Does Anyone feel like Bailing

The Wall Street Reform and Consumer Protection Act that the House passed last week addresses:

sub-prime lending - The bill outlaws many of the egregious and predatory industry practices that fueled the subprime lending boom and establishes a simple standard for all home loans: institutions must ensure that borrowers can repay the loans they are sold

ponzi schemes - the bill strengthens the SEC’s powers so that it can better protect investors from Madoff type frauds

derivatives - the bill regulates the over-the-counter derivatives marketplace, requiring all standardized swap transactions to be cleared and traded on an exchange

bail-outs - the bill requires big banks and other financial institutions (with $50 billion in assets) to foot the bill for any bailouts in the future. These institutions would pay assessments based on a company’s potential risk to the whole financial system if they were to fail.

consumer protections - the bill creates a new Consumer Financial Protection Agency to protect consumers and small businesses by ensuring that bank loans, mortgages, credit cards are fair, affordable, understandable, and transparent.

The House bill had ZERO republican votes. (link)