Stripping Existing Wall Street Regulations Taking a bunch of previously DOA financial bills that went nowhere when Democrats were in power, the Republicans created one big super-bill that their friends in the banking industry were no doubt proud to see moved forward. The bill would make it easier for corporations to commit fraud (and get away with it), allow executives to not have to disclose certain pertinent pieces of information to the public or investigators, and get rid of several established and important regulations that supposedly put a burden on business. The Republicans tried to push the legislation through swiftly while the normal House rules were suspended, but fortunately lacked the 2/3 majority necessary to pass the legislation during this time thanks to opposition from most House Democrats. Still, that wont likely stop Republicans from taking similar steps under circumstances where only a simple majority is necessary.
Posted on: Sun, 11 Jan 2015 13:42:25 +0000
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