Housing Hack Senator Chris Dodd Announcing Banking Scheme

On Monday,  Friend of Angelo Mozillo Sen. Chris Dodd(D-CT) unveil a major financial reform scheme which puts tighter controls in the banking industry and move some regulatory  power to the Federal Reserve Bank.

Dodd who is the head of Senate Banking Committee, release 1336 pages covers nearly everything involving the world of finance including small community banks, to Hedge Funds, and everything in between.

“Americans are frustrated and angry, as we all know,” Dodd said. “They’ve lost faith in our markets, and they wonder if anyone is looking out for them.”

The plan would break up banks, shut down banks that are too big to fail. It would follow the Volcker Rule which name for Former Federal Bank Chairman Paul Volcker. Volcker Rule would prohibit banks from during certain trades; Stop deposit  banks from making risky bets and hedge-fund investments.

AP via My Way News has the rest of the story.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s