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Dems reach deal to rewrite financial rules

Fri, June 25, 2010

Congressional Democrats adjourned late into the night with an agreement on how to shape the nation's financial and banking industries.

The legislation would redraw how money flows through the U.S. economy, from the way people borrow money to the way banks structure complicated products like derivatives. It could touch every person who has a bank account or uses a credit card.

When asked regarding the impact of the legislation, Senator Chris Dodd, commented, "No one will know until this is actually in place how it works."

#1. Posted by Paige McCall on June 25, 2010

Well that’s just great. Let’s just do a test run with the American people’s money…

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