Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

State securities cops slam bill as Wall Street sop

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
 
Yo_Mama_Been_Loggin Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jul-19-03 07:47 PM
Original message
State securities cops slam bill as Wall Street sop
What's this B.S. about conservatives favoring local control?

By Kevin Drawbaugh


WASHINGTON, July 18 (Reuters) - U.S. state securities regulators on Friday attacked a bill in Congress that would reduce their power, saying it would shield Wall Street from aggressive investigators such as New York's Eliot Spitzer.

Just months after Wall Street brokerages agreed to pay $1.4 billion to settle a federal-state probe of research analyst misconduct, the bill before Congress would have prevented a Spitzer-led precursor to that settlement.

The bill authored by Louisiana Republican Rep. Richard Baker has passed the U.S. House of Representatives Capital Markets Subcommittee he chairs. Congressional aides said the measure may be headed for full committee review next week.

The measure attempts "to take away powers from state securities regulators," said Joe Borg, securities director of Alabama and ex-president of the North American Securities Administrators Association, which represents state regulators.

-more-

http://biz.yahoo.com/rf/030718/financial_states_1.html

Printer Friendly | Permalink |  | Top
 
aquart Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jul-19-03 07:55 PM
Response to Original message
1. Everybody put your money in the market!
It's all clean and safe now!

Get in on the IPO for the Brooklyn Bridge!
Printer Friendly | Permalink |  | Top
 
The Backlash Cometh Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jul-19-03 08:00 PM
Response to Original message
2. Maybe the government doesn't want Wall Street investigated
by the locals, because we would be very, very surprised by who really is benefiting from insider trading.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Fri Nov 17th 2017, 11:59 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC