Forum Post: H.R. 1489: Return to Prudent Banking Act of 2011
Posted 13 years ago on Oct. 9, 2011, 11:54 a.m. EST by mmanavdj
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If we are upset and want to start pursuing change, we need to get behind legislation that does just that. This piece of legislation has be referred to committee. Where it will be debated and voted upon to determine if it should go for a vote before Congress. If you want to read it :http://thomas.loc.gov/cgi-bin/query/z?c112:H.R.1489:
Essentially the bill wants to reinforce the divisions between Commercial and Investment Banks and reenact rules that were abolished through deregulation.
It seems on the surface like a step in the right direction, except the "exceptions"section. While I would not settle for this as a solution to the real problem, The federal reserve, I would back it as a step in the right direction. The bankers hand need only be an instrument of commerce not commerce itself. Tie their hands tightly to withdraw their meddling.
Well that's what discussion before the vote is for on the house floor. It can be amended before it is enacted or passed. People can email the people on these committees to have them push forward and email their reps to amend it as it presented on the house floor for the vote.
There are three committees debating the bill:
House Financial Services, House Financial Services, Subcommittee on Financial Institutions and Consumer Credit House Financial Services, Subcommittee on Capital Markets and Government Sponsored Enterprises