Obama's Taxpayer Funded Bailout Machine?

[WhiskeyGirl]

Senate Passes Massive Financial Regulation Bill

Associated Press

In its broad sweep, the massive bill would touch Wall Street CEOs and first-time homebuyers, high-flying traders and small town lenders.

The legislation aims to prevent a recurrence of the near-meltdown of big Wall Street investment banks and the resulting costly bailouts. It calls for new ways to watch for risks in the financial system and makes it easier to liquidate large failing financial firms. It also writes new rules for complex securities blamed for helping precipitate the 2008 economic crisis, and it creates a new consumer protection agency.

more here - http://www.foxnews.com/politics/2010/05/20/senate-passes-financial-overhaul/

If they wanted to get tough with those that caused the melt down, why aren't they just saying no to derivatives?  Naked short selling?  Fraud mortgages?  Mortgages for illegal aliens? 

Perpetual bailout funds?

Somehow, it seems like everything Obama does destroys Main Street, one job, one brick, one trillion dollars  at a time.

I would imagine that Wall Street is celebrating.

Where is the robust audit of the Federal Reserve?

jmho