Republicans Offer Bills To Roll Back Wall Street Reforms

@gladys46 (1205)
United States
March 21, 2011 7:47am CST
In their quest to undo Wall St. reforms advanced by a Democratic Congress, republicans offer the following bills: 1. The Responsible Consumer Financial Protection Regulations Act = replaces the presidentially appointed director of the newly created Consumer Financial Protection Bureau (Elizabeth Warren) with a five-member commission. 2. The Asset-Backed Market Stabilization Act = eliminates Financial Reform Law provision that hold liable credit-rating agencies like Moody's and Standard and Poor's if their ratings are inaccurate. 3. The Small Business Capital Access and Job Preservation Act = eliminates requirement that advisers to private equity funds register with and be regulated by the SEC. 4. The Business Risk Mitigation and Price Stabilization Act = exempts some corporations from requirement of processing derivative transactions through a clearinghouse and posting collateral to cover those transactions. 5. The Burdensome Data Collection Relief Act = repeals a provision requiring publicly traded companies to disclose the average annual compensation of all employees and ends a requirement that they disclose how employee pay compares to the pay of the top executive. .... Reported at the Washingtonexaminer, these are five republican bills aimed at nibbling at the edges of the Wall Street reforms President Obama signed into law in July. Why not simply attempt to repeal Wall St. Reforms entirely? Are any of the above mentioned republican repeals of import to you?
1 response
@artistry (4152)
• United States
26 Mar 11
...Hi there gladys, I would guess that this is in part a response to Representative Issa's request to Wall Street to send him everything that they would like to basically get rid of, to help them earn more money and push the envelope to the very brink before thay break the law. He was quite willing to consider everything they had to tell him and then some. They want to grab as much money as they can and do nothing to curb the abuses by the folks on Wall Street, and squash the consumer every way they can. Money will flow into those lawmakers pockets for their campaigns once it is all over and done with. Disgusting. Cheers.
@gladys46 (1205)
• United States
27 Mar 11
Hi artistry! Exactly ... this is all so very blatant in-our-faces!! Note there were zero responses!! Speaks volumes doesn't it?