Monday, October 6, 2008

Survivors of Federal Safety Officers, GSEs Banned From Lobbying, Derivative and Hedgefund Oversight and Consumer Credit Protections: October 3, 2008

Friday was the last day Congress was in session. The House has recessed 'at the call of the chair', so they are out unless they get called back to work by Pelosi, which is possible in light of the economic crisis we're in the midst of. The Senate has recessed until November 17th, when they will come back for a brief lameduck session to deal with some bills.

The House was briefly in session on Friday to pass the Financial Rescue bill, along with some other legislation, and they also introduced several interesting bills, which are pasted below:

This first bill is a great one that would provide enhanced benefits to survivors of Federal public safety officers killed in line of duty.

By Mr. HALL (D-NY):
H.R. 7263. A bill to amend chapters 81, 83, and 84 of title 5, United States Code, to provide for enhanced benefits for survivors of Federal public safety officers killed in the line of duty; to the Committee on Oversight and Government Reform. Source: GPO [H10828]

This next bill is another great one that would prohibit lobbying or contributions from GSEs (Government Sponsored Enterprises) such as Fannie Mae and Freddie Mac.

H.R. 7254. A bill to prohibit government-sponsored enterprises from making lobbying expenditures, political contributions, or other certain contributions; to the Committee on Financial Services. Source: GPO [H10828]

These final two bills deal with the current economic crisis, and what got us into so much trouble to start with, both on a large scale (derivative dealers and hedge fund managers) and on a smaller personal scale (providing individuals better protection and transparency when dealing with consumer credit):

H.R. 7266. A bill to amend the Federal securities laws to enhance oversight over certain derivatives dealers and hedge funds, reduce the potential for such entities to increase systemic risk in the financial markets, enhance investor protections, and for other purposes; to the Committee on Financial Services. Source: GPO [H10828]

H.R. 7258. A bill to create a new Consumer Credit Safety Commission, to provide individual consumers of credit with better information and stronger protections, and to provide sellers of consumer credit with more regulatory certainty; to the Committee on Financial Services. Source: GPO [H10828]

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