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Dodd: No one will know until this is actually in place how it works
The Washington Post ^ | June 25, 2010

Posted on 06/25/2010 11:29:39 AM PDT by Southnsoul

House, Senate leaders finalize details of sweeping financial overhaul

By Brady Dennis Washington Post Staff Writer Friday, June 25, 2010; 12:26 PM

Key House and Senate lawmakers approved far-reaching new financial rules early Friday after weeks of division, delay and frantic last-minute dealmaking. The dawn compromise set up a potential vote in both houses of Congress next week that could send the landmark legislation to President Obama by July 4.

The final and most arduous compromise began to fall into place just after midnight. Sen. Blanche Lincoln (D-Ark.) agreed to scale back a controversial provision that would have forced the nation's biggest banks to spin off their lucrative derivatives-dealing businesses.

The panel also reached accord on the "Volcker rule," named after former Federal Reserve chairman Paul Volcker. That measure would bar banks from trading with their own money, a practice known as proprietary trading.

Lawmakers pulled an all-nighter, wrapping up their work at 5:39 a.m. -- more than 20 messy, mind-numbing hours after they began Thursday morning.

"It's a great moment. I'm proud to have been here," said a teary-eyed Sen. Christopher J. Dodd (D-Conn.), who as chairman of the Senate Banking Committee led the effort in the Senate. "No one will know until this is actually in place how it works. But we believe we've done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done."

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Front Page News; News/Current Events
KEYWORDS: 111th; bribed; cultureofcorruption; democrats; doddscandal; economy; payola
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1 posted on 06/25/2010 11:29:39 AM PDT by Southnsoul
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To: Southnsoul

Where did we hear that refrain before? (Bummercare)


2 posted on 06/25/2010 11:31:10 AM PDT by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
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To: Southnsoul

These freaks are so used to not knowing what is in a bill or understanding it that they just talk about it openly as if we all understand.


3 posted on 06/25/2010 11:32:13 AM PDT by Mere Survival (Mere Survival: The new American Dream)
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To: HiTech RedNeck; Southnsoul

Deem it passed ! Democracy works again !

Oh wait...


4 posted on 06/25/2010 11:32:13 AM PDT by Celerity
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To: HiTech RedNeck

Never let a good crisis go to waste, eh?


5 posted on 06/25/2010 11:32:37 AM PDT by RedCell (Honor thy Father (9/6/07) - Semper Fi / "...it is their duty, to throw off such government...")
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To: Southnsoul
Good Heavens.

Financial reform, Obamacare style.

Hang onto your wallets, folks! This is going to hurt!

6 posted on 06/25/2010 11:32:42 AM PDT by TheWriterTX (-)
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To: Southnsoul

This is one of the reasons we have to clean out the latrine that is Congress in November. Then we need to harass the former members in their private lives down to their graves for the harm they have inflicted on our country.


7 posted on 06/25/2010 11:32:50 AM PDT by thethirddegree
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To: Southnsoul

The Dems and This Nation’s Epitath.

VeeP ‘Bite Me!’ Agrees!


8 posted on 06/25/2010 11:32:53 AM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard)
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Comment #9 Removed by Moderator

To: Southnsoul

If this is how congress is passing laws, who the heck is running the country?


10 posted on 06/25/2010 11:32:56 AM PDT by farmguy
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To: Southnsoul
No one will know until this is actually in place how it works. But we believe we've done something that has been needed for a long time.

It's like having your doctor skip the diagnosis part and just start removing and adding organs to you, while kicking your dog and emptying your bank account.

11 posted on 06/25/2010 11:34:35 AM PDT by dead (I've got my eye out for Mullah Omar.)
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To: All
This is getting ridiculous, there has to be a way to stop these people from legislating... without even the ability to tell us what they passed.

We must find a way to demand they read and understand what they pass.

As Obama says— this is unsustainable!

We can no longer allow this.

12 posted on 06/25/2010 11:35:37 AM PDT by Irenic
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To: HiTech RedNeck

Thats what they said when they installed the oil well blow-out emergency shut off in the Gulf.


13 posted on 06/25/2010 11:35:51 AM PDT by Lockbar (March toward the sound of the guns.)
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To: farmguy

My theory:
A giant supercomputer is fed the current body of US law, including the Tax Code, and given several “keyword”/parameters. It churns and burns, taking sniplets and phrases from all over the law and assembling them together, and out pops a new, multi-hundred/-thousand page bill for Congress to sign.

