S. 3217, The Restoring American Financial Stability Act of 2010 (18 comments ↓ | 22 wiki edits: view article ↓)

  • This item is from the 111th Congress (2009-2010) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
  • This bill, or a similar bill, was reintroduced in the current Congress as S. 1455, The Recovery Enhancement for Addiction Treatment Act.

A original bill to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices.

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WashingtonWatch.com Digest – May 10, 2010

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WashingtonWatch.com Digest – May 17, 2010

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Visitor Comments Comments Feed for This Bill


April 26, 2010, 8:16am (report abuse)

just re-establish Glass-Seagall.


April 26, 2010, 8:19am (report abuse)

sorry, can't seem to re-edit. Glass-Steagall.


April 26, 2010, 10:26am (report abuse)

Just another excuse for taxes.

Winifred Conners

April 26, 2010, 12:48pm (report abuse)

NO MORE TAXES! We urge U.S. senators to amend a portion of the bill, known as the "Volcker Rule," to eliminate its effect on a company like USAA.


April 28, 2010, 8:14pm (report abuse)

USAA and the "Volcker Rule". Since USAA is military personnel and their families, it looks like the government has found another way to extract out blood. $4,000 from me.

Alice in Wonderland?

April 29, 2010, 9:59am (report abuse)

Lets call it a solution to a problem to delude most of the public. Lets make up untrue stories & have both parties publicize these lies to generate either fear or support. Then lets compromise & make it so weak & ineffective it accomplishes very little & corp greed continues to go unchecked. Whether you're teabagger or liberal you loose!! It's not about big vs small government. It's about tax rates the wealthy individuals & Corps pay & the amount of influence it buys in the senate. We've lost control of the senate. Corp funded lobbyists are running things & the rest is just a dog an pony show to manipulate the ignorant.

Forget the spin. Just watch the bottom line & in the end this bill will do more for corp interests & less to protect us. Just like the health care bill. Yes it did some good things & that's great but the bottom line is the health insurance industry made a killing. All their stock are up! Regulation? Yeah? (laugh) This won't be any different!!!


May 3, 2010, 2:02pm (report abuse)

The Federal Government is too big now. It does not obey any laws, nor inforce the one's already in affect. The must keep their hands out of corporate america, period before they destroy all we know and love.

Open Your eyes Kate!!!

May 4, 2010, 8:54am (report abuse)

"keep their hands out of corporate america"-----Laugh The Government has become a tool of Corp America. It's not about size it's about the ability to deliver services in cost effective method. Sometimes they work better than government and other times they don’t. Corp America is about maximizing profits & the best way is to raise prices by controlling markets (monopolies) You don't blame the puppet but the puppet master who is pulling the strings. The problem with government is they no longer represent us but big $ lobbyist interests.

Problems never get solved because to stop anything you only need to influence a small number of senators to stall anything. Whatever industry is going to loose simply hires lobbyists who proffer big campaign contributions. The Senators all get in line and distort the truth & voila you have instant gridlock. We need campaign reform to limit Corp lobbyists to fix the senate or nothing will change. Only then will we confront our real problems honestly.


(logged-in user) May 5, 2010, 9:46am (report abuse)

The American people need to vote out our representatives who go against our will. They are our voices for our wants, not our keepers who decide what we needed. Mr. Obamas self centered decision making, and our representatives willingness to bend over backward to keep him and the party machine happy must have a negative action to disregarding our will. Another increase in taxes to save another failed financial institution also means more control by the government that currently has too much control of our lives as it is. Capitalism, and supply and demand, will correct those establishments which cannot manage their or another’s funds, by either change or failure. The individual is responsible for managing their lives, money, welfare, not the governments.

To AmazedConfused

May 5, 2010, 2:08pm (report abuse)

Government is not some entity that simply acts. It acts according to the will of the people controlling it. That should be us but it's not. The politicians are dependant on Campaign contributions. Wealthy interests control them through lobbyists. Immigrations is a good example. Some polls show 70% of Americans want them sent home but the Republicans see them as low cost labor & want them to stay. The Dems see them as left leaning and want them to stay for their votes. The bizarre part is the only segment that makes sense is bigoted part of the republican party! UGH! Now all the politicians are distorting the facts. The bill in AZ is not as serious as people are making it but the dems are painting it as the end of the world sort of like the Repbs screamed about death panels. The scary part is most people believe all or part of their distortions. Let institute campaign reform & then make lying by an elected official an impeach able offence.

To AmazedConfused 2/2

May 5, 2010, 2:44pm (report abuse)

My point and maybe I made it badly is 70% want then sent back and the politicians on both parties are oblivious to out needs instead they are acting independently This problem exists in this magnitude because no one really enforced our laws for 20 some years. Whether you agree or not with this it is really amazing when you think about it. It’s perfect hypocrisy. Nobody takes responsibility and with our employment rate and flat wage growth we are in the process of adding 8-12 millon workers based on the demonstrations of illegal immigrants and a small latino vote. How does this benefit American citizens? It doesn’t! Wall street regulations are going the same way. Look up how many high paid Goldman Sach employees ended up taking low paid government jobs before the mortgage melt down. The certainly didn’t do it for their charitable nature. Now they want to do it all over again.

