The Wall Street Reform and Consumer Protection Act
This paper is about the movement in Congress to regulate Wall Street in order to prevent future recessions, specifically The Wall Street Reform and Consumer Protection Act.
# 119680 | 2,294 words | 11 sources | MLA | 2010 |
Published on May 17, 2010 in Political Science (U.S. Federal Politics) , Political Science (Fiscal Policy (economy)) , Law (General)
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This paper discusses the current American recession that began in 2007, and explores the weaknesses in the American economy that were uncovered in this recession. The paper argues that it was the deregulation of America's financial institutions that lead to this recession and that more regulatory reform is necessary. The paper explores the measures Congress is taking to ensure no such future recession occurs, specifically the Wall Street Reform and Consumer Act of 2009, a robust financial and regulatory reform bill.
From the Paper:"The ongoing recession that started towards the end of 2007 proved to the entire World that there were and still are holes in the America. The holes in the economy are of biblical proportions. For instance, once formidable financial institutions were being consumed by the wrath of the American economy held by a deck of cards. The tumbling of numerous companies led to the current recession. The increasingly widening holes in the American economy have not been sealed with cement. At this very moment in time, the U.S. Congress is trying to find a way to fill these holes permanently. To supply the American economy with fortification, the House of Representatives passed the Wall Street Reform and Consumer Act of 2009, a robust financial regulatory and reform bill. Congress wants to repair what is decrepit and replace it with something that will be protected from another recession."
Sample of Sources Used:
- Cho, David, and Scott Wilson. "Obama, Republicans Square off on Financial-regulation Bill." Washingtonpost.com. Web. 07 May 2010. <http://www.washingtonpost.com/wp-dyn/content/article/2010/04/16/AR2010041604737.html?hpid=topnews>.
- Cho, David, and Scott Wilson. "Obama, Republicans Square off On Financial-Regulation Bill." Washington Post. Washington Post, 17 Apr. 2010. Web. 07 May 2010. <http://www.washingtonpost.com/wp-dyn/content/article/2010/04/16/AR2010041604737.html?hpid=topnews>.
- Klein, Ezra. "When Democrats Become Republicans and Republicans Become Conservatives." Washington Post. Washington Post. Web. 10 May 2010. <http://voices.washingtonpost.com/ezra-klein/2010/02/when_democrats_become_republic.html>.
- "Financial Regulation." Google News. Google, 13-20 Apr. 2010. Web. 07 May 2010. <http://news.google.com/news/search?aq=f&pz=1&cf=all&ned=us&hl=en&q=financia +regulation>.
- "Financial Regulatory Reform." Financial Services. House Committee on Financial Services. Web. 07 May 2010. <http://financialservices.house.gov/Key_Issues/Financial_Regulatory_Reform/Financial_Regulatory_Reform.html>.
Cite this Analytical Essay:
The Wall Street Reform and Consumer Protection Act (2010, May 17) Retrieved February 05, 2023, from https://www.academon.com/analytical-essay/the-wall-street-reform-and-consumer-protection-act-119680/
"The Wall Street Reform and Consumer Protection Act" 17 May 2010. Web. 05 February. 2023. <https://www.academon.com/analytical-essay/the-wall-street-reform-and-consumer-protection-act-119680/>