Vermont senators seek tougher financial reform bill

[cali]

By Nicole Gaudiano, Free Press Washington Writer • Thursday, April 29, 2010


WASHINGTON -- Vermont's senators support the financial regulatory reform bill before the Senate, but they hope to put their own stamp on it.

Democratic Sen. Patrick Leahy wants to increase penalties for bank and securities fraud. He also will propose an amendment to remove an antitrust exemption for insurers, something he tried to include in the health care reform law.

Sen. Bernie Sanders, an independent, wants to break up and limit the size of big banks, increase transparency at the Federal Reserve, and cap interest rates for credit cards.

Both said the Democratic bill before the Senate would help solve the problems that led to the financial crisis and the recession.

"It's pretty tough right now," Leahy said of the bill. "It may be toughened as we go along. That's why Wall Street wants their allies to keep filibustering it."

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http://www.burlingtonfreepress.com/article/20100429/NEWS03/4290304/Vermont-senators-seek-tougher-financial-reform-bill

Sanders said he could support the bill in its current form although it is "nowhere near as strong as I would like it to be."

[Stargazer99]

1. Poor babies = the financial community

I don't know whether to laugh at their panic at finally getting displined or cry knowing how much power they have to shove it down the common man's throat.