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Sun Mar 11, 2012, 05:59 AM

 

Financial regulations gutted in new bill

This discussion thread was locked as off-topic by NancyBlueINOklahoma (a host of the Latest Breaking News forum).

Source: Kathleen Pender, Chronicle Columnist

It's hard to believe that Democrats, who brought you the Dodd-Frank financial regulation act and the Consumer Financial Protection Bureau, are solidly backing a bill that would weaken or obliterate many regulations designed to safeguard investors.

The bill, HR3606, sailed through the House Thursday with 222 Republicans and 168 Democrats voting for it. Only 23 members, all Democrats, voted against it. President Obama has endorsed the bill. The Senate is fast-tracking its own version, which could come to the floor Monday night.

Under the guise of creating jobs, the House bill would make it easier for companies to raise money from the public without fulfilling some - or in certain cases virtually all - of the obligations designed to protect investors in public companies. However, there is no requirement or guarantee that companies would use any of the money to hire a single person.



Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/03/11/BUPU1NIGVF.DTL&type=business

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Replies to this discussion thread
Arrow 4 replies Author Time Post
Reply Financial regulations gutted in new bill (Original post)
FreakinDJ Mar 2012 OP
Lasher Mar 2012 #1
DeSwiss Mar 2012 #2
hjdxfgwe Mar 2012 #3
OKNancy Mar 2012 #4

Response to FreakinDJ (Original post)

Sun Mar 11, 2012, 07:01 AM

1. More deregulation of investment firms.

Exactly the wrong thing to do. Calling it a jobs bill doesn't make it less corrupt.

Edit: This bill passed in the House of Representatives by roll call vote. The totals were 390 Ayes, 23 Nays, 19 Present/Not Voting.

http://www.govtrack.us/congress/vote.xpd?vote=h2012-110

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Response to FreakinDJ (Original post)

Sun Mar 11, 2012, 07:32 AM

2. Oh look!!! Change we can believe in.

 

- Because we've seen it all before.......

K&R

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Response to FreakinDJ (Original post)

Sun Mar 11, 2012, 07:33 AM

3. Spam deleted by OKNancy (MIR Team)

 

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Response to FreakinDJ (Original post)

Sun Mar 11, 2012, 07:42 AM

4. Locking - this is not Latest Breaking News

The article is an opinion/analysis piece. Please re-post in Gen. Discussion or Good Reads. Thanks

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