House Analysis – Questions remain as to whether Speaker Pelosi and her leadership team are able to whip up the necessary votes to pass a robust Health Care public option out of the House. This will certainly be topic of discussion during the week. It is expected to be another light legislative week though as much of the action is waiting to be played out in the Senate. Major House Floor Action – The main piece of legislation for the week is H.R. 3854, the Small Business Financing and Investment …
One of the larger mistakes in the Obama financial regulatory reform package was its attempt to give the Federal Reserve additional powers so that it could in theory protect the economy from risks such as the housing bubble that could endanger the entire financial system. As we have argued in the past, the entire concept of minimizing systemic risk is a thankless task that is probably impossible. A key question is how much power such a regulator would have. As we said in June, “Congress could grant it such wide …
