Brilliant insight buried deep within the comments on the Sydney Morning Herald

[Tigress DEM]

24. Like Obama did in 2010?

http://articles.marketwatch.com/2010-07-21/economy/30772947_1_dodd-frank-act-obama-signs-volcker-rule

Obama signs sweeping bank-reform bill into law
Law hikes big bank fees but gives regulators much discretion in key areas
July 21, 2010|Ronald D. Orol, MarketWatch

WASHINGTON (MarketWatch) -- President Barack Obama on Wednesday signed into law the most historic shakeup of the regulation of U.S. banks since the Great Depression, placing new fees and limits on the nation's biggest banks, imposing new restrictions on the $450 trillion derivatives market, and crafting a major new consumer-protection division for mortgage and credit-card products.

"Financial reform is not just good for consumers; it is good for the economy," Obama said at a signing ceremony with dozens of Democratic lawmakers and consumer advocates in attendance. "Passing this bill was no easy task. To get there, we had to overcome the furious lobbying of an array of powerful interest groups and a partisan minority determined to block change."

The approval hands Obama a significant triumph in his effort to rein in Wall Street after the excesses that drove the economy to the brink of collapse in September 2008.

The new law, known as the Dodd-Frank Wall Street Reform and Consumer Protection Act, is named after the legislation's two key sponsors in the House and Senate, the Connecticut Democrat Sen. Christopher Dodd and Rep. Barney Frank, a Democrat from Massachusetts.