Freedom Line Blog

In the never ending succession of bad legislation coming out of Congress, the Democrats added another one to the list today.

By a 223-202 vote, the House passed the “Wall Street Reform and Consumer Protection Act of 2009.”  Twenty-seven Democrats joined every single Republican to oppose the legislation.

The bill is a hodgepodge of more regulations, higher taxes and new government.  After Sarbanes-Oxley, Congress thought it had effectively ended the debate over financial regulations.  For Congress, it’s never too late to re-regulate.

You can read the Congressional Research Service summary of the legislation here.

Here is the CBO’s cost estimate of the bill.