What the Financial Reform Bill Means for You (Page 1 of 6)
Categories: Banking Credit Smarts Family & Money
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On Friday, Congressional negotiators actually AGREED on something as they hammered out their differences on financial reform legislation—in the form of a 2,000 page bill.
Alan Abelson, of Barron’s, may have summed it up best when he wrote…”It took the Senate and House negotiators 20 hours, working through the night, to hammer out the final measure. We can only conclude that the eats and Scotch must have been really great.”
So from the same DC team the brought you "Cash for Clunkers," a dubious healthcare reform package ("We'll read it after we pass it") and the home mortgage disaster (thanks, Fannie and Freddie) comes financial reform regulation.
The reform legislation comes TWO YEARS after the U.S. financial system teetered on the verge of collapse.
We call it "The horse is already out of the barn" agreement !
Everyone is calling it the "biggest overhaul of financial regulations since the Great Depression."
But is the spin true? Let’s look at what’s in the financial reform bill and what it really means for you.



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