The Senate just passed Wall Street reform!!!

The Senate passed what is already being called the broadest reform of the nation's financial system since the Great Depression.

Commodity Futures Trading Commission Chairman Gary Gensler had this to say,

“The Wall Street reform bill passed today is historic and comprehensive. Over-the-counter derivatives dealers will – for the first time – be subject to robust oversight for their derivatives activities. Standardized derivatives will be required to trade on open platforms and be submitted for clearing to central counterparties. This will greatly improve transparency and lower risk in the marketplace. I look forward to the President signing this crucial legislation. The CFTC stands ready to implement the Dodd-Frank Act to best protect the American public.”

A few minutes ago, I received this message from my friend in the head Mitch Stewart:

The Senate just passed Wall Street reform. The bill will become law the moment President Obama signs it. This reform represents the boldest financial regulations since the aftermath of the Great Depression -- and the strongest consumer protections in history. Every door you knocked in Iowa, every phone call you made in Ohio, every dollar you dug deep to give -- it's all for this. The Recovery Act, health reform, and now Wall Street reform, on top of everything else. In a year and a half, this administration has made bigger, bolder progress than any president's in decades. We have a president who fights for all of us, every day. We have you, the best organizers this country has ever seen, who flooded Congress with calls and letters, had millions of conversations with friends and neighbors, went toe-to-toe with the country's most powerful special interests -- and won. And we have members of Congress who bravely stood with the President, even as right-wing groups have pledged $200 million to defeat them in November's elections.

First, take a moment to celebrate. This is an achievement that will make American lives better and protect our economy for generations to come, and it absolutely wouldn't have happened without you. Then, take a moment to thank the members of Congress who stood with us and supported these landmark reforms. In the coming days, they'll be taking a lot of heat for defying Wall Street -- and they need to know they have our gratitude. Organizing for America supporters are signing a note of thanks to Nancy Pelosi, Harry Reid, and all of the allies in Congress who stood up for reform. Will you add your name?  We'll deliver these signatures to leaders in Congress who supported reform, after the President signs this into law.
Thanks for all you did to get us here. I'm so grateful to be making history with you, and I know the President is as well.
-Mitch

What do you think of Wall Street reform? Is it really a change or is it another political ploy?

The law will give the government new powers to break up companies that threaten the economy and create a new agency to guard consumers in their financial transactions, among many other changes.

Your thoughts??