What is so bad about this Wall Street Reform legislation to make Republicans want to fillibuster it?

And not even let it come up for debate or a vote. Please give me some specifics.What is so bad about this Wall Street Reform legislation to make Republicans want to fillibuster it?
The law is as useless as the Republican tort reform. Does nothing to "reform" wall street but does interfere with the potential growth of small biz.



The consumer protection items should be in a separate bill and I support those items myself. Though they do not go anywhere near far enough and most are pure lip service because they will not be enforced or are unenforcable. At least it's a step in the right direction.



The homeowner's protection will just make it harder to buy a house not protect anybody who buys one. The really bad things lenders do are not covered. For example selling your note. You should be able to shop your note around if your current mortgage owner wants to sell it. Not wake up one day paying money to a company you despise or with whom you cannot work.



Then you get to the insanity.

First off while I think wall st execs are grossly overpaid and I do not fear any brain drain since these guys have proven themselves idiots and if they go to another nation good, let them ruin that other nation. However it is and never should be the Gov's biz how much money you make. If you open the door here you open it everywhere until what you make no matter what job you have is regulated by the Gov.



The collapse had everything to do with 20 years of economic decline and not much else. Salaries are a minor part of the problem.



The never bail out another company idea I LOVE but the on tax companies to pay for not bailing out a company makes zero sense. It's just a tax and nothing more. If you think it will not be spent except for the defined purpose you are fooling yourself. Why tax anybody? We just make a firm rule no more bail outs no matter who you are.



Creating a new Gov agency? Question don't we already have an army of Gov agencies tasked with financial regulation. Creating one more does what aside from one more place to spread blame around?



I don't know enough about derivatives to make an informed comment. Not especially worried about them either way.



I think if the Dems want real reforms they need to do more than blow hot air and write talking points. They need to admit they were as culpable as the Republicans in the whole mess and worry less about punishing "fat cats" and more about actual workable solutions.
1. The Treasury Secretary said that the "liquidation fund" is a bailout-in-waiting for large banks should they commit bad acts. This implicit guarantee (a) gives large banks an advantage over small ones in borrowing money and (b) encourages bad acts by the large banks.



2. The treatment of derivatives is sloppy. Southwest Airlines maintained profitability during the oil price spike by judicious use of aviation fuel futures - derivatives. The practice of bundling and sellling solid mortgages is necessary to keep the secondary market for mortgages alive, which is necessary to support the housing industry.



3. The rating agencies are still working for the people whose instruments they are rating. We saw how well that worked with stock analysts de facto working for the companies whose stocks they were rating.



4. The bill does nothing to bring the source of the global meltdown - Fannie Mae and Freddie Mac - under tighter control.



5. I can go on, but this will do for now.What is so bad about this Wall Street Reform legislation to make Republicans want to fillibuster it?
Because they like the Status Quo the way it is. Rich People who have stock in or own a Bank or Corporation should be able to do as they damn well please, legal or illegal, does not matter as long as they are in pursuit of profit for owners and shareholders. Republicans are simply serving their Masters' best interests...and Privatized Profits and Socialized Bailouts are in their best interests.



The middle class LIVE to SERVE the upper class...they have no other purpose in life and the sooner the middle class realizes this the better off the upper class will be.
Two things come to mind. The legislation is Democrat legislation, and Wall St. is getting rich off the poor main st. middle class americans, and Republicans are all for that.What is so bad about this Wall Street Reform legislation to make Republicans want to fillibuster it?
It reins in the banks and guarantees we won't have to bail them out again. Republicans have long stood for DEregulation, not regulation.



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One Specific: It is a democratic written legislation.



That is it.
The Republicans.