This is why the only way to find out what is in the bill is to pass it and see what happens.
[/cynic]


14 posted on 06/25/2010 11:36:56 AM PDT by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: Southnsoul

You can find out how it works after it passes. I feel like Alice in Wonderland.


15 posted on 06/25/2010 11:38:16 AM PDT by ilovesarah2012
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To: Southnsoul

I am so sick of these people.


16 posted on 06/25/2010 11:38:46 AM PDT by WHBates
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To: NormsRevenge

Is this a a big bleeping deal according to the Veep?


17 posted on 06/25/2010 11:38:55 AM PDT by archivist007
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To: Lockbar

This was the same device that is commonly used in shallow water oil drilling. It just was an extraordinarily bad place for it to go kaput when it was needed.


18 posted on 06/25/2010 11:38:58 AM PDT by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
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To: Tzimisce; Admin Moderator; darkwing104; Old Sarge
Not quite *SNIFF* as he is not a n00b, but all the same, please re-read post #9 this thread.

Cheers!

19 posted on 06/25/2010 11:39:41 AM PDT by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.)
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To: Southnsoul

Culture of corruption

“TRUST ME”


20 posted on 06/25/2010 11:40:13 AM PDT by a fool in paradise (I wish our president loved the US military as much as he loves Paul McCartney.)
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Comment #21 Removed by Moderator

To: Irenic

Why doesn’t Congress have a bigger audience when things like this happen. The entire audience should break out into riotous laughter.


22 posted on 06/25/2010 11:41:46 AM PDT by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
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To: Southnsoul
How the "deal" was made.



23 posted on 06/25/2010 11:43:16 AM PDT by Diogenesis (Article IV - Section 4 - The United States shall protect each of them against Invasion)
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To: Southnsoul

In other words: “We ain’t got a clue folks.”


24 posted on 06/25/2010 11:44:20 AM PDT by Bobby_Taxpayer (Don't tread on us...or you'll pay the price in the next election.)
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To: Southnsoul

Imagine speaking these words when presenting your blueprints for a skyscraper.


25 posted on 06/25/2010 11:47:12 AM PDT by Psycho_Bunny (Hail To The Fail-In-Chief)
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Comment #26 Removed by Moderator

To: archivist007

I seriesly doubt he gives much thought to anything.. He’s in his own world.


27 posted on 06/25/2010 11:47:34 AM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard)
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To: Southnsoul; All
"Dodd: No one will know until this is actually in place how it works"

Photobucket

28 posted on 06/25/2010 11:47:55 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: OneWingedShark

I’m more partial to the infinite number of monkeys on an infinite number of typewriters theory myself. The reason that the laws are coming up with are so flawed is because of truncation errors due to the fact they were unable to obtain an infinite number of either monkeys or typewriters.


29 posted on 06/25/2010 11:48:12 AM PDT by farmguy
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To: Southnsoul

“It’s a great moment. I’m proud to have been here,” said a teary-eyed Sen. Christopher J. Dodd (D-Conn.), who as chairman of the Senate Banking Committee led the effort in the Senate. “No one will know until this is actually in place how it works. But we believe we’ve done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done.”

It seems that my impression of Senator Dodd was correct. As he gladly helps preside over the death of his country, he laughs wickedly, contemplating further debauching of his poor, abused oath of office. There is a word: EVIL. All who consented to and participated in this act have committed it.


30 posted on 06/25/2010 11:48:13 AM PDT by sayuncledave
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To: Psycho_Bunny

“The only way to know if the architecture is sound is to build it!”
...I would fire that architect IMMEDIATELY.


31 posted on 06/25/2010 11:49:11 AM PDT by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: musicman

The Dems

a One Note Party .. Shrill!


32 posted on 06/25/2010 11:49:51 AM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard)
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or should that be ‘shill’.. *-?


33 posted on 06/25/2010 11:50:33 AM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard)
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To: Diogenesis

What were they doing in there such that fwank has to pull up his pants after wards? Enquiring minds want to know.


34 posted on 06/25/2010 11:52:10 AM PDT by farmguy
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To: Mere Survival

Such an awesome achievement, it makes a grown up lawmaker cry.

Yet he doesn’t really understand the bill, know what is in it, or what will happen until it is in place.


35 posted on 06/25/2010 11:53:10 AM PDT by ecomcon
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To: HiTech RedNeck

I’m not sure of much any more but I am certain that they no longer govern, they dictate.


