To the extent that there’s been any news, Obama said that there will be an Internet freedom plank in the Democratic platform. Republicans actually included a similar plank in THEIR platform, so presumably that’s something that can actually get done legislatively.
|By: David Dayen Wednesday May 23, 2012 12:45 pm|
Morgan Stanley and Facebook are facing scrutiny and potential litigation for how they managed Facebooks Initial Public Offering, and whether they properly disclosed information to investors. But Congress just passed and Obama signed the so-called “JOBS” Act, which allows companies and banks to hide the very IPO information investigators now claim may have been missing or misleading in this case.
|By: David Dayen Friday April 13, 2012 1:53 pm|
So I hear that Richard Trumka is personally outraged by the JOBS Act, and the larger idea that “this administration thinks that it’s going to be good for the country to re-inflate a stock market bubble.” This didn’t deter Trumka’s AFL-CIO from endorsing the President who signed that bill for re-election, of course. “Labor weighs a number of factors in their election endorsements,” is the imagined reply I can see myself getting from a labor operative minutes after this post is published. And that’s fine.
|By: David Dayen Monday April 9, 2012 2:45 pm|
Yale professor Robert Shiller delivered a profoundly odd op-ed this weekend arguing that Occupy Wall Street and promoters of “financial innovation” have the same goal in mind, to “democratize” Wall Street. Matt Taibbi is not one of those idealists. And he went off on the JOBS Act, which includes those crowdfunding provisions, presenting an overwhelming counterpoint to Shiller’s optimism and predicting JOBS will be haven for fraud.
|By: David Dayen Thursday April 5, 2012 9:10 am|
President Obama will sign the JOBS Act today, a bill that sprung from his own Jobs and Competitiveness Council, a group with 19 corporate executives and 2 labor officials. Dealbook reports that Wall Street companies have begun to scour the bill for provisions that they can use to their advantage. Because that’s how it works, right? Congress writes the legislation, and only afterwards does Wall Street look to see how it benefits them! They never try to influence the process or write the legislation themselves, that would be untoward.
|By: David Dayen Monday April 2, 2012 3:30 pm|
Yves Smith points us to a nice takedown of the woeful JOBS Act, which should get signed into law this week. Chris Hayes had Bill Black and Alexis Goldstein of Occupy the SEC on to talk about it, with Rep. Carolyn Maloney making a (weak) defense. It really was no contest.
|By: David Dayen Wednesday March 28, 2012 1:10 pm|
The House may not have been able to pass a transportation bill yesterday to enable the smooth functioning of two million construction jobs, but they did find the time to kill a bunch of investor protections and deregulate the securities markets while passing the bill to deregulate potentially fraudulent investment practices.
|By: David Dayen Tuesday March 27, 2012 1:15 pm|
After both houses of Congress passed it, the White House is finally recognizing that the deregulatory bill they proposed and pushed is distasteful to liberals who have actually looked at it for longer than two seconds. Reportedly it’s part of the left over legacy of Bill Daley, but why did no one in the White House realize the problem?
|By: David Dayen Monday March 26, 2012 8:45 am|
We all know about the Paul Ryan budget, which will get a vote on the House floor this week, because both sides feel they have a story to tell about that budget: Republicans because they’re passing a budget at all, Democrats because that budget is unnecessarily cruel, and should hurt the GOP in November. So Senate Democratic leadership is not above scheduling message votes for November themselves. Over the next couple weeks, they’re going to bring to the floor a series of votes, in particular on taxes, to force Republicans to side with corporations and the wealthy.