Thursday, December 15th, 2016

Wall Street Reform Bill= Law

President signed the Financial reform Bill into law today at a huge White house ceremony.

American taxpayers =1
Wall Street =0

They fought it tooth and nail and lost. Lost to the will of American people who supported such reform otherwise we could not have 60 votes in the Senate. This is sweeping reform that no one else has been able to put together and harness greed on the street.

The legislation creates a Consumer Financial Protection Bureau with the authority over a large portion of the nation’s financial industry. The Bureau will have broad powers in dealing with and preventing any further abuses such as those, which caused the collapse of the nation’s economy during the Bush administration.

Market is dropping now, due to hitting the downtrend line and also because of latent reaction to the bill. This market is hard to short because it comes back quickly. Many some folks are still angry when they just can’t do much about. The law is now going to curtail all the abuses that have gone into it for the last several years without accountability.

Unless the downtrend line is clearly broken to the upside we are going down another leg most likely.

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