By ALG News – It took four months for Senator Scott Brown to be transformed by the Washington establishment, but it has finally happened. No longer the 41st vote against far-reaching government takeovers, yesterday Brown availed himself as the 60th vote in favor of the Dodd financial takeover bill. This came only a day after he had voted no on [...]

By Kevin Mooney — (Posted on TimesCheck.com) Does the so-called financial overhaul bill now moving closer to passage re-establish the controversial organization as part of new government agencies?  Even worse, does the legislation intend for new government agencies to actually replicate ACORN’s questionable financial practices? These questions are explored in an alarming report from Brian Johnson, a meticulous researcher with [...]

By Adam Bitely – In a 60-40 vote, the U.S. Senate has passed cloture on the Financial Takeover Bill, clearing the way for final passage. Three Republicans voted with 57 Democrats to pass the cloture vote. The three Republicans were Scott Brown (R-MA), Olympia Snow (R-ME) and Susan Collins (R-ME). A final vote could come as soon as tonight, but [...]

By Robert Romano – Yesterday, after the Dodd financial takeover bill failed to achieve the 60 votes necessary to end debate, Senator Dick Durbin appeared on the floor to impugn the motives of Republicans. “It’s not surprising that the Republicans are reluctant to be a part of Wall Street reform… We’re trying to change the way Wall Street does business [...]

By Adam Bitely – For the fourth time, the Chris Dodd financial takeover bill has failed to make it closer to passage. In a vote that concluded moments earlier, the Senate was unable to pass the bill in the cloture vote, failing 57-42. Voting against the bill was two Democrats. Maria Cantwell (D-WA) and Russ Feingold (D-WI) both voted against [...]

By ALG News – Yesterday, the U.S. Senate defeated two amendments to the Dodd financial takeover bill that would have begun to address the root, government causes of the financial crisis that began in 2007 when the housing bubble popped. It is now up to Senate Republicans to mount a filibuster against this bill, which instead of real reform, would [...]

By Andrius Vaitekunas Inside of the Dodd Financial Takeover Bill there is a little known provision that allows the government to monitor all financial transactions:

By Adam Bitely – As we have been saying here all week, the Democrats intend to monitor personal financial transactions if the Chris Dodd Financial Takeover Bill passed. According to CNS News: If banks don’t comply, they can be subpoenaed by the director of the Financial Stability Council. Democrats saw no problem with the broad information-collecting powers in their bill. [...]

By Kevin Mooney – Apparently, Republican critics of Sen. Chris Dodd’s financial overhaul legislation were spot on when they warned against additional taxpayer-funded bailouts of Wall Street banks. This is made evident in the headline of a news story appearing in the business section of The New York Times that reads as follows: “Democrats Tweak Bank Bill to Preclude Bailouts.” [...]

By ALG News – If it is truly to be financial reform, legislation being considered by the Senate must include a comprehensive audit of the Federal Reserve and an explicit prohibition against any future bailouts by the nation’s central bank. So far, amendments proposed by Senator Bernie Sanders (I-VT), Jeff Sessions (R-AL), and David Vitter (R-LA) would do just that, [...]