36 posted on 06/25/2010 11:54:21 AM PDT by Irenic
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To: New Perspective
Photobucket
37 posted on 06/25/2010 11:54:31 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: Southnsoul

A simple (and rhetorical) question. If they don’t know how this is all going to work out how is it they’re calling it an historic fix to Wall Sts. problems/corruption? It seems to me one would have to be the defn of gall to make such a pronouncement in lieu of the facts. Pls explain why these people are being taken seriously?


38 posted on 06/25/2010 11:54:49 AM PDT by 556x45
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To: farmguy

>I’m more partial to the infinite number of monkeys on an infinite number of typewriters theory myself. The reason that the laws are coming up with are so flawed is because of truncation errors due to the fact they were unable to obtain an infinite number of either monkeys or typewriters.

LOL - And here I was going to attribute it to the instability of using floating-point numbers that are both very big and very small at the same time....

Ex: suppose you have 20,000,000 [20 mil] and you add .000,000,000,1 [1 mil ^-1] the result could well be... 20,000,000, because the floating point doesn’t have the precision required to represent the number 20,000,000.000,000,000,1


39 posted on 06/25/2010 11:54:55 AM PDT by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: Southnsoul
"It's a great moment. I'm proud to have been here," said a teary-eyed Sen. Christopher J. Dodd (D-Conn.), who as chairman of the Senate Banking Committee led the effort in the Senate. "No one will know until this is actually in place how it works. But we believe we've done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done."

Ugh. Has Dodd been hanging out with Nancy Pelosi? I wonder what kind of offspring a crossing of the two of them would produce - Rosemary's Baby?

40 posted on 06/25/2010 11:55:47 AM PDT by Truth29
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To: Southnsoul

It took a crisis to bring us to the point where we could actually get this job done.”

Kiss your ass goodby America.


41 posted on 06/25/2010 11:56:45 AM PDT by tet68 ( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
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To: NormsRevenge

IMHO...they BOTH work for me!!


42 posted on 06/25/2010 11:56:50 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: Truth29

>Ugh. Has Dodd been hanging out with Nancy Pelosi? I wonder what kind of offspring a crossing of the two of them would produce - Rosemary’s Baby?

At first I read that as “Romney’s Baby”...


43 posted on 06/25/2010 11:57:45 AM PDT by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: farmguy
"What were they doing in there such that fwank has to pull up his pants after wards? Enquiring minds want to know."

Photobucket

44 posted on 06/25/2010 11:58:44 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: Southnsoul
"No one will know until this is actually in place how it works. But we believe we've done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done."

I'm amazed...they're being honest. If there is any good that comes out of this, it will be that some recognize that "The Government is not here to help you," in fact doesn't have a clue about what they regulate.

45 posted on 06/25/2010 12:04:17 PM PDT by gogeo ("Every one has a right to be an idiot. He abuses the privilege!" Groucho Marx)
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To: Southnsoul
"Dodd: No one will know until this is actually in place how it works "

Pelosi (on obamacare)"We'll have to pass it to see what's in it."

How many times will we fall for this br'er rabbit routine?Everything any democrat has suggested has been a monumental failure, from stimulus bills, to bailouts, to cash for clunkers.

The gulf is full of "tar babies" and we're supposed to line up behind br'er fox and spend more tax money on failed policies.

Dodd, you and the whole bunch can go straight to hell...and I hope we take both houses and investigate you all the way to jail...you and bwany fwank can be bunk-mates.

We are seeing more and more of what's in obamacare since they passed it...and no one...NO ONE (except the stupid moocher class) likes it.

Dodd is one of the fools that helped wreck our economy...will be rely on him to fix it?

mortgagate


46 posted on 06/25/2010 12:09:40 PM PDT by FrankR (Standing against tyranny must start somewhere, or the future belongs to the tyrants.)
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To: Southnsoul

And another qustion, if know one will know how it works until it’s in place, THEN HOW THE F**K DO YOU KNOW HOW IT WORKS?


47 posted on 06/25/2010 12:11:12 PM PDT by FrankR (Standing against tyranny must start somewhere, or the future belongs to the tyrants.)
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To: Southnsoul

The ignorance, the stupidity and the incompetence that is walking the Halls of the U.S. Congress is absolutely breathtaking. And it may cause our death, very shortly.


48 posted on 06/25/2010 12:11:25 PM PDT by mulligan
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To: OneWingedShark
Use 64-bit arithmetic.

Think Cray.

Cheers!

49 posted on 06/25/2010 12:23:58 PM PDT by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.)
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To: Southnsoul

Pass it to find out whats in it.

Exempts unions and outlaws conservatism no doubt.


50 posted on 06/25/2010 12:25:07 PM PDT by GeronL (Political Correctness Kills)
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