Saturday, June 26, 2010

Big banks escape toughest limits in new regulation bill

On Reader Supported News:
How do American corporations maintain their modern fiefdoms, regardless of the harm they do to the nation itself? Congress.

By Kevin G. Hall and David Lightman, McClatchy Newspapers.
WASHINGTON β€” Like a hard-fought draw in a World Cup soccer match, consumers won sweeping new protections under a revamp of financial regulation that lawmakers agreed to Friday but large banks dodged the biggest hits that had been coming their way. The sweeping regulatory revamp affects everything from credit cards and mortgages to the structure of large global banks and who regulates the financial sector and how. Read more here.

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