House Republicans propose Fed reforms, set hearing

Comments (5)
Burns0011 wrote:

This act might as well be labeled the “Bank Cheaters and Bribery Aid Act.” Because on the one hand, it forces the Federal Reserve to disclose how it measures how close a bank is to collapsing, which allows the banks to game the system and cheat, and on the other hand it forces the Federal Reserve to disclose how much its top people earn, which allows the banks to ‘bribe’ away those top people with better offers.

Jul 07, 2014 5:56pm EDT  --  Report as abuse
SunnyDaySam wrote:

Does anybody think the GOP House will do anything for the Average American? yeah, me neither. they sure haven’t up ’till now. The Party of Nothing has Nothing.

Jul 07, 2014 6:44pm EDT  --  Report as abuse
DurtBagg wrote:

The bill, sponsored by Representatives Bill Huizenga of Michigan and Scott Garrett of New Jersey, would require the Fed to conduct cost-benefit analysis when adopting new rules and require transparency for Fed stress tests on banks and on international regulations. The bill also would require the Fed to disclose the salaries of highly paid employees, according to the memo, which was obtained by Reuters.


REPUBLICANS WANT FEW REGULATIONS… for the rich, but more for the rest of us.

Harvard Law Review
Deregulation: A Major Cause of the Financial Crisis
The articles in this issue explore the importance of government regulation of business in protecting the health and welfare of the American people.

SEC Chairman Cox Admits Deregulation Caused Crisis
Bush Appointee Christopher Cox admitted the credit crisis was due to deregulation.

“Republicans want smaller government for the same reason crooks want fewer cops.” – James Carville

Jul 07, 2014 7:29pm EDT  --  Report as abuse
Amwatching2c wrote:

Jobs, Jobs, Jobs, Jobs, do they listen to themselves? Or is their number one priority a LIE? Maybe a suit against the President is a job creator for lawyers. Investigate this. (shooting the bird) I’m sorry, I didn’t mean to bring the war criminal Cheney into the conversation.

Jul 07, 2014 8:39pm EDT  --  Report as abuse
Greenspan2 wrote:

“Congressman Scott Garrett, a New Jersey Republican, introduced legislation this year that takes aim at the Financial Stability Oversight Council (FSOC), created under Dodd-Frank to monitor emerging systemic risks.”
The financial crisis and further enrichment of a few through the transfer of money from the general public was a result of deregulation and congressional protection of the banking, real estate, and insurance industries in spite of egregious unethical and even criminal behavior. Now that a modicum of stabilization has been obtained, the Republicans are back trying to do it all over again.

Jul 07, 2014 9:54pm EDT  --  Report as abuse
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