Senate Passes Landmark Financial Reform Bill

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SEC no longer subject to freedom of information act?
how does that make consumer protection stronger.
thanks for the new financial reform bill sound now!

me of ME 10:16AM July 28, 2010

We received letter from our Representative Barbara Lee on the day FinReg passed through the Senate, stating that there is nothing her office will be able to help us. Clearly, FinReg means nothing to her. What a joke about rebuilding the integrity of our financial system and protect American general public!
We filed complaints against Wells Fargo 's appraisal and mortgage loan fraud with Office of Comptroller of Currency, Barbara Lee, Dianne Feinstein, Barbara Boxer and Harry Reid in 2006. In 2006, with overwhelming evidence, we were told that Wells Fargo did not commit appraisal and mortgage fraud against us.
We spent 10 months from June, 2006 to March, 2007, trying to convince everyone that Wells Fargo made the mortgage loan to us based on hugely inflated appraisal. No one cared or bother to listen.
In March, 2007, after clearly indifference from Wells Fargo and our regulatory agencies, we filed the lawsuit against Wells Fargo and continued to follow up with OCC and senators. After we filed the lawsuit, OCC and all senators told us that they can't make any comments on our complaints since it is in litigation.
The irony is that should Senators made sure OCC do its regulatory job, we don't even need to file lawsuit. On top of it, should OCC take action upon our alerts two years before the housing crisis, how many homes could have been saved. How many wrongful foreclosure could have been prevented?
All our senators voted for FinReg, but none of them cared about homeowners beig defrauded by Wells Fargo and have no intention to protect homeowners like us or future victims or hold Wells Fargo accountable for defrauding homeowners.
Wells Fargo committed prosecutable crime against us. We lost our home. Something is wrong with this picture. Here are the facts.
1. it is illegal for Wells Fargo to make mortgage loan to us based on hugely inflated appraisal.
Fact: - Wells Fargo's fraudulent appraisal valued our home at $718,000
- Wells Fargo's own review appraisal valued our home at $475,000
- Nevada Attorney General's office suspended the appraiser's license for committing appraisal fraud on our home.
- Nevada Appraiser Licensing Board mandated the appraiser to complete appraisal fraud course before regaining his real estate appraiser license.
- Nevada Revised Statue NRS 205.372 states that it's category C felony to make mortgage loans based on fraudulent appraisal.
- Cases of Attorney General's indictments against attorneys, loan brokers for teaming up make fraudulent loans to defraud homeowners.
2. it is illegal for Wells Fargo to wrongfully foreclose our home based on fraudulent appraisal and mortgage loan.
You can find all the facts on our website. www.wellsfargomortgagefraud.com.

Donna of NV 12:38AM July 19, 2010

REPUBLICAN LAWMAKERS TAKE YOU FOR A FOOL AND WOULDN'T HELP THE PRESIDENT GROW THE ECONOMY
These Republican lawmakers were born of wicked genes. They are the true DARK MASTERS of this world. All they think about is themselves. What surprises me is that so many Americans haven't figured this out and are still buying their heap of nonsense. I say to those Americans, WAKE UP! Even Abbe Lincoln said, you can fool some of the people some of the time and all the people some of the time but not all the people all the time. These selfish Republicans who are using the Senate as their retirement home have outlived their usefulness. They take you for a fool because you have refused to think for yourselves. Use your head, folks. They think you will never figure out their game and what they are up to. They don't care about the poor, the unemployed, the middle class. They say they would give money to restart the economy using the deficit as their escuse; but they are insistent on adding another trillion dollars to the deficit for their tax cut for the rich where many of them belong. They clearly don’t think of deficit or country. They are all about theselves—nothing else! Can’t you see this? They receive their pay for doing nothing in the Senate other than saying no. You don’t have to do any work for that. They refuse to present policy ideas or plans. They are neither for you nor for the country!

Dr. Sam of CA 3:16PM July 18, 2010

...Let's hope not and the agency created can maintain a very careful watch and fix along the way what isn't working so we don't ever have another financial crisis.
Congrats to Congress for getting together and doing something for America. And to those that are still sitting on their bipartisanship and padding their pockets I hope the American people will go to the polls next election.
Regards to Chris Dodd for his service; I will tweet him also.

sjb1721 of MO 11:25PM July 17, 2010

Good job, Congress.
But we need more. To restore stability in our financial markets, we need the next Congress to complete financial reforms that we have started with this bill.
Reinstate Glass-Steagal - McCain and Cantwell's bill to reinstate the Glass-Steagal ban on banks casino activities. Confidence in our banking will not be restored until we clamp down on the bank gambling problem. McCain won't get back to work until after the election.
We need to prevent another collapse by returning to a well regulated financial industry. Recognize the fifty years of unparalleled economic growth following FDR's financial reforms up til the deregulation mob was able to remove enough laws that destabilized the economy that caused the crash of '08 and our current recession. FDR's FDIC was one of the only firewalls that check the freefall in 2008 and prevented a complete collapse.
If folks are really looking for fiscal responsibility, let's get a Congress that will finish financial reform, and sack the obstructionist bums.
I hear a lot of people mouthing fiscally conservative slogans and rants, so get behind real financial regulation reform instead of just whining.

Lou Becker of NV 8:31PM July 16, 2010

I is fixin to be gettin me a millions or so dollar loan, guaranteed by the (workin for a living) taxpayers. I is goin to be starting a new marksmanship facility, it be called "WhackaKraker" All the peeps what be graduate gets to keep they gat what they used on the paper baby targets.

Sulu Chekov Shablammy of PA 6:27PM July 16, 2010

Congress has ratified regulations,
As protection from pecuniary permutations.
Most Republicans said nay,
But there were a few that did stray,
Will this minify monetary machinations?
For more, google "LimRickNews".

LimRickNews of IL 5:51PM July 16, 2010

Congress has approved legislations,
To regulate those financial permutations.
Most Republications said nay,
But there were a few that did stray,
Will this affect financial machinations?
For more, google "LimRickNews"

LimRickNews of IL 4:04PM July 16, 2010

Thank you Sen. Feingold for voting against that phony financial reform bill. Yes, we do need financial reform, but I just hate it when they pass a NON-functional bill to fool us into believing that they've done something.

Daniel Borgstrom of CA 10:37PM July 15, 2010