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Discussion in 'Credit Talk' started by JoshuaHeckathorn, Jan 20, 2009.
Will Credit Card Reform Make it On Obama's Long To-Do List?
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I doubt it.
The largest recipents of campaign funding from Freddie Mac and Fannie Mae (and I believe the rest of the financial industry, too, although I haven't been able to verify yet) were--#1, Chris Dodd, Chairman of the Senate Banking Committee, and #2, Barack Obama.
While they may pay lip service, I don't look for any bills to get out of committee (80% of all bills introduced never make it to the floor--that's how they kill them).
The only thing that might happen is the speed-up of the credit card reforms that the Federal Reserve implimented. These "reforms" are to become effective in July 2010, a year and a half from now.