Regulatory reform goes one step backward by Zivka Deleva

Three “friend” from his party disappointed President Barack Obama, after they didn’t say yes to his new regulatory financial bill. The US Senate voted 57-41 to open debate, and if three more politicians gave their right to vote for Obama’s idea, the bill could take a new step and get closer to the final form. This is the biggest financial reform that US government is preparing, after the 1930’s when the Great Depression took place. One thing is for sure, the most politicians, no matter what party they belong, they want more severe politics and rules for the US banks. They were inspired to this step, after it turned out that the banks were the ! once to be blamed for the big economical recession from 2008. "I am deeply disappointed that Senate Republicans voted in a block against allowing a public debate on Wall Street reform to begin. Some of these Senators may believe that this obstruction is a good political strategy, and others may see delay as an opportunity to take this debate behind closed doors, where financial industry lobbyists can water down reform or kill it altogether," said Obama. Republicans that didn’t vote, say that they are not against the bill, but need some more time for more talks. Democrats are looking forward to work together with their opposition rivals, because it is very important for the reform to be brought as it should be, especially for the middle-class families. And they are not something to be negligible. The “combing” after the businessmen and banks that were the most responsible about the world economic crisis started few weeks ago, after few Goldman Sachs execut! ives packed their things and left the company. One thing is f! or sure, Wall Street gentlemen must be tight very well, because the world depends on their know-how of dealing with money.

by Zivka Deleva for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.