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12/19/2009
jacob schneepbly
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Dec 19, 2009 7:46:44 PM
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Personal Loan Market Takes a Hit
The house issued a bill Friday governing Wall Street, the largest alteration of laws geared towards banks and other financial institutions since the New Deal. Senate action is coming early next year. Some concerns and responses on the bill: Q. Who should be concerned? A. Financial institutions, both banks and nonbanks; householders, insurance companies; hedge funds; payday lenderstraders in complex derivatives; and securities rating companies. And consumers such as credit card holders, and borrowers. Q. How would it retain another Wall Street crash? A. It creates a Financial Services Oversight Council controlled by the Treasury secretary, the Federal Reserve chairman...
jacob schneepbly
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