More on Today’s Arizona Immigration Ruling

By: Monday June 25, 2012 1:40 pm

I could be accused of being too optimistic about the Supreme Court immigration ruling. I recognize that the portion of the law the Court left intact, the “show me your papers” measure, was most certainly the most important. But the Court didn’t “uphold” that part of the law in any way. They basically let it [...]

Supreme Court Immigration Ruling Reflects Election Debate on Immigration

By: Monday June 25, 2012 9:11 am

The Supreme Court’s opinion in Arizona’s SB1070 fits nicely with the Presidential election. In a bit of coincidental timing, Mitt Romney happens to be in Arizona today at a fundraiser. And he has basically lined up with the Arizona law, most of which was overturned today as pre-empted by federal oversight. Arizona Governor Jan Brewer [...]

Treasury Criticizes OCC Publicly on Pre-Emption in Dodd-Frank

By: Wednesday June 29, 2011 1:02 pm

The Treasury Department, not exactly hero to the consumer in the Obama era, is so incensed by the Office of the Comptroller of the Currency’s draft rule on Dodd-Frank consumer protection that they took the rare step of publicly criticizing the fellow regulator: The extent to which states can trump federal regulations and enforce their [...]

State Attorneys General Fighting Foreclosure Fraud Coming Back in Polls

By: Sunday October 31, 2010 2:00 pm

Yves Smith wrote the best explanation of the mortgage mess in 1000 words or less, and to her great credit got it published in the New York Times. It absolutely cannot be improved upon – it sums up the last several years of breaking the mortgage market, leading up to the current crisis, beautifully. (I’d [...]

Warren on Looming Pre-Emption Compromise: “States Ought to Be Able to Enforce Their Own Laws”

By: Tuesday May 18, 2010 10:13 am

At 2:15 today, the Senate will take up two amendments that would weaken the Consumer Protection bureau housed inside the Federal Reserve. Tom Carper (D-DE) has been working for weeks on an amendment that would set a federal standard for consumer protection and let federal regulators pre-empt the ability for Attorneys General to enforce their [...]

Cloture Filed On Wall Street Reform, But Lots More Battles Expected

By: Monday May 17, 2010 4:12 pm

Senate Majority Leader Harry Reid, as expected, filed cloture on the financial regulatory reform bill in the Senate, meaning that the cloture vote could happen as early as Wednesday night. However, in filing cloture, he also said that there will be voting on amendments tomorrow and even on Wednesday. Because Democratic Senators out on the [...]

Amendments Update, Wall Street Reform

By: Monday May 17, 2010 10:31 am

Votes are scheduled to begin on amendments to the Wall Street reform bill tonight at 5:30 pm ET. We don’t know precisely which amendments are pending, but we do know that the McCain-Cantwell amendment to restore Glass-Steagall protections was mentioned on Thursday night as being on the list. However, those lists haven’t been totally accurate. [...]

Consumer Financial Protection Faces Hurdles

By: Friday May 14, 2010 12:13 pm

If you were to ask me where Wall Street reform stands right now, I’d give it an incomplete. Well, actually I’d give it a C. There are some decent measures in the Senate bill, even a couple transformative ones, but overall some gaps in the regulatory structure remain, and the same financial oligarchs will have [...]

What Would Make The Climate Bill Tolerable?

By: Thursday May 13, 2010 2:13 pm

The choice before the Congress is not between the Kerry-Lieberman climate bill and the status quo on greenhouse gas emissions. John Kerry himself admitted that today. The EPA will step in to regulate carbon in the event of no bill passing by January 1, 2011. So the challenge for the Kerry-Lieberman bill is to explain [...]

Used Car Salesmen Tap Brownback to Protect Their Dealmaking in FinReg

By: Wednesday May 12, 2010 9:59 am

In the House Financial Services Committee, Republicans and some conservative Democrats managed to carve out an exemption for auto dealers from oversight by the Consumer Financial Protection Agency, over opposition from the White House and the Democratic leadership. Now the same interests are working with Sam Brownback in the Senate, who is offering an amendment [...]

The American Power Act – A Climate Bill Oil Companies Can Love

By: Wednesday May 12, 2010 7:11 am

You can read the 20-page summary of the Kerry-Lieberman climate and energy bill, known as “The American Power Act,” or you can opt for the smaller four-page summary. Either way, you’re going to find a lot to like, if you’re a dirty energy producer. The bill claims to maintain a carbon cap, reducing levels 17% [...]

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