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Senate passes financial bill

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Powerfull
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Posted on Thursday, July 15, 2010 - 03:45 pm:       

615 Trillion?

SEC will gain new authority to regulate the $615 trillion over-the-counter derivatives market.
 

Cocanada
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Posted on Thursday, July 15, 2010 - 03:43 pm:       


Veeche gaali andari kosam. Vana megham dachukodhu tana kosam
Surya kanthi andari kosam. Chandra jyothi eragadu ye swaartham
 

Ashton
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Posted on Thursday, July 15, 2010 - 03:41 pm:       


Vijay77:


Alright, Mortage companies anni strict rules follow avvali..They have to check income history,credit history,employment status and again banks/credit unions have to verify all these things..

COming to credit cards, when a new person applies for a credit card, they'll have some benefits like free credit history report, lowering the interest amt on the amount you spend using your credit/debit card ....


It's all just to boost the consumer spending....and prevent from financial doom/collapse..
 

Powerfull
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Posted on Thursday, July 15, 2010 - 03:38 pm:       

Em work avvuddo emo kani, gotta give credit to Obama for trying with all these reorms.
 

Vijay77
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Posted on Thursday, July 15, 2010 - 03:32 pm:       


Ashton:



Nippuki vochina doubt naakkooda vachindi.
Ala economist languagelo kaakundaa, common man language lo cheppu.
Asalu ee bill enduku? Deeni valla naaku, naa jobki, companieski emi laabham.
 

Ashton
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Posted on Thursday, July 15, 2010 - 03:30 pm:       


Nippu:

konchem moodu mukkallo.


Just go through my second post in this thread...you'll get it...
 

Chiru786
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Posted on Thursday, July 15, 2010 - 03:28 pm:       

next immigration reform ...
 

Nippu
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Posted on Thursday, July 15, 2010 - 03:27 pm:       

konchem moodu mukkallo.

aa reform or bill valana manaki impact enti seppu.
 

Ashton
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Posted on Thursday, July 15, 2010 - 03:25 pm:       

What reform means:

The legislation would establish a Consumer Financial Protection Bureau inside the Federal Reserve that could write new rules to protect consumers from unfair or abusive practices in mortgages and credit cards.

The bill creates a new council of regulators, lead by Treasury, that would set new standards for how much cash banks must keep on hand to prevent them from ever triggering a financial crisis. It would also establish new procedures for shutting down giant financial firms that are collapsing.

The measure would put new limits on Wall Street banks' speculative bets for their own accounts and their ability to own hedge funds, while leaving the door open for some investment activities.

The bill aims to shine a brighter light on some complex financial products, called derivatives, that are blamed for exacerbating the collapse of financial companies such as American International Group (AIG, Fortune 500) and Lehman Brothers.
 

Ashton
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Posted on Thursday, July 15, 2010 - 03:24 pm:       

Vote 60-39!


http://money.cnn.com/2010/07/15/news/economy/Wall_Street_ref orm_bill_vote/index.htm?cnn=yes

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