Attention Senators! Test results are in. Time to announce who passed and failed "the Maxine Waters test of political moderation."
As I reported last week, the Jumpstart Our Business Startups (JOBS) Act was encountering resistance in the Senate even after the House-passed bill garnered the support of President Obama and the votes of the most diehard liberals such as Reps. Barney Frank (D-Mass.) and Maxine Waters (D-Calif.). The bill, which broadens exemptions for more firms from the most onerous provisions of Sarbanes-Oxley, Dodd-Frank, and other regulations preventing entrepreneurs from raising capital, was subject to a last-minute stampede by those organs of the left to whom regulation is a religion.
The New York Times, the AFL-CIO, and other various and sundry elements began railing against this "radical deregulation" that somehow eluded Obama, Frank, and Waters. AFL-CIO boss Richard Trumka assailed a bill supported by everyone from community banks to family-run businesses such as the Wegmans supermarket chain for its provisions increasing flexibility to raise capital as a measure to "deregulate Wall Street -- voiding investor protections."
Read more: http://spectator.org/archives/2012/03/28/how-senate-dems-and-brown-fail
As I reported last week, the Jumpstart Our Business Startups (JOBS) Act was encountering resistance in the Senate even after the House-passed bill garnered the support of President Obama and the votes of the most diehard liberals such as Reps. Barney Frank (D-Mass.) and Maxine Waters (D-Calif.). The bill, which broadens exemptions for more firms from the most onerous provisions of Sarbanes-Oxley, Dodd-Frank, and other regulations preventing entrepreneurs from raising capital, was subject to a last-minute stampede by those organs of the left to whom regulation is a religion.
The New York Times, the AFL-CIO, and other various and sundry elements began railing against this "radical deregulation" that somehow eluded Obama, Frank, and Waters. AFL-CIO boss Richard Trumka assailed a bill supported by everyone from community banks to family-run businesses such as the Wegmans supermarket chain for its provisions increasing flexibility to raise capital as a measure to "deregulate Wall Street -- voiding investor protections."
Read more: http://spectator.org/archives/2012/03/28/how-senate-dems-and-brown-fail
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