In a Leap of Faith, Obama Signs Bipartisan JOBS Act – Shar Adams (The Epoch Times) April 9, 2012 “In a leap of faith in America’s entrepreneurial spirit and the strength of U.S. security regulators, President Barack Obama signed the JOBS Act into law last week. Although the bill received rare bipartisan support, security agencies
Ban index funds, ETFs to rein in oil prices: groups- Roberta Rampton (Reuters) April 5, 2012 “Lawmakers should ban commodity index funds and exchange-traded funds, a coalition of consumer and public interest groups said on Thursday, blaming the speculative investment vehicles for surging oil and gasoline prices…. “You’re banning gambling that has no productive value
Conservative Candidate Supports Wall Street Speculation Tax – Sarah Anderson (Huffington Post) April 4, 2012 “The Obama administration shifted to a neutral stance on the European proposal last fall but they have not yet expressed support for taxing speculation here in the land of Wall Street. There is, however, growing support for the general concept
Ralph Nader: Open Letter To President Obama On Jobs Acts – OpEd – Ralph Nader (Eurasia Review) April 2, 2012 “The so-called JOBS (Jumpstart Our Business Startups) Act is not a true job creation bill – it is a ravenous beast in sheep’s clothing. The mis-named “JOBS” Act is riddled with cuts in investor-protection regulation,
“It’s par for the course for the GOP-controlled House to pass bills that few people notice and that ultimately go nowhere. But it’s rare for legislators to join hands across the aisle to roll back parts of President Obama’s signature legislative achievements. That’s what happened on Monday, when the House passed two little-noticed bills that changed the derivatives rules under the Dodd-Frank Act. … But critics of the bills, like Americans for Financial Reform, believe that the legislation could make substantive changes to Dodd-Frank that would increase risk and instability in the marketplace.”
“The report was commissioned by Morgan Stanley, one of the big banks lobbying to ease the regulation. But IHS maintains its analysis, content and conclusions are entirely independent. …However, Americans for Financial Reform, an advocacy coalition supporting the legislation, took issue with the report. ‘This is just the latest in a series of industry-funded studies ordered up by financial market interests expressly to undermine the Volcker Rule,’ executive director Lisa Donner told CNBC in response to a question. ‘They don’t want to have to stop the profitable and risky proprietary trading that the Volcker rule bans, and they are grasping at straws to protect the status quo.’”