It’s Friday and I get to rant a bit. Today, I actually have something to rant about and it’s simply my own confusion.
Yesterday, The US Senate passed a financial reform package that political experts say includes from tough new restrictions on the financial industry. Specifically, the lenders, mortgage folks, and places controls on high-risk derivative trading (those aren’t even wiping your butt with) among other things.
I have no idea what else in there as I, along with 98% of Americans out there, have not read the entire bill which numbers in the hundreds of pages.
Yeah…that’s a guess too.
I just want to know a few things. Is this going to make my ATM experience better or is it going to slap on more fees for me to get at my money? Is this bill going to increase short-term lending to companies who use this slightly more liquid credit market to hire more workers? Does this bill push companies (at least the public firms) who admittedly are sitting on record cash levels, from hiring more people and stop using the tight credit market as an excuse?
Right now, I don’t think so.
I get that Wall Street needs to be regulated more. Call it reform or whatever, but I don’t see it having an impact on most Americans. Right now job creation and I think forcing companies to hire when their current work force is already at the breaking point, is the thing to be focusing on.
Until that happens, everything else is just the same crap.
abc
FInancial Reform Passes Senate: People Still Jobless
It’s Friday and I get to rant a bit. Today, I actually have something to rant about and it’s simply my own confusion.
Yesterday, The US Senate passed a financial reform package that political experts say includes from tough new restrictions on the financial industry. Specifically, the lenders, mortgage folks, and places controls on high-risk derivative trading (those aren’t even wiping your butt with) among other things.
I have no idea what else in there as I, along with 98% of Americans out there, have not read the entire bill which numbers in the hundreds of pages.
Yeah…that’s a guess too.
I just want to know a few things. Is this going to make my ATM experience better or is it going to slap on more fees for me to get at my money? Is this bill going to increase short-term lending to companies who use this slightly more liquid credit market to hire more workers? Does this bill push companies (at least the public firms) who admittedly are sitting on record cash levels, from hiring more people and stop using the tight credit market as an excuse?
Right now, I don’t think so.
I get that Wall Street needs to be regulated more. Call it reform or whatever, but I don’t see it having an impact on most Americans. Right now job creation and I think forcing companies to hire when their current work force is already at the breaking point, is the thing to be focusing on.
Until that happens, everything else is just the same crap.
Check out more details of the bill here.