InfoAnda - Obama signs historic finance reform bill

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Russia says U.S. offers deal to arms suspect Bout | 18 November 2010
Ferry capsizes off Zanzibar, at least 31 dead | | 19 July 2012
Israeli Arab wrestles with grief, guilt in suicide bomb film | | 20 December 2012

Insight: Myanmar's power struggle endangers economic boom | | 16 April 2012

Forum Views () Forum Replies ()

Read more with google mobile : Obama signs historic finance reform bill

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Obama signs historic finance reform bill AFP - Thursday, July 22 Send IM Story Print Obama signs historic finance reform bill WASHINGTON (AFP) - – President Barack Obama Wednesday signed into law the most sweeping reform of the US finance industry since the 1930s, promising US taxpayers would no longer get the bill for Wall Street excess. The legislation, which some Republicans have pledged to repeal, introduces new consumer protections, checks the power of big banks and cracks down on deceptive practices by credit card firms. "Because of this law, the American people will never again be asked to foot the bill for Wall Streets mistakes. There will be no more tax-funded bailouts," Obama promised. Seeking to restore public confidence in his economic leadership as unemployment flirts with double digits, Obama said the bill would repair the fractures and abuses of which the financial meltdown was born. "It was a crisis born of a failure of responsibility from certain corners of Wall Street to the halls of power in Washington," said Obama, before adding the legacy-boosting law to his huge health care reform passed earlier this year. "These reforms represent the strongest consumer financial protections in history," Obama said, before signing the new law, passed by Congress last week. "These protections will be enforced by a new consumer watchdog with just one job: looking out for people -- not big banks, not lenders, not investment houses." The financial reform bill finally squeezed through Congress with just a handful of Republican votes, as the opposition party continued with its policy of trying to block Obama's ambitious reform program at all costs. Republican leaders on Wednesday condemned the new law, saying it would crimp growth, and handcuff the might of America's financial titans. Republican National Committee chairman Michael Steele accused Obama of trying to convince "skeptical Americans that he is doing everything he can to lower unemployment." "President Obama has signed into law a 2,300 page behemoth that will saddle the business community with innumerable unintended consequences, tighter credit, and countless job-killing regulations," Steele said. Obama, facing record low approval ratings in some polls, hopes the financial reforms will eventually become popular, but much of the bill, like the health care bill, is so complicated that it will not come into force for months. For instance, it will be up to a year before a new Consumer Financial Protection Bureau is set up to protect American consumers from hidden fees and deceptive lending practices when they get a new mortgage or credit card. It could be 18 months before new regulations emerge to stop banks from engaging in impermissible proprietary trading and investment in hedge funds -- under the Volcker rule, named after former Federal Reserve chief Paul Volcker. In a bid to highlight the help the bill will grant to the middle classes, Obama was joined at the signing ceremony by several Americans who suffered unfair treatment at the hands of credit card firms and banks. The legislation closes loopholes in regulations and requires greater transparency and accountability for hedge funds, mortgage brokers and payday lenders, as well as arcane financial instruments called derivatives. The measure has drawn praise but also skepticism from economists and analysts. The bill "addresses a number of key weaknesses in the US financial regulatory structure that led to the financial meltdown in 2008 and early 2009," said Brian Bethune at IHS Global Insight. But Diane Swonk at Mesirow Financial warned that much of the impact is not known. "We will have more regulators overseeing -- but not necessarily averting -- risk, and with a bill so large and undefined, we are likely to get more, in terms of unintended than intended consequences, going forward," she said. The law is likely to generate heated debate ahead of congressional elections in November as Republicans call for its reversal. House Republican leader John Boehner said recently the law "ought to be repealed" and replaced with "common-sense things that we should do to plug the holes in the