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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Dodd plans bill to overhaul nation's financial regulation

Senate banking committee Chairman Christopher J. Dodd (D-Conn.) announced this morning that he plans to introduce legislation aimed at revamping the nation's financial regulatory system.

Dodd said he will unveil Monday an updated version of the overhaul package he introduced in November, which called for the creation of a consumer financial protection agency that would oversee and enforce financial protection laws.

Though he had been working with Republican leadership toward legislation with support from both sides of the aisle, Dodd indicated that he believed time is running short. "We have reached a point where bringing the bill to the full committee is the best course of action to achieve that end," said Dodd in a statement.

Story here.

-- Mike Musgrove

By Multiplatform Editor  |  March 11, 2010; 1:05 PM ET
 | Tags: chris dodd, consumer financial protection, financial regulations, financial system  
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Comments

An Idea to Help Balance the Budget!

There are 2.6 trillion stock transactions per year in the USA. If there were a ONE DOLLAR FEE on every transaction, that would create an extra 2.6 TRILLION DOLLARS for our BUDGET. It would only cost an individual who bought or sold stocks 1 extra dollar each time they executed a stock order. We could call it
“A CHARGE TO REBUILD AMERICA.”
Can you think of a reason this wouldn't work?" Can you think of a way to make it work?

Posted by: jcm124 | March 14, 2010 8:05 PM | Report abuse

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