“FINANCIAL TAKEOVER BILL” SEEMS POISED FOR PASSAGE
By Sarah Foster
July 14, 2010
WASHINGTON – Thanks to three aisle-jumping Republicans, it looks like Senate Majority Leader Harry Reid will have the votes needed to push the Conference Report of the financial regulatory bill towards a final passage this week.
Officially titled the Dodd-Frank Wall Street Reform and Consumer Protection Act, after its chief sponsors, opponents are calling it the Frank-Dodd Financial Takeover Act because of its threatened overreach into all segments of the economy and pending control of businesses from Main Street to Wall Street.