46. Repeal H.R. 4541: Commodity Futures Modernization Act of 2000. Commodity Futures Modernization Act was passed along with twenty-five other bills in H.R. 4577: Consolidated Appropriations Act of 2001. This bill was pitched as an increase in regulation but in fact it was a deregulation bill. This bill legalized credit-default swaps (CDS). This bill also made legal derivatives, which is a form of gambling upon assets that are not owned by the better. Derivatives can be hedged, which is likened to placing a side bet on your bet.
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This practice of packaging large numbers of bills should not be allowed to happen. Each bill must be considered on its own merits. Should congress continue with the practice of packaging bills, then the President of the United States must have line item veto powers as part of the constitution. Congress must have a system to overrule the line item veto power, should a super majority exist. This implies that congressmen actually read every bill that is passed; I doubt this is true. The reality is that most party politicians seek advice from their party leaders and vote party line. Another indication that a two party system is a less efficient system.
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With Passage of S. 900 [106th]: Gramm-Leach-Bliley Act of 1999, being still intact, bankers can still buy, sell, and create securities. The banker bailout money can be used to artificially prop up DJIA and NASDAQ stock exchanges. The people see that the current stabilization of the markets as an opportunity to reinvest. Then the bankers pull out the money and clean up on the suckers. This boom and bust cycle is what Glass-Stegall Act of 1933 was created to prevent. Whenever there is a centralization of money and the freedom to gamble is allowed, it will occur.
An article I found recently hints as to this happening now; link: http://www.marketskeptics.com/2009/06/dark-pools-and-insider-trading-growing.html