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The Sound of Ideas

How Financial Reform Affects You

Posted Tuesday, July 20, 2010

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President Obama will soon sign into law the most sweeping overhaul of the American financial system since the Great Depression. It's meant to provide more protection to mortgage holders and investors and cut the odds the nation will suffer another huge financial crisis. On Tuesday's Sound of Ideas, will the bill save Wall Street and Main Street or, as critics contend, could it jeopardize the recovery by constraining credit, burdening banks with paperwork and putting too much power into the hands of government bureaucrats? Join us with your thoughts, this morning at 9:00.


Economy, Regional Economy/Business - Analysis and Trends, Government/Politics


Kevin Jacques, Boynton D. Murch Chair in Finance and Associate Professor, Baldwin-Wallace College
Marc Stefanski, President and CEO, Third Federal Savings and Loan
Teresa Dixon Murray, business columnist, The Plain Dealer

Additional Information

Wall Street Journal analysis of Dodd-Frank

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Sal 8:49 AM 7/20/10

We took out a fixed rate loan with Third Federal in 1995 when we built our house and paid 20% down. The bank made sure that our total loans did not exceed 35% of our AGI. We were conservative and never refinanced although the rates came down. We prepaid on our house and paid of our loan early and saved us ourselves about 45 K in interest. I do not agree with Mr. Stefansky and the Republicans regarding bank regulations. The economic mess occurred because banks and big business were given a pass on regulations. When small customers, like myself and my wife, sign the loan documents, the legal wording is entirely one-sided. The regulations help to somewhat even the palying field but knowing American business and politics, I think the decks will still be stacked against the small guy - Republicans, Democrats and Independents.


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Every weekday at 9:00 AM (EST), The Sound of Ideas reports the news, explains the news, and sometimes makes news. The Cleveland Press Club awarded it “Best Radio Show” in Ohio and thousands daily find it to be an indispensable source of information about what’s most important to Northeast Ohioans.

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