Capital Markets and Government Sponsored Enterprises Subcommittee Chairman Scott Garrett announced today the Subcommittee will convene for a hearing entitled “Transparency, Transition and Taxpayer Protection: More Steps to End the GSE Bailout” on Wednesday, May 25th at 2 p.m. in room 2128 Rayburn.
The hearing continues the Financial Services Committee’s ongoing effort to end the… Read more »
In recent interviews two Democrat officials warned about some of the unintended consequences of the Dodd-Frank Act. These quotes are of particular interest as the Financial Services Committee will consider common-sense legislation next week to promote a functioning derivatives market by giving regulators more time to write the rules and ensure coordination among regulators. H.R. 1573… Read more »
POLITICO’s “Morning Money” reports today that members of NY’s congressional delegation, including several Democrats on the Financial Services Committee, have written regulators to express their concerns that proposed rules governing derivative margin requirements “will inevitably result in significant competitive disadvantages for U.S. firms operating globally.” Could it be possible… Read more »
Financial Services Committee Chairman Spencer Bachus announced the Committee’s planned schedule for the weeks of May 23 and May 30. The schedule shows the Committee will continue focusing on policies that encourage economic growth and job creation.
“Promoting policies that will strengthen our economy and create jobs remains our Committee’s top priority,” said Chairman… Read more »
WASHINGTON: Financial Services Committee Chairman Spencer Bachus welcomed Rep. Stephen Fincher (TN) to the Committee today. During the Full Committee mark up, Chairman Bachus offered a resolution appointing Rep. Fincher to the Financial Institutions and Consumer Credit Subcommittee, and the Oversight and Investigations Subcommittee. Rep. Fincher is filling the vacancy left by… Read more »
Claim: During a May 10 appearance on MSNBC, Ranking Member Barney Frank said, “We will be voting this week in the Committee on Financial Services on a Republican bill, believe it or not, which would make it impossible to deal with speculation in the oil industry.”
FACT: Don’t believe it because this allegation is simply untrue. The Commodity Futures Trading Commission… Read more »
WASHINGTON: As the nation’s economy continues to struggle, the Capital Markets and Government Sponsored Enterprises Subcommittee approved bills on Wednesday that will promote job creation, economic growth and capital formation. The bills now move to the full Financial Services Committee for consideration.
Subcommittee Chairman Scott Garrett said, “The subcommittee… Read more »
What is 20 times taller than the Statue of Liberty, 15 times longer than "Moby Dick" and would take the average reader more than a month to read, even if you hunkered down with it for 40 hours a week?
The answer: The growing paper trail formed by the Dodd-Frank law, passed by Congress last year to give U.S. financial regulations their biggest overhaul since the Great Depression.… Read more »
A provision added to the Dodd-Frank Act without any debate requires publicly traded companies to disclose their median annual total compensation of all employees. Two months after the Dodd-Frank Act was signed into law, the Financial Services Committee received testimony about the enormous burden and complexity this provision poses to publicly traded companies, with very little, if… Read more »
The Dodd-Frank Act included a liability provision for credit rating agencies if their ratings were determined to be inaccurate. Within days of the Dodd-Frank Act becoming law, this liability provision temporarily shut down the asset-backed securities market, forcing the Securities and Exchange Commission (SEC) to step in and issue a temporary no-action letter on July 22, 2010. On November… Read more »
