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 美国参议院59对39票通过金融改革，1500页，美国人是会写，还特会说，嘻嘻 |
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ceo/cfo
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作者：ceo/cfo 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
WASHINGTON – The Senate voted 59-39 late Thursday to pass a sweeping rewrite of financial-sector regulations.
The 1,500-page bill includes an array of curbs on banking and finance, aimed at creating new consumer protection rules, providing more scrutiny of big bank operations, and insulating taxpayers from future bailouts of financial companies. Opponents argued throughout lengthy debate that the measures will over-regulate the financial industry.
Democrats secured support from a handful of Republicans to win final passage. The measure is a major part of the domestic agenda of the Obama administration.
Lawmakers must now reconcile differences between the Senate bill and a similar measure that passed the House of Representatives in December.
Senate Majority Leader Harry Reid (D., Nev.) won the support of Massachusetts Republican Sen. Scott Brown Thursday for the vote to end debate, a key step in moving the bill forward.
Mr. Brown voted against shutting off debate Wednesday. But he supported the effort Thursday after winning assurances that major Massachusetts-ba<x>sed mutual-fund companies—including Fidelity Investments and State Street Corp.—would be shielded from trading limits the bill would impose on big banks.
In the end, three Republicans joined 55 Democrats and the chamber's two independents in support of the motion to cut off debate. Besides Mr. Brown, the Republicans supporting the motion were Maine Sens. Susan Collins and Olympia Snowe. In opposition were two Democrats and 38 Republicans.
The Senate clears the way for a final vote on legislation that would constitute the biggest overhaul of U.S. financial regulations since the 1930s, voting 60-40 to end more than three weeks of debate. WSJ's John Bussey joins the News Hub to discuss.
.Democratic leaders were working to set a final vote on the bill late Thursday. Mr. Reid said he would like to vote Thursday, "in the best of all worlds." But it remained possible the vote would be delayed until Friday.
Only 51 votes are needed for the bill to pass in the final Senate vote. The 60-40 vote earlier Thursday made final passage in the Senate very likely.
The legislation, in broad terms, is designed to close the regulatory gaps and end the speculative trading practices that contributed to the 2008 financial-market crisis, which prompted federal regulators to engineer a series of taxpayer bailouts of financial institutions.
The legislation would restrict bank trading in complex financial instruments known as derivatives, which are often used by companies to hedge against changes in commodity prices or interest rates. Many lawmakers contend that speculation in derivatives, including by large banks, contributed to the 2008 crisis. The bill includes provisions that not only would create more oversight of the derivatives market but possibly force banks to spin off their derivatives-trading operations.
The bill would also create a new system and authority for regulators to liquidate large failed institutions. And it prohibits the government from propping up large institutions in the future with public money.
The bill would create a regulator—within the Federal Reserve—with the mandate to protect consumers from abusive financial practices across a range of products, from home mortgages to credit cards. The regulator would have independent rule-making authority. But the agency's rules could be reviewed—and blocked after the fact—by a council of regulators created by the legislation to protect the financial system more broadly against risky activities.
The bill would also restructure the way financial companies of all sizes are overseen. The Federal Reserve would have new powers to regulate the country's largest financial firms, regardless of whether they are banks.
The legislation consolidates the country's national bank and thrift regulators into one agency to prevent companies from shopping for lighter supervision. It would also clear the way, for the first time, for the government to audit certain emergency-lending programs at the Fed.
Republicans have generally opposed the bill as an excessive intrusion into the markets. The bill's expansion of government powers is "setting our country up on a course we cannot correct and creating unintended consequences that may ultimately bring more damage down on the American people," said Sen. John Ensign (R., Nev.).
.GOP critics also said the legislation didn't deal with the circumstances that led to the severe decline in housing prices, which undermined stability in the banking system and prompted the government to seize control of Fannie Mae and Freddie Mac, the government-sponsored housing-finance concerns. Both were taken over by the government two years ago, after the fall in housing prices put them at risk of insolvency.
"It completely ignores the 900-pound gorilla in the room," said Sen. Christopher "Kit" Bond (R., Mo.). He complained that taxpayers have been "left footing the bill" for Fannie Mae and Freddie Mac, with no immediate prospect of resolving the problem.
Democrats agree action is needed to address the housing-finance institutions. "Do we need to reform Fannie Mae and Freddie Mac? Yes, we do," said Senate Democratic Whip Richard Durbin of Illinois. "If we don't, we will pay dearly for it."
But Mr. Durbin and others have argued the problem is too complex to deal with now, and shouldn't be used as a reason to delay action on the broader regulatory overhaul. "This is a valuable thing to do to move forward," he said.
The Senate legislation includes an amendment that would require the Obama administration to develop a plan to end government control of Fannie and Freddie by January 2011.
With the Senate now moving toward a final vote, only a handful of additional actions are likely.
Among them is a vote on a proposal that would exempt auto dealers from oversight by the proposed new consumer protection agency. Another proposal would bar banks from using their own capital to engage in speculative trades, and prohibit firms from betting against securities packaged and sold to their own clients.
作者：ceo/cfo 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 美国参议院59对39票通过金融改革，1500页，美国人是会写，还特会说，嘻嘻 -- ceo/cfo - (6291 Byte) 2010-5-21 周五, 10:26 (1595 reads)
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