Wednesday, July 21, 2010
One subjective way of ranking U.S. law firms is by a survey of law firm associates, which is the basis for the Vault Law 100 Firm Rankings 2011, which have just been issued. The LawPundit's alma mater law firm, Paul, Weiss, Rifkind, Wharton & Garrison LLP moved up from 13th to 12th in the rankings.
Posted by Andis Kaulins at 7/21/2010 09:46:00 PM
Restoring American Financial Stability Act
is now law.
Restoring American Financial Stability Act
is now law.
- Check out at the Huffington Post 10 Ways New Wall Street Reform Law Will Help You, Rep. John B. Larson, Chairman of the Democratic Caucus in the U.S. House of Representatives.
"Today, President Obama signed into law the most sweeping reforms of our
financial system since the Great Depression and the strongest consumer
protections in history.
We've put together a video that walks through what the bill means for the
Here are a few highlights:
To learn more and watch the video, head over to WhiteHouse.gov:
- There's now a single agency responsible for looking out for consumers: the
Bureau for Consumer Financial Protections. Instead of seven agencies dealing
with these issues part-time, one agency will be in charge of establishing clear
rules of the road for banks, mortgage companies, payday lenders and credit card
- Mortgage brokers won't make a higher commission by selling people mortgages
that they can't afford. This was a major factor in the recent housing crisis.
Now brokers and banks have to take into consideration a borrower's ability to
repay before giving a home loan.
- You’ll be able to get a free credit score if you’re denied a loan, an
apartment, or a job because of your credit, so you won’t be turned down without
knowing why. Right now, you get one free credit report a year, but you can’t see
your credit score for free, even if a lender or employer rejects your
application because you have bad credit.
- No more bailing out banks with our tax dollars, no more "too big to fail."
If a company's in trouble because of risky gambles, it will have to liquidate --
and do so before it can take down the rest of the financial system.
Yesterday, under pressure from the President, the Senate overcame a partisan
minority and took an important step toward passing an extension of unemployment
insurance. We need to keep the pressure on to ensure that there are no more
delays and that this assistance gets to our friends and neighbors who lost their
jobs during this crisis as soon as possible.
Their struggles are a staggering reminder of how much damage has been done
and how many families have had it so tough for so long now -- in no small part
due to reckless greed and irresponsibility hundreds or thousands of miles away
on Wall Street.
The problem was that year after year, decade after decade, Wall Street gained
more and more power in Washington, and they and their allies in Congress fought
with everything they had to derail these reforms -- but this time there was a
President who fought back, and this time they lost.
Let me tell you something: This President has been fighting for the middle
class since Day 1. He stood strong for the Recovery Act that's created or saved
3 million jobs and cut taxes for 95 percent of working families. He fought tooth
and nail against the insurance companies to pass health reform after seven
previous presidents failed. And now the middle class has won out over the Wall
Wall Street reform is a big deal -- and it's only the latest major step
forward for the American people.
P.S. If you've made it this far, I know you're interested in Wall Street
reform. Check out the video, and share it with folks who might find it
Posted by Andis Kaulins at 7/21/2010 08:52:00 PM
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