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April 23rd, 2010
12:01 PM ET

Wall Street Reform

Pushing for tougher rules on Wall Street.  President Obama went to New York to call on the financial industry to support new regulatory reform.  So what does this mean for average Americans?  We'll ask the Dolans.

Plus women are still earning less than their male coworkers.  Does this surprise you?

Send us your money questions and we'll answer them live on the air this Saturday at 2pm ET.

Filed under: Fredricka Whitfield • Josh Levs
soundoff (10 Responses)
  1. cyril ayanbadejo

    Reforms are much needed in the my country Nigeria,we also faced similar challenges relating to the stock market and much needed reforms that are still being implemented are beginning to revive the economy…we can only hope things get better.
    The USA MUST implement much needed reforms too.they are still the largest economy!!!!!

    April 23, 2010 at 12:28 pm |
  2. Butch Jordan

    We all know that politicians are always looking for money, both for themselves, and for their campaigns. With all of the huge financial investment firms donating to both the politicians, and their campaigns, can we ever expect to see real protection of the average investor? Please don't act like politicians are not taking the money ....have you ever seen a poor politician?

    second question you think our form of government is viable given the absolute control that the politicians have over the system? I personally see a very ugly future for generations of Americans that are going to have to feed the political machine for years to come in the future ....

    April 23, 2010 at 1:32 pm |
  3. Jean Williams

    Why did the CEO's and upper management people receive gigantic bonuses when they were responsible for their companies financial ruin, to the point that we, the American citizen, had to bail them out.

    I for one do not think that they deserved any bail out, but should have faced their responsibility just as we have to do every day.

    April 23, 2010 at 3:36 pm |
  4. Carl

    We will still act and conduct our business the same way we always have on Wall Street. Obamas suggestions are not based in any law. Its called Capitalism. If the little guys loose their jobs and their homes thats not our problem. As Jim Bunning said many times, "Let them live in tents. They are on sale at Wal Mart".

    April 23, 2010 at 5:54 pm |
  5. Scott Stodden

    I support Financial Reform for Wall Street because Fredricka this protects the consumers finally and holds Wall Street, Big Banks and the fat cats of Wall Street responsible in case they have need to be bailed out again! I encourage the House and Senate to pass 2010 Financial Reform because it benefits everyone in the country! Also it really doesn't surprise me that women are being payed less than men and I heard this week that President Obama is bringing forth a bill that would stop pay discrimination against women is this true Fred? I watch you every weekend Fredricka your the greatest on CNN!

    Scott Stodden (Freeport,Illinois)

    April 24, 2010 at 11:40 am |
  6. TonyInLargo

    The money that I have in my pension and IRA is handled by the Wall Street Thieves who met with Republican Senator Mitch McConnell.

    Ergo, I want Financial Reform that will provide oversight and thus assurance to keep the Republican Cohort Wolves and Supporters from concocting "Deals" with imagined future profits in order to Cash-In immediately on obscene Million$ in commissions from my hard earned money.

    Republicans are absolutely on the wrong side of an important issue.......... again.

    April 24, 2010 at 12:56 pm |
  7. jimmy

    what does this mean for average Americans? Or let's rephrase that question shall we? what does this mean for MIDDLE CLASS Americans? The mega rich care only about money and power.The Middle class needs to wake up and so do the blind who follow the political football. Divide and conquer horray for our 2 party system! NOT! Regulate the GREEDY please, thanks.

    April 24, 2010 at 1:02 pm |
  8. TonyInLargo

    Better regulations with more transparency, oversight and auditors equals protection for my hard earned money which is manipulated in Wall Street whilst I navigate towards retirement. Make no mistake a bout it. I'm for protecting my share.

    Bad habits are hard to break and we can always do things better tomorrow than the way we did them today. This is what the reform will bring, change for the better. In fact, that change is not only needed to protect my assets and everyone else's, but it's needed so the entire World will once again feel like they can invest in our Financial System.

    The entire Financial Sector which is going to be affected by this legislation would do well to participate in its redaction with their expertise and so they can eventually "own the reform" and know how to comply with it.

    If after what happened in the Fall of 2008, which we are still tackling today, someone feels that this isn't needed, then, they need their head examined, unless of course they just like the conditions under which they were able to play Hocus-Pocus to "legally" steal Billions$ of peoples savings, IRA's and Pensions.

    Reform now !

    April 24, 2010 at 11:21 pm |
  9. MR.AL

    Wall Street Reform?

    Is wall street reform needed YES!! Americans have need a wall street reform long before now. Ive never seen the top brass on wall street or the banks, insurence companies or the wealthy complain or do without. They have profited from War, The Highest Gas Prices Ever, Inflation, Job Loss, Forclosures. GREED seems to be the motivevation. I think it's about time something is changed.

    April 26, 2010 at 12:18 am |
  10. Richard Irland

    I received a brochure entitled Guide to Brokerage and Investment Advisory Services at Fidelity Investments that states "It is important for you to understand that our brokerage services and investment advisory services are separate and distinct." ...... "When we act as a broker for you, we also offer you investment education, research, planning assistance, and guidance designed to assist you in making decisions on the various products that you may wish to hold." ...... "When we act as your broker, we are held to the legal standards under applicable federal and state securities laws, and the rules of self-regulatory organizations for broker-dealers such as FINRA." ...... "When we act in a brokerage or insurance agency capacity, we do not have a fiduciary or advisory relationship with you and our disclosure obligations are more limited than if we did."

    If I, as a retail investor, cannot expect a fiduciary or advisory relationship from Fidelity Investments when they offer planning assistance and guidance that are "part of, and considered to incidental to the brokerage services that we (Fidelity Investments) provide", why should a professional investor expect anymore from Goldman Sachs?

    May 1, 2010 at 1:40 pm |