Senate Passes Financial Reform Bill (Summaries To Follow?)
As you've probably already heard, on Friday (May 21, 2010), the Senate passed the "Restoring American Financial Stability Act of 2010" (Senate Bill S. 3217) by a 59-38 vote, but did so through a parliamentary twist where it deems the Senate bill to be a version of House Bill H.R. 4173 (the "Wall Street Reform and Consumer Protection Act of 2009"), which passed in the House last December.
So, now there are two versions of H.R. 4173, and it will go to joint conference to reconcile the House version and the Senate version.
A mind bending process - but one that I'm sure will make America great.
But also very simple when compared to the length of the two versions and the hundreds of amendments.
- Will the Senators and Representatives on the joint conference actually read all of this?
We know that their staff will read it all - and summarize it for them. And, summaries will be furnished by others (such as the MBA, CREFC and other industry organizations connected to the commercial real estate industry).
- Would you, or will you, read all of this?
When the MBA and\or the CREFC publish summaries of this, I'll post them for your reading.
- Have you seen a summary?
If you have seen one, please post the url link to it below.
A pretty good summary of the Bill from Bloomberg-Businessweek.
http://www.businessweek.com/news/2010-05-21/finance-overhaul-bill-would-reshape-wall-street-washington.html?utm_source=twitterfeed&utm_medium=twitter