Financial Overhaul

Oh goody, more big brother and more government reform.  This thing is bad and it does nothing that would actually prevent the same kind of mess from recurring.   It does not touch Fannie Mae and Freddie Mac - hmm let's see could it be because these are government sponsored enterprises?  Fannie and Freddie played a huge role in creating the financial derivatives market, funded or backed trillions of dollars in questionable mortgage loans and still control half of the U.S. mortgage market.  The new bill will kill as many 120,000 jobs and cost $6 billion dollars a year according the Business Roundtable. Expect banks to tack on new fees to offset the loss of fees in credit cards.  No wonder that a poll of 1,002 Americans by Certified Financial Planner Board of Standards shows that four in five believe Congress and regulators have failed to "deal with the financial market problems and their impact on American investors".