WASHINGTON (Reuters) - Republicans in the U.S. House of Representatives failed on Wednesday to round up enough votes for a bill scaling back various financial reforms, a surprising defeat in an area conservatives hoped to prioritize this year.
... Before the vote on Wednesday, Democrats slammed the bill as a Republican effort to chip away at the 2010 Dodd-Frank financial law, including one provision that would have given banks extra time to comply with part of the Volcker rule.
... The most controversial aspect of the proposal was the section related to the Volcker rule, which bans banks from making risky trades with their own money and prohibits certain investments in financial products.
The bill gave banks more time to exit positions in collateralized loan obligations, or CLOs, which are essentially bundles of business loans. Banks had complained that they would have to quickly abandon those investments.
Read more: http://news.yahoo.com/u-house-fails-approve-bill-diluting-dodd-frank-204253008--sector.html
[font color = red]On Edit[/font] (thanks Sunseeker in #3) "The GOP used a procedure called a "suspension" that requires a 2/3 vote. So their majority was not enough. "
(The above doesn't explain why the GOP chose to do the above, sigh. One question leads to another. Maybe Boner can't count.)
Anyway, great news, although probably Dodd-Frank, as watered down as it already is, will be insufficient to prevent another derivatives meltdown.
[font color = red]More on Edit:[/font]
PoliticAverse in #5 has the rollcall link (35 Democrats voted for and 1 Republican voted against)
DCBob in #7 explains why the Repubs might have gone this route --
Source: Yahoo News
Commissioner investigating dramatic drops in arrests to determine whether the dip is a deliberate jab at NYC mayor
Any New York City police officers refusing to make arrests or issue traffic violations to express their dissatisfaction with Mayor Bill de Blasio will face forceful consequences, the departments top cop said Monday.
New York Police Commissioner Bill Bratton said at a press conference that while he is not convinced the NYPD's rank-and-file is engaging in an organized work slowdown, he is actively investigating a dramatic drop in arrests in recent weeks and will deal swiftly with any intentional slacking off.
Were watching that very closely, Bratton said Monday of the dip in summonses and arrests. Hes ordering a comprehensive review of what has been happening, drilling down to the precinct and squad car level to determine who is working and who may be dropping the ball.
The number of summonses in the city is down 90 percent for the week ending Sunday, according to the Daily News, while arrests are down 56 percent compared to the year before.
Read more: http://news.yahoo.com/nypd-work-slowdown-will-be-dealt-with--very-forcefully---bratton-says-230926632.html
and then there is some bilge about how this doesn't necessarily mean there is a work slowdown going on.
Black people shouldn't interrupt white people's dinner, according to some ( http://www.democraticunderground.com/1014980489 ), but I guess a 50-90% work slowdown is an OK form of protest.
Source: Yahoo News
In a twist on sit-in-style protests, civil rights activists entered several restaurants in New York City and Oakland, Calif., on Sunday in what organizers billed as Black Brunch.
About three dozen people participated in demonstrations in New York, where they momentarily disrupted meals at popular midtown eateries, including Lallisse, Maialino and Pershing Square places protesters identified as predominantly white spaces.
At each stop, demonstrators read the names of African-Americans killed by police.
Every 28 hours, a black person in America is killed by the police, the protesters said. These are our brothers and sisters. Today and every day, we honor their lives.
Read more: http://news.yahoo.com/black-brunch-protests-nyc-berkeley-oakland-190212742.html
Lots of tweets and pictures in the article -- definitely worth the click and scroll through. Here's one:
Profile InformationGender: Male
Member since: Sat Jan 1, 2005, 03:45 AM
Number of posts: 10,825
About progreeThanks for all the good wishes. A wellness check was done several days ago My next door neighbor of 43 years is looking out for me
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