regulatory system." Recommend Send IM Story Print News Search Top Stories Bernanke warns economic outlook 'uncertain' Iraq car bomb kills 30 Eurozone risks threaten nascent recovery: IMF Bad weather may slow battle to plug Gulf well Gulf boats having trouble finding any oil: US official More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Parachuting donkey shocks Russian beachgoers Lindsay Lohan carted off to jail HIV gel breakthrough lifts mood at AIDS conference Apache to buy BP assets in US, Canada, Egypt Single-aisle jet orders take off at Farnborough show More Most Viewed » Parachuting donkey shocks Russian beachgoers Reclusive top mathematician turns down prize, again Paris Hilton caught with cannabis in handbag Germany's 'Octopus oracle' keeps perfect record 3 Russian spy suspects due in US court More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Thursday, 22 July 2010
Iraq car bomb kills 30
Eurozone risks threaten nascent recovery: IMF
Facebook membership hits 500 million mark
US-TECH Summary
Car bomb kills at least 15 at Iraqi market
Apple impresses, but margin outlook limits rally
Beatles piano up for sale: auction house
Sudan's Bashir defies court with Chad trip
Car bomb kills at least 15 at Iraqi market |
Merkel 'quite certain' government will survive
Syria debates reported ban on student veils
Rebels attack power station in Russia's Muslim south |
Russian power plant attacked, two killed
Nigeria telecoms firms sign up to new broadband cable
Bad weather may slow battle to plug Gulf well
Fiat takes major step towards global megagroup
Gulf boats having trouble finding any oil: US official
Lawmakers demand tough action on China piracy
Cuba release 'could lead to US lifting embargo'
Israeli shelling kills Gaza militant, wounds seven
Lebanon to raise Israel spy charge at U.N. |
Google loses out in Chinese search engine market
Scottish ministers defend Lockerbie release amid US row
Insurgents behead Afghan cops
Gay law in Argentina signals waning Catholic power |
Alcatel-Lucent announces Internet contract in China
Obama signs historic finance reform bill
Britain could start Afghan pull-out in 2011: PM
U.S. general sees Iraq pullout without Arab-Kurd deal |
Connecticut asks Google for info in privacy flap
Israel to restrict use of white phosphorus munitions
Apple posts big quarter on iPad, iPhone, Mac sales
French minister's wife quizzed in heiress scandal |
Obama signs historic finance reform into law
32 injured in southern Iran quake: reports
Owner refuses to let gasoline ship sail to Iran
Britain's Clegg says Iraq invasion was illegal |
Fujitsu launches 'easy-easy' seniors' phone
Muslims must fight US, British terrorism: Khamenei
Pakistan press on after stunning Aussie collapse
US calls for probe on rights abuses in Sri Lanka
Connecticut asks Google for info in privacy flap |
Apple impresses, but margin outlook limits rally |
Thailand revokes Russian conductor Pletnev's visa
Former N.Korea spy meets families of Japan kidnap victims
Nigeria telecoms firms sign up to new broadband cable |
Last days set for bad Bordeaux
FIFA gives thumbs-up to Japanese stadium
'Brinkmanship' over N.Korea at security talks
US-ENTERTAINMENT Summary
US official to press China on piracy
Ex-terror suspect slams Malaysia's security law
Vampire TV series "True Blood" now a comic book
Ra Ra Ramallah booms to Boney M
Foreign execs grow impatient with China
'Slaves' in impoverished Yemen still dream of freedom
China may boost missiles aimed at Taiwan to 1,900
'Quiet Assassin' out to prove China bears wrong
"Gay zombie porn" movie banned from Australia film festival
"Blind Side" family's story inspires others
Chinese province considers wage negotiation law
Google loses out in Chinese search engine market
Pets get their "awkward family photo" day in publishing
'Gay zombie porn flick' pulled from Aussie film festival
Iran studio plans movie on 'abducted' scientist
Eminem leads U.S. album and singles charts |
Bush reunites for album and tour |
Rockers Rage Against the Machine target Arizona law |
Sara Gilbert talk show to replace veteran CBS soap |
Jennifer Aniston launches perfume |
Vampire TV series True Blood now a comic book |
Women in northern Afghanistan face Taliban revival
'Monster' star found with Very Large Telescope
Lebanon to raise Israel spy charge at U.N.
IBM launches faster and more cost-efficient mainframe
British PM, UN chief hold wide-ranging talks
Scotland denies conspiracy over Lockerbie release |
US state attorneys press Google in Street View probe
Bernanke warns of 'uncertain' economic outlook
Scottish ministers defend Lockerbie release amid US row
North Korea says U.S. drills pose danger to region |
HP dabbling with Windows 7 tablet computer
