Republicans Angry That SEC Allowing Public Comment Period for a Rule Change

By: Monday December 3, 2012 7:05 am

Normally you would attack a regulator for corruption on their way in the door, not on their way out. But Patrick McHenry (R-NC) claims that SEC Chair Mary Schapiro, in one of her final acts, burnished her legacy by delaying a rule that would allow companies trying to go public to solicit donations through public [...]

Regulators Straining to Figure Out How to Not Facilitate Frauds and Schemes With JOBS Act Rules

By: Tuesday November 20, 2012 7:45 am

We knew back when the poorly named JOBS Act passed into law that it would provide more opportunities for financial schemers to re-open bucket shops and rip off their clients with investment scams than provide opportunities for employment. And regulators tasked with implementing the law now see the same problems, which has caused delays in [...]

JOBS Act Gets Signed Today

By: Thursday April 5, 2012 8:24 am

President Obama will sign the JOBS Act today, a bill that sprung from his own Jobs and Competitiveness Council, a group with 19 corporate executives and 2 labor officials. Dealbook reports that Wall Street companies have begun to scour the bill for provisions that they can use to their advantage. Because that’s how it works, [...]

Deregulatory JOBS Act Gets Final Passage in the House

By: Wednesday March 28, 2012 8:15 am

The House may not have been able to pass a transportation bill yesterday to enable the smooth functioning of two million construction jobs, but they did find the time to kill a bunch of investor protections and deregulate the securities markets: The House on Tuesday afternoon approved the final, Senate-passed version of the Jumpstart Our [...]

Administration Proudly Announces They Initially Proposed JOBS Act Deregulation Bill

By: Thursday March 22, 2012 12:57 pm

I had a little Twitter spat with Zandar today after he responded to a tweet I wrote about the STOCK Act with a rejoinder that I probably thought it was “Obama’s fault.” Zandar has adopted this Sixth Sense, “I see Obama critics, they’re everywhere” mentality of late, extending even to bashing Jon Chait, one of [...]

Senate Passes JOBS Act, STOCK Act

By: Thursday March 22, 2012 10:57 am

It’s unusual when the Senate passes one bill in a single day, but today they’ve passed two. And both are an indication of the seriousness of legislating in the modern age. First, we have the JOBS Act, a bill that promises an impossible solution to an unrelated problem, which is a mask for its true [...]

JOBS Act Passes Cloture, Some Investor Protection Amendments to Get Post-Cloture Vote

By: Wednesday March 21, 2012 1:36 pm

The Senate invoked cloture today on the JOBS Act, the financial deregulation bill that Reid pulled from the floor yesterday after the failure of some amendments that would strengthen the investor protections. The vote was 76-22, with all the no votes coming from Democrats, including (surprisingly) New York’s Kirsten Gillibrand, who must be representing the [...]

Reid Pulls JOBS Act Bill After Amendments Fail

By: Tuesday March 20, 2012 3:48 pm

The Senate plan for the JOBS Act today, a financial deregulation bill that would weaken investor protections with no economic benefit, was for three cloture votes – an amendment to add investor protections to the bill, an amendment to attach a reauthorization of the Export-Import Bank to the bill, and, if those failed, a cloture [...]

Leading Dem Senators Want to Add Investor Protections to JOBS Act

By: Friday March 16, 2012 9:35 am

It appears a few Democrats have finally gotten around to reading the JOBS Act, the financial industry deregulation bill that would bring back penny-stock scams and remove investor protections. Multiple Democrats in the Senate have proposed changes to the legislation, which breezed through the House with ample Democratic support. “We can dial back this excessive [...]

JOBS Act Financial Deregulation Bill Could Get Tripped Up by Unrelated Measure

By: Thursday March 15, 2012 12:18 pm

Overlooked in the mockery of the GOP House taking some innocuous-seeming bills about small business capital formation and wrapping them up into a package to call them the JOBS Act is that the underlying bills themselves are really not good at all. It’s an effort to exempt a bunch of companies from reporting requirements and [...]

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