Join Occupy the SEC in Pushing Congress to Reject Dodd-Frank Deregulation
Join Occupy the SEC in Pushing Congress to Reject Dodd-Frank Deregulation
PETITION AGAINST LAST MINUTE DILUTION OF DODD-FRANK
As your constituent, I am requesting that you OPPOSE current attempts to roll-back crucial parts of the Dodd-Frank Act. Specifically, you should oppose Section 630 of the Senate Amendment to H.R. 83 (?Omnibus Bill?) and Title III of the House?s current version of the Terrorism Risk Insurance Act of 2014 (?TRIA?).
Section 630 would gut Dodd-Frank?s swaps pushout rule, and Title III would free so-called ?end-users? from margin requirements in derivatives trading. If passed, Section 630 would increase the chances that risky derivatives trading would once again require government bailouts. Similarly, Title III would proliferate credit risk from discrete end-users to the broader global economy.
These provisions are nothing more than an attempt by Wall Street lobbyists and their friends in Congress to eviscerate important derivatives reforms implemented by the Dodd-Frank Act. To make matters worse, bank-friendly members of Congress are trying to sneak in these dangerous provisions into important, last-minute bills that have nothing to do with Dodd-Frank. By allowing the passage of Section 630 of the Omnibus Bill and Title III of the TRIA, you and other members of Congress would only be paving the way for further gutting of Dodd-Frank, which would surely jeopardize our nation?s economy, line the pockets of wealthy financiers, and damage the fiscal health of every day Americans.
A complete version of this petition, including detailed arguments against these provisions can be found at:
https://drive.google.com/file/d/0By16zy2H5G83WndHR2NlVkRhclk/view?usp=sharing
As your constituent, I am requesting that you OPPOSE current attempts to roll-back crucial parts of the Dodd-Frank Act. Specifically, you should oppose Section 630 of the Senate Amendment to H.R. 83 (?Omnibus Bill?) and Title III of the House?s current version of the Terrorism Risk Insurance Act of 2014 (?TRIA?).
Section 630 would gut Dodd-Frank?s swaps pushout rule, and Title III would free so-called ?end-users? from margin requirements in derivatives trading. If passed, Section 630 would increase the chances that risky derivatives trading would once again require government bailouts. Similarly, Title III would proliferate credit risk from discrete end-users to the broader global economy.
These provisions are nothing more than an attempt by Wall Street lobbyists and their friends in Congress to eviscerate important derivatives reforms implemented by the Dodd-Frank Act. To make matters worse, bank-friendly members of Congress are trying to sneak in these dangerous provisions into important, last-minute bills that have nothing to do with Dodd-Frank. By allowing the passage of Section 630 of the Omnibus Bill and Title III of the TRIA, you and other members of Congress would only be paving the way for further gutting of Dodd-Frank, which would surely jeopardize our nation?s economy, line the pockets of wealthy financiers, and damage the fiscal health of every day Americans.
A complete version of this petition, including detailed arguments against these provisions can be found at:
https://drive.google.com/file/d/0By16zy2H5G83WndHR2NlVkRhclk/view?usp=sharing
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