Machine gun and mortar battle in Yemen kills 19 |
EBay profit climbs on PayPal popularity
Taliban denounce Kabul meeting as sign of failure
Southern China braces for second typhoon |
IMF cancels Haiti debt, approves new $60 million loan |
Facebook membership hits 500 million mark
World court Kosovo ruling could have global impact |
Clean-up crews use bare hands in oil spill battle
No corruption by former Castro friend: attorney |
Strong 6.2 earthquake rattles Vanuatu: USGS
Connecticut asks Google for info in privacy flap
'Hot' Russian spy leaves enigmatic Facebook trail
Flood-hit China braces for typhoon Chanthu
U.S. Senate asking BP CEO to testify on Lockerbie
China forces committed Tibet rights abuses: group
Global minimum and maximum temperatures
North Korea says U.S. drills pose "danger" to region
Taiwan leader chairs China attack wargame: report
Facebook IPO when makes sense, Zuckerberg tells ABC |
Ex-Australian PM Rudd in talks over UN role
Motorola sues Huawei for trade secret theft |
Beyond thunder as rains green Mad Max set
Strained US-Sino ties loom at Asia security forum
IBM launches faster and more cost-efficient mainframe |
Emperors, princes and Australia's league of mini-nations
Disney picks Pixar's brains for Muppets movie
Adventurers pay tribute to renowned Micronesian navigator
'Uni' study probes why 'Aussies' shorten words
Honda says strike at China parts supplier over
Tourists heave menhirs to solve ancient mystery
Chinatrust: Still interested in AIG Taiwan unit talks
London cafes take the heat out of cycling
Seoul shares slip 0.8 pct as techs lose ground
Actors want money from "America's Most Wanted"
China's Huawei denies stealing Motorola technology
Four actors join Paul Rudd comedy
Chinese rating agency chief slams Western rivals
German tenor Kaufmann to make Bayreuth debut
PAKISTAN
NZ consumer confidence falls in July
BRIEF-Moody's says Korean RMBS and ABS are resilient performers
NZ economy showing signs of rebalancing
China's Baidu doubles profits in second quarter
Secret Mel Gibson text message may prove extortion |
Disney picks Pixar's brains for Muppets movie |
Dennis Hopper's L.A. home on market for $6 million |
Man behind South Park threat arrested |
Four actors join Paul Rudd comedy |
Actors want money from America's Most Wanted |
Prosecutors urge immediate jail for actor Snipes |
Guns N' Roses members, past and present, stay busy |
Despite pledges, Iraqi Kurd oil still flows to Iran
Nokia continues to struggle in smartphone market
Direct peace talks decision in seven days
Amazon inks pact with Wylie Agency for e-books
Direct peace talks decision in seven days: Abbas |
2 Americans killed in copter crash in Afghanistan
Desmond Tutu, nearing 79, bows out of public life
Gameworld: Superheroes forge new career path in video games
NATO: Insurgent attack planner caught in Kabul
Startup unveils Flipboard, a 'social magazine' for iPad
Credit Suisse reports 'resilient' earnings
OSCE to send police monitors to Kyrgyzstan |
Monaco's playboy prince sets wedding date
Congo's children battle witchcraft accusations |
Strikes end at two Chinese automotive suppliers |
Mandela relatives held at gunpoint in robbery bid |
Algeria denies detaining Guantanamo returnee |
Clinton raises concern over Vietnam's rights record
Bangladeshi mother reunited with 'miracle' twins
Foxconn chief warns on Taiwan investment plans
Algeria denies detaining Guantanamo returnee
U.S. seeks to ease India's Afghan fears
North Korea condemns US sanctions, naval drills
U.S. challenges Arizona immigration law in court
High hopes for Microsoft, but stock still adrift |
Clinton warns Myanmar on NKorea cooperation
Gameworld: Superheroes forge new career path in video games |
Australia mining firms threaten new tax row
US to resume ties with Indonesia's special forces
Asia-Pacific airlines enjoy strong recovery
Amazon inks pact with Wylie Agency for e-books |
US to resume ties to Indonesia's special forces
Pakistani stocks, rupee flat; o/n rates up
Nokia Q2 profits drop, CEO wants exit talk to stop |
Pitt, Jolie win privacy damages from UK tabloid
French online betting in post-World Cup drive |
Pakistan's forex reserves rise to $16.70 bln
Angry Foxconn chief warns on Taiwan investment plans
UMC to appeal fine on illegal China investment
Pitt, Jolie win privacy damages from UK tabloid
S.Korea pension fund cleared to lift KEPCO stake
EU trade chief says China business concern rising
Seoul shares slip 0.8 pct as techs lose ground
Angelina Jolie and Brad Pitt awarded damages over tabloid claim |
A Minute With: Guillermo del Toro at Comic Con |
Thriller with Natalie Portman to open Venice fest |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01