Senate OKs Al Franken's tough credit rater rules

[Mr. Sparkle]

Source: Marketwatch.com

WASHINGTON (MarketWatch) -- The Senate on Thursday approved a measure to create a clearinghouse intermediary to pick credit raters for banks and other corporations. The measure, which was approved by a vote of 64 to 35, would allow the Securities and Exchange Commission to set up a Credit Rating Agency Board, made up of investors and independent regulators that would assign a credit rater for a security. Sen. Al Franken, D-Minn., introduced the provision to limit conflicts he argues are in the existing system where an institution pays for its rating and, at times, shops for the best rating it can get for the lowest price.

Read more: http://www.marketwatch.com/story/senate-oks-tough-credit-rater-rules-2010-05-13

[jgraz]

1. Is it just me, or is that "clown" Franken totally kicking ass in the Senate?

:applause:

[monmouth]

2. I just love him and congratuolate MN for having the good sense to

vote for him. I still like Franken/Weiner for 2016...LOL..

[jgraz]

3. Considering they also elected Michelle Bachman, I'd call it a wash.

[Bosso 63]

14. Minnesota did not elect Bachmann, the 6th district did.

And even there, a lot of good people are working to have the crazy lady replaced.

[Cant trust em]

33. Woodbury's finest. nt

[kenfrequed]

17. Feh

Bachman does not represent Minnesota. She represents the most gerrymandered district in the state. You want to know why she is complaining about the census? Well see what happens after the congressional districts are redrawn. No more Bachman. By by B!t@#!

[geardaddy]

18. Hardly a wash.

Bachmann's the red turd in the punchbowl here.

[jgraz]

34. Sure, but it's an excuse for this ol' Wisconsin boy to give you Gophers shit.

Which is something we Cheeseheads never pass up. :P

[geardaddy]

36. That's true.

:P

In that case, I've got two words for you.



























Tommy Thompson

[jgraz]

38. I'm glad those were the two words you chose.

Cuz if those two words were "Brett Favre", I was gonna put you on ignore.

:P

[xxqqqzme]

5. It does appear he has

found his 'zone'. He seems to have a unique ability for getting to the sore point and making it better.

[jgraz]

7. Honestly, I think it's his comedian's sensibility.

The stuff he goes after would be a joke if it wasn't so terrible.

[Plucketeer]

15. OH YES!!!

Now if we could just recruit Jon Stewart! Can't you see him on the senate floor - trading barbs with Mitch McDuncell??? :rofl:

[jgraz]

16. I don't think Stewart could restrain himself like Franken does

The Senate debate would quickly deteriorate into "fuck you, you fucking fuck!".

On the other hand, maybe that would be fun. :evilgrin:

[harun]

11. Nope, he isn't sitting around. Been kicking butt the whole time.

[cindyperry2009]

25. He is

[rocktivity]

4. Note how he hasn't been wasting time crawling to the Rethugs for "bipartisan" support,

Mr. President.

Franken/Grayson 2016! CUE THE VONAGE THEME!

:woohoo:
rocktivity

[monmouth]

6. Or Franken/Weiner...Just for the hell of it...LOL...n/t

[freebrew]

12. What's wrong with 2012??? nt

[Iowa]

31. Yep, you beat me to it. 2012.

[blue97keet]

8. I voted for him and he actually did something right?

However I thought I saw on C-span that Dodd voted against the ammendment

[salguine]

9. This is good...but what's to stop the banks from simply doing to this

"clearinghouse intermediary" what they've done to all the other regulatory agencies; namely, absorb them and turn them into just another tool of the banks?

[ProSense]

10. The sellouts who voted for this

Roll call:

YEAs ---64
Akaka (D-HI)
Baucus (D-MT)
Begich (D-AK)
Bennet (D-CO)
Bingaman (D-NM)
Boxer (D-CA)
Brown (D-OH)
Brown (R-MA)
Burris (D-IL)
Cantwell (D-WA)
Cardin (D-MD)
Carper (D-DE)
Casey (D-PA)
Cochran (R-MS)
Collins (R-ME)
Conrad (D-ND)
Crapo (R-ID)
Dorgan (D-ND)
Durbin (D-IL)
Ensign (R-NV)
Feingold (D-WI)
Feinstein (D-CA)
Franken (D-MN)
Gillibrand (D-NY)
Graham (R-SC)
Grassley (R-IA)
Hagan (D-NC)
Harkin (D-IA)
Inouye (D-HI)
Johnson (D-SD)
Kaufman (D-DE)
Kerry (D-MA)
Klobuchar (D-MN)
Kohl (D-WI)
Landrieu (D-LA)
Lautenberg (D-NJ)
Leahy (D-VT)
Levin (D-MI)
Lincoln (D-AR)
McCaskill (D-MO)
Menendez (D-NJ)
Merkley (D-OR)
Mikulski (D-MD)
Murkowski (R-AK)
Murray (D-WA)
Nelson (D-FL)
Pryor (D-AR)
Reid (D-NV)
Risch (R-ID)
Rockefeller (D-WV)
Sanders (I-VT)
Schumer (D-NY)
Shaheen (D-NH)
Snowe (R-ME)
Specter (D-PA)
Stabenow (D-MI)
Tester (D-MT)
Udall (D-CO)
Udall (D-NM)
Warner (D-VA)
Webb (D-VA)
Whitehouse (D-RI)
Wicker (R-MS)
Wyden (D-OR)

[erodriguez]

24. Hmm who could be missing?

I don't see Mitch McConnell on that list.

[onehandle]

13. I own that Senator.

At least it seems that way. I invested a sizable chunk of my 2008 political budget in Al.

And he is doing my bidding.

Now I know how the oil industry felt about Bush/Cheney.

[geardaddy]

20. Thanks for donating so we in MN could have a better senator.

:D

[truthisfreedom]

27. As do I.

I contributed the limit, and I'm satisfied with the direction he's taking things and the speed at which he's delivered some very excellent bills. As a junior Senator he's really raising the bar.

[geardaddy]

37. He sure is.

Now if Klobuchar would get off her blue-dog ass and do something or get out of the way.

[raouldukelives]

19. Next best thing to Sen. Bill Hicks

[geardaddy]

21. The Dems who voted nay

Bayh (D-IN)
Dodd (D-CT)
Nelson (D-NE)
Reed (D-RI)

[Rainbowreflect]

23. Why am I not surprised?

Ben, you suck!

[activa8tr]

26. What's with Reed? Of course Dodd is on his way out to

lobby..for the raters!

[Forkboy]

22. Been very impressed with Franken.

I knew he was a good guy, but I didn't know what to expect once he got to Washington. So far he's been excellent.

[SleeplessinSoCal]

28. "Harvard grad makes good." He's the read deal. And I'm so proud.

[JohnnyK]

29. Before he even got elected...

... you just knew Franken would be a hard worker and shake things up. His finest moment was perhaps the week before Christmas when he refused to give Lieberman more time during the health care debate. Before he got elected his writings and radio show demonstrated his passion for the issues and an interest for exposing the bullshit that goes on in DC. We waited so long for the election results, but the outcome was worth the wait. He's already done so much for folks in America in the short time he's been there. He's gonna be one of the great ones.

[dballance]

30. I'm Glad I Donated to his campaign

Some days it seems like he and Feingold are the only two in government that care about us regular people. As long as the banks are paying ratings agencies the game is rigged. That's obvious from the housing mortgage crash. Fox, welcome to the hen house.

We should be doing what Iceland is doing and throwing these crooks in jail!

[Stuart G]

32. K and R thanks for posting this.

[applegrove]

35. Go Al, Go Al, Go Al !!!