GOP spending bill rider targets Dodd-Frank / Sanders wants transaction tax

[Panich52]

GOP TARGETS DODD-FRANK

Republicans try attaching Dodd-Frank rollback to spending bill.

The Hill:
“Sen. John Boozman (R-Ark.) will likely include (Sen. Richard) Shelby’s proposal … that is slated for a Wednesday mark-up … The bill would allow for more community and regional banks to be excluded from regulations that are part of Dodd-Frank, while aiming to provide regulatory relief for businesses.”

http://thehill.com/policy/finance/248727-shelby-aims-to-attach-financial-regs-overhul-to-spending-bill


Former WH economist Jared Bernstein backs financial transaction tax in NYT oped:

“Senator Bernie Sanders (proposes a) small excise tax, typically a few hundredths of a percent, on trades of stocks, bonds, derivatives and other securities. An itty-bitty, one-basis-point transaction tax … would raise $185 billion over 10 years … That would be enough to finance an ambitious expansion of prekindergarten programs for 3- and 4-year-olds and restore funding of college assistance for low-income students.”

http://mobile.nytimes.com/2015/07/22/opinion/the-case-for-a-tax-on-financial-transactions.html?referrer=


Former Rep. Barney Frank opposes restoration of Glass-Steagall.

The Hill:
“‘Even if we did Glass-Steagall, you’d still have institutions that are too big to fail,’ Frank said … during an economic forum hosted by center-left think tank Third Way.”

http://thehill.com/policy/finance/248674-barney-frank-warren-wrong-on-glass-steagall

[mikehiggins]

1. Center-left think tank Third Way

ROFL