Tough Bank Amendment Passes With Room Nearly Empty

icon gravatar.comwww.huffingtonpost.com/2009/11/20/tough-bank-amendment-pass_...
sent by PHred42 since 80 days 21 minutes, published about 79 days 19 hours 48 minutes
The amendment mandates that banks essentially could not lend out or invest more than 12 dollars for every dollar they keep in reserve -- It passed by a unanimous voice vote.
tags: bank regulation
2 commentscategory: Congress karma: 162

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  1. #1    snuck one past the lobbyists
    written by PHred42 since 80 days 20 minutesPHred42
  2. #2    Wow! This is something worth fighting for to keep it in the bill. "...we know that what happened was many of these companies -- the Bear Sterns, the Merrills, the Lehmans, were all leveraged 30-1 -- if we really are going to be real about tamping down that kind of behavior in the future, coming up with a reasonable leverage cap makes sense."
    Yes Ma'm!
    Notice that the Rs withdrew the rollcall? They got burned on that on Franken's ammendment and looks like they learned something. They don't want to own another bad vote.
    written by CwV since 79 days 23 hours 57 minutesCwV
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