"House approves financial overhaul; Brown’s doubts delay Senate vote" by Matt Viser, Globe Staff | July 1, 2010
WASHINGTON — The House of Representatives overwhelmingly approved a massive restructuring to the nation’s financial laws last night, but the Senate canceled plans to vote on the legislation this week....
Senate Democrats had also wanted to pass the bill this week and have it to President Obama before July Fourth, but they ran into several hurdles....
Senate leaders now hope to hold a vote in about two weeks.....
Still, Democrats have been able to muster just enough support for it to pass each step of the way. If the bill is passed by the Senate, several months after health care was approved, it would give Obama and Democrats a major tool to use in the midterm elections....
Short of ENDING the WARS and HUMILIATING SERVICE to Israel nothing is going to help them.
Oh, held up because of Brownie, huh?
"Brown’s threat gets bank tax removed; Finance bill’s funding reworked" by Matt Viser, Globe Staff | June 30, 2010
WASHINGTON — Senator Scott Brown yesterday forced Democrats to remove a $19 billion tax on big banks and hedge funds from the proposed Wall Street regulatory overhaul, the second time the Massachusetts Republican has used his pivotal role in the Senate to influence the legislation in favor of major financial institutions.
I'm sure he really had to bend elbows.
After Brown threatened in writing yesterday to oppose the package unless the $19 billion tax was eliminated, House and Senate lawmakers reconvened late yesterday and agreed on a new way to pay for the additional regulatory oversight in the sweeping legislation.....
Instead of the tax, Congress would use $11 billion in funds from the 2008 bank bailout, combined with a small increase in bank fees paid to the Federal Deposit Insurance Corp....
Looks like YOU are PICKING UP the TAB AGAIN, taxpayers!
Brown, as a condition of his support for an earlier version of the bill, previously won provisions allowing
Yesterday, Brown again forced changes desired by the financial industry, the sector that produced the most campaign contributions for his election. Brown said he was looking out for consumers....
Yeah, HIS CAMPAIGN COFFERS that CONSUME KICKBACK CASH!
“I’m puzzled that my Republican friends wanted to come to the rescue of large financial institutions,’’ said Representative Barney Frank, a Newton Democrat and the chairman of the House Financial Services Committee....
Yeah, okay, whatever, Barn.
Doing a heck of a job, 'eh, Brownie?
And look at who is singing his praises:
"Politics gives birth to uncommon partnership; Brown, Frank finding ways to span party divide" by Matt Viser, Globe Staff | July 4, 2010
WASHINGTON — Representative Barney Frank, the face of liberal Democrats, had once dismissed Senator Scott Brown, the poster candidate of Republicans and the Tea Party movement....
But now....
the Odd Couple of Massachusetts politics....
Which one is Felix and which one is Oscar?
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Wow, that sure is a lot of print!!!
That must be why I'm feeling sick.
"Key US bank regulator to step down next month" by Daniel Wagner, Associated Press | July 9, 2010
WASHINGTON — John Dugan, comptroller of the currency, a Bush appointee, and a former bank lobbyist, has been criticized for pushing policies that benefit the financial industry at the expense of consumers. He blocked states’ attempts to crack down on abusive lending by national banks. He is popular among bank lobbyists seeking to weaken proposed regulations.
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Why?
They will be the ones writing the regulations!
Related: Wall Street Writing Washington Regulations
Confirmed:
"Finish line is in sight for financial overhaul bill
After more than a year of debate, Democratic leaders in the Senate are trying to secure the final votes needed to pass financial overhaul legislation this week....
Even if President Obama signs the bill into law, not all the changes would occur overnight. Throughout the bill, federal monitors are given one to two years to write the new rules for Wall Street. In some instances, the timing is not even specified....
Of course, YOU KNOW WHO will be WRITING the REGS, right?
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