

Read more: http://www.time.com/time/nation/article/0,8599,2056587,00.html#ixzz1G2uKr59P

So, there really are people ready to reform Wall Street and the Banks available to the general public. Unfortunately the general public is so concerned about the details it doesn't seem capable of addressing the real problems.

It is sort of like your child just crashed his bicycle in the middle of the road and you are upset. However,  here comes a car that will kill you both and you just don't see it! This is my interpretation of the American public after the last few years. Too much information and none of it directly relates to the ultimate survival of themselves or their nation!

Read more: http://www.time.com/time/nation/article/0,8599,2056587,00.html#ixzz1G2u2zPE8

Read more: http://www.time.com/time/nation/article/0,8599,2056587,00.html#ixzz1G2tgoTWL