Thank you Congressman Fitzpatrick for your bad votes again last week: 1. For doing NOTHING to prevent another global economic meltdown 2. For doing NOTHING to protect the little guy investor 3. For wasting time with DO-NOTHING bills that just go to the wiser Senate to die their rightful deaths. Area Votes In Congress Voterama in Congres WASHINGTON – Here is how Philadelphia-area members of Congress voted on major issues last week: HOUSE Fiduciary standards for financial advisers. The House voted 254-166 to sidetrack regulations that would impose fiduciary standards on virtually all entities that sell personalized financial advice to retail (non-institutional) investors. Now awaiting Senate action, the bill (HR 2374) would indefinitely delay Securities and Exchange Commision (SEC) and Department of Labor (DOL) rulemakings underway. A yes vote was to send the bill to the Senate where its future is bleak. Voting YES: Michael Fitzpatrick (R., PA) Derivatives, financial deregulation. The House on Wednesday voted, 292-122 to scale back derivatives rules in the 2010 Dodd-Frank financial-regulation law as they apply to large banks and other major financial institutions. This bill (HR 992) would exempt transactions such as commodity swaps, equity swaps, and certain credit-default swaps from rules imposed by Dodd-Frank on the 600 trillion-plus derivatives market in response to the U.S. and global financial meltdown in 2008. A yes vote was to send the bill to the Senate where it is likely to be shelved. Voting YES: Congressman Mike Fitzpatrick
Posted on: Mon, 04 Nov 2013 13:12:33 +0000
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