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financial regulation
Dodd-Frank Wall Street Reform: Building a Better Trap
By Robert and Donna Trussell - Politics Daily...
Could Republicans Really Repeal Financial Reform?
By not in system - AOL News(July 16) -- Mere hours after Congress passed financial regulatory reform legislation, and with a few days still to go before President Barack Obama even signs it into law, some Republicans are already calling for its repeal. House Minority Leader John Boehner was joined by other party leaders Thursday when he announced to reporters, "I think it ought to be repealed." Republicans had earlier pledged to repeal health care reform, saying they would vote out the legislation if they secured the sufficient majorities in Congress. Can they really do it? And what does this say about the party? The ...
Sen. Blanche Lincoln Intervened for Arkansas Bank, Report Says
By Christopher Weber - Politics DailySen. Blanche Lincoln (D-Ark.), who helped craft the financial regulation overhaul currently making its way through Congress, is seeking an exemption on rules regarding the raising of capital for a major bank in her home state, The Wall Street Journal reported. Under Lincoln's proposed change, Bentonville's Arvest Bank would be excused from a provision that could require financial institutions to raise more capital to pay dividends, the newspaper said. Other Senate Democrats had planned to exempt only banks with less than $10 billion in capital from the provision. But the Journal said Lincoln ...
Democrats Begin Drive to Push Through Priorities Before Elections
By Patricia Murphy - Politics DailyLeaders of the House and Senate will begin a summer sprint this week to push through a huge list of Democratic priorities amid a backdrop of a still-weak economy, an out-of-control disaster in the Gulf of Mexico, a jittery electorate with a distaste for incumbents, and a federal deficit that is already projected to hit a record $1.5 trillion this year. It's a tough environment for Democrats, made doubly precarious by the looming November mid-term elections, but Senate Majority Leader Harry Reid said Monday he's ready to get started. "The work period between now and July 4 is short, but our ...
Financial Overhaul Bill Stalls on Senate Floor
By Joseph Schuman - AOL News(May 19) -- Three weeks after Democrats won a fight to move debate on a Wall Street overhaul to the floor of the Senate, they are struggling anew to put the measure to a final vote. A bid to close debate failed today when the measure's backers couldn't muster the 60-vote majority needed to set up a final tally on the legislation aimed at preventing future financial crises. The 57-42 vote found all but two Republicans against the cloture motion, something Majority Leader Harry Reid was quick to point out. "I've never seen a party so consistently and passionately defend special interests," ...
GOP Blocks Vote to End Debate on Bank Regulation
By not in system - AOL NewsWASHINGTON (May 19) -- Senate Republicans on Wednesday delayed final action on a sweeping financial regulation bill, raising an obstacle to the legislation as it approached the home stretch. The vote was 57-42, three votes shy of the 60 needed to pass. Three Democrats joined 39 Republicans in voting against the measure. Among them was Senate Majority Leader Harry Reid, who switched his vote from yes for procedural reasons. Reid said he'd seek a new vote Thursday. With Sen. Arlen Specter, D-Pa., absent, Democrats needed one more vote to demonstrate to Republicans that they would eventually ...
Tighter Financial Regulation Backed by Two-Thirds of Public, Poll Finds
By Bruce Drake - Politics DailyAs Democrats and Republicans prepare to face off Monday on legislation to more tightly regulate the financial industry, a new poll says that about two-thirds of Americans support stricter federal rules on the way banks and other financial institutions conduct their business. Sixty-five percent backed proposals to rein in banks and the financial industry while 31 percent opposed them, according to a Washington Post/ABC News poll conducted April 22-25. The public is split at 48 percent each when asked if they approve or disapprove of how President Barack Obama is handling the issue, but they ...
Opinion: Financial Reforms Go Too Far
By not in system - AOL News(April 22) -- As the debate over financial reform intensifies, it's easy to forget that there is a shared desire across the political spectrum to put an end to bailouts and to the idea that any firm should be too big to fail. Supporters of the plan now pending in the Senate argue that it would achieve these goals. It would not. In fact, it would institutionalize both. Key to the Senate bill is a Financial Stability Oversight Council, made up of nine existing agencies, with broad regulatory power over companies it considers systemically important, including authority to order the firm to ...
Opinion: Bringing Shadow Banks Into the Light
By not in system - AOL News(April 22) -- With the seemingly endless congressional battle over health care reform finally concluded, the Obama administration has turned its sights this month on reforming the regulations that govern Wall Street and that failed us so massively during 2007 and 2008. The subject is a complicated one (something the banks are eager to take advantage of), and the bill drafted by Sen. Chris Dodd, D-Conn., is equally complicated. But the overall point is really quite simple: The massive bailouts undertaken in the fall of 2008 are unacceptable and reforms must be implemented to make sure they ...
Before a Polarized Fall Campaign, a Bit of Bipartisanship
By Jill Lawrence - Politics DailyDemocrats are feeling like the political winds have suddenly shifted, and are no longer blowing right in their faces. "Two major victories in one week," President Obama said of new health care and student loan laws he has signed in the past few days. And that doesn't even count the nuclear arms reduction deal with Russia that he's scheduled to sign next week in Prague. But don't cry for the GOP, because Republicans feel like winners, too. In fact, one GOP pollster, Ed Goeas, joked that he almost didn't call me back when I asked in an e-mail if the landscape had shifted for the midterm ...
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