The House Finance Bill
June 9th 2010 20:53
Here is the URL link to read the House Bill that was voted on last year concerning financial reform. Really Long Link
The House and the Senate are taking the next step which is to merge both bills into one. I do not believe the merger and then agreement would be difficult since there are not a great many differences in the bills.
The Senates bill has a provision that forces big banks (wouldn’t you like to know what that term actually means. Big banks meaning lots of branch offices, number of employees, how much they invest or loan people. What is a “big bank”?
So look at both bills and read them – yesterday I posted the Senate talking points bill because that is all I could find today it is the House Bill.
One of the differences I find is that the Senate bill looks to possibly have the “big banks” divide their various business dealings into smaller and separate subsidiaries? But isn’t that how banks make capitol to lend out by being lucrative in their investing I generally do not comment but since I haven’t gotten many comments I don’t know how you are thinking and thought I would start the ball rolling.
Next point - The bill seeks to curb abusive lending, particularly in the mortgage industry, and to ensure that troubled companies, no matter how big or complex, can be liquidated “On January 18, 1999, Martin Luther King Day, President Bill Clinton declared that he was "pleased to announce the largest settlement in history in a lending discrimination [case], for home lending.... The Columbia National Mortgage Company will offer - listen to this - $6.5 billion in home mortgages and extra effort to help 78,000 minority and low- and moderate-income families unlock the door to home-ownership "at no cost to taxpayers.” Reprint from the New York Times 1999.
But read them for yourself – find out what you like and do not like about the bills and how this is going to impact you. I have not seen any CBO scoring on this and it does have some financial impact so that concerns me.
Refernces
Really Long Link
Really Long Link
The House and the Senate are taking the next step which is to merge both bills into one. I do not believe the merger and then agreement would be difficult since there are not a great many differences in the bills.
The Senates bill has a provision that forces big banks (wouldn’t you like to know what that term actually means. Big banks meaning lots of branch offices, number of employees, how much they invest or loan people. What is a “big bank”?
So look at both bills and read them – yesterday I posted the Senate talking points bill because that is all I could find today it is the House Bill.
One of the differences I find is that the Senate bill looks to possibly have the “big banks” divide their various business dealings into smaller and separate subsidiaries? But isn’t that how banks make capitol to lend out by being lucrative in their investing I generally do not comment but since I haven’t gotten many comments I don’t know how you are thinking and thought I would start the ball rolling.
Next point - The bill seeks to curb abusive lending, particularly in the mortgage industry, and to ensure that troubled companies, no matter how big or complex, can be liquidated “On January 18, 1999, Martin Luther King Day, President Bill Clinton declared that he was "pleased to announce the largest settlement in history in a lending discrimination [case], for home lending.... The Columbia National Mortgage Company will offer - listen to this - $6.5 billion in home mortgages and extra effort to help 78,000 minority and low- and moderate-income families unlock the door to home-ownership "at no cost to taxpayers.” Reprint from the New York Times 1999.
Refernces
Really Long Link
Really Long Link
| 84 |
| Vote |
subscribe to this blog