This is simply CRAZY!! I give up. Lets all move to Canada. Good beer & free health care. (laugh)

You're the problem America!

May 7, 2010, 11:07am (report abuse)

Until we make the Senate represent us and not corp & special interests all this is just HOT AIR. Short of a major calamity to make voters wake up & demand results it's going to be business as usual. The politicians will lie & mislead & businesses will make huge profits & the average American will get screwed.

We used to have the 60s & 70s counter culture now we have Teabaggers.(laugh) OH how well they can criticize but ask them for a rational workable solution to a problem and they get lost. They preach small government and taxes yet historically they are paying less taxes yet they criticize government for it's failures that are often due to lack of funding--DUH???

I can't get over two statics I recently read 24% of the republican party believes Obama is the Anti-Christ (laugh)and this is even better 2% of Americans think they were abducted by Aliens.Our population is 300 mil. that means there are 6 million who believe this. (Gulp!) I guess teabaggers aren't so bad (laugh)


May 12, 2010, 10:37pm (report abuse)

to "You're the problem America"

(Actually you surely do laugh a lot) Your use of the term "Teabagger" is very demeaning and further your assumptions about the people you think you are describing with the term are extremely inaccurate. I have attended three of the "Tea Parties" and have talked with many of the participants. They generally seem to be astute, intelligent, somewhat affluent, and very tired of the left leaning central Governemt. I am a professional with a Master's Degree and I make a substantially above average salary and pay a MUCH larger than average income tax to this federal Government. It then proceeds to squander and "spread" it to the approximately 50% of the nation's citizens who pay NO imcome tax or get the gift of a so-called rebate (rebate from those who actually pay.) I predict that despite lots of rhetoric, there is some action coming this November and greater action in 2012.

To Jerry15

May 14, 2010, 9:16am (report abuse)

Regardless of education people make decisions for personal, often emotional reasons that often ignore the facts. Teabaggers generally fit that model. There is a great deal of misinformation & propaganda floating around & teabaggers buy into it. They have decided big government is the root of all evil but in reality that is not always so. Corporate greed & monopolistic practices that a rampant in many industries make our so called free marlets into farce. Anyone with a basic understanding of economics would see the absurdity of some of the teabagger's positions. Wealth is an expression of power & 95% is concentrated in 1% of our population. Teabaggers are a misguided group of people that being manipulated to act against their self interest. In my estimation that makes them a fool. In your case an educated one.(laugh) but as a teabagger you will never see that because you like your conclusion or more accurately your delusions & reality is a nuisance best avoided! (laugh)

To Jerry15

May 14, 2010, 1:48pm (report abuse)

My comments are unfair. You like most teabaggers see their world only as far as the end of their nose. Your selfishness demands every penny (TAXES) you can get while ignoring the gifts & advantage our country has given us. You justify it by some convoluted logic that say lowering your taxes will somehow create jobs. It doesn't work that way. Wealthy people tend to save & invest. Tax rates only increase consumption marginally hence job growth remains flat. Bush's eight years proved that. Demand creates spending and expands markets which cause businesses to expand & hire to meet demand. Tax rate are historically low now. The ratio between the wealthy & the poor is greater now than since the 1930s. Bush's tax cuts & two unfunded wars was really a redistribution of $ from the middle class to the wealthy & demand suffered as a result. This is class warfare and the senate has become compromised by lobbyists funded by the wealthy & large corps.The senate can't govern. That's the problem!


May 18, 2010, 11:10am (report abuse)

The economy is like the heart in our bodies. The cash is like the blood. If there isn't any cash circulating the heart will stop pumping. So it there is no cash to go around the economy will stop. Inflation is like a disease. Inflation steals peoples savings, like in the body a disease steals peoples health. Inflation needs to be curbed. Cash needs to flow.


May 21, 2010, 3:07pm (report abuse)

It is often the case that Government titles a bill that is opposite the effect it will have. Our President talks about the importance of Small Businesses and how much he supports the Free Market, yet we see things like this and HealthCare Reform. The collapse of the Free Market was engineered by special interests and the Federal Reserve.

Ann999, I've noted recently that the Fed has actually posted 0% interest on the money that it has lent out over the past several years. As far as our national deficit, this is the root of the problem. Historically speaking, the interest rate should be about 3%, at which point the Free Market begins to stabilize inflation. Furthermore, these same people note that in as soon as two years, the American Dollar will actually "Hyperinflate", shooting interest to about 13.5%, at which point food and gas become to expensive for the consumer to buy and the markets to shelve. The answer is also the Free Market. Keep the Free Market Free.


May 21, 2010, 3:20pm (report abuse)

The problem with taxes, to address "Jerry15" and "ToJerry15" is that the tax cuts are going to the wrong people. If businesses are over-taxed, they can't afford to hire as many employees, which makes the employee tax cuts almost meaningless. What's more important? The ability to make an income or to pay taxes on that income? Taxes are necessary to a certain point. Without taxes, government could not exist. It's your way of contributing to the Nation. Now, some taxes that pay for 'entitlements' for people who like living off of the government instead of contributing to society, i'm totally against.

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