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House OKs sweeping bank rules





deanhills
Wow, this Bill beats the new Healthcare Reform Bill in size. More than 2000 pages long. If the world of finance in the US is not complicated enough. But is this going to solve the problem or create more problems? I don't see anything about greater transparency in financial reporting for example. Also, no curb on the size of the Big Banks. The fact that they were so big was one of the reasons why so many people were vulnerable at the same time and they had to be bailed out. Also, the larger a Bank the easier it is to hide its statements.

What does this mean?
Quote:
And the entire financial system would be placed on a risk watch in hopes of thwarting the next threat of a financial crisis.

I.e. if stocks start to fall by a certain margin in Wall Street, that the stock market will be closed?

Wonder how good it can be for the economy to control it like this?

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