It appears that the definitive bill for financial regulatory reform is now HR 4173, which has passed both houses, link here. The best title appears to be “Restoring American Financial Stability Act of 2010″.
Time to get back to this blog! I may restructure all this soon, this summer.
For the record, here is the location on govtrack for the materials related to the “Restoring American Financial Stability Act of 2010″, on govtrack. S 3217, link
here.
The primary sponsor was Senator Chris Dodd, D-CN.
There are various versions in the House, but the summary page on govtrack is here.
“111st Congress:
“This is a bill in the U.S. Congress originating in the House of Representatives (”H.R.”). A bill must be passed by both the House and Senate and then be signed by the President before it becomes law.
“Bill numbers restart from 1 every two years. Each two-year cycle is called a session of Congress. This bill was created in the 111st Congress, in 2009-2010.
“The titles of bills are written by the bill’s sponsor and are a part of the legislation itself. GovTrack does not editorialize bill summaries.” (from Govtrack)
2009-201
HR. 1 is called H.R. 1: “The American Recovery and Reinvestment Act of 2009″, govtrack link here.
The Congressional Research Survey is here.
The full text of the bill is here.
Govtrack has published several comparisons of the various Emergency Economic Stabilization bills as PDF documents in the form of line-by-line file-to-file compares. The link is here.
The Senate bill to be voted on tonight is actually a revision of HR 1424, amending section 712 of the Employment Retirement Income Security Act of 1974, link here.
There are some provisions that may seem unrelated, such as amending the Alternative Minimum Tax, although exclusion of income from housing losses seems important, as would changes in preferred stock rules.
HR 1424 is actually the Genetic Non Discrimination Act, link here.
It’s disturbing to see so many unrelated bills linked this way.
Here is the House of Representatives press release for the “Bailout” announced yesterday. The Short Title of the new bill is “The Emergency Economic Stabilization Act of 2008″.
Here is the source complee text for the “Big Bailout” written in an extraordinary weekend session Sunday (Sept 28) at the Capitol, on the House of Representatives website: link.
The bill is an “indirect amendment” to HR 3997 and here is the text in PDF format: link.
Here is the house “executive summary”: link
The Section by Section analysis is here, including a discussion of the Troubled Assets Relief Program (TARP), link.
H.R. 3997 is the “Defenders of Freedom Tax Relief Act of 2007”, link here. I am not yet able to find the new addition on govtrack with the additional necessary links.
It is not clear why Congress connected this new Act to HR 3997.
There is an earlier bill, H.R. 6076, the “Home Retention and Economic Stabilization Act of 2008”, introduced by Doris Matsui (D-CA with 44 cosponsors).
The main govtrack reference for that is here.
Nothing in the bill yet seems to affect businesses outside the financial sector directly (such as law and Internet issues), although there could be regulations about Internet trading later. I will keep close tabs on this possibility.