Today the House plans to take up two industry-backed bills dealing with derivatives, the hitherto opaque financial instruments so crucial to the 2008 meltdown, under a procedure usually reserved for noncontroversial matters.
A coalition of labor and consumer groups, Americans for Financial Reform (AFR), believes the bills, which have bipartisan support, should be controversial and is urging lawmakers to oppose them. "Both proposed bills are unnecessary and potentially harmful attempts to micromanage the work of regulators in implementing the Dodd-Frank Act," the groups argued. "They amplify the views of the regulated industries which already have overwhelmingly greater resources to intervene ...
Continue readingU.S. Energy, Mining Companies Must Disclose Government Payments
U.S. energy companies will soon have to reveal how much they pay foreign governments for rights to produce crude oil, natural gas and minerals around the world.
Tucked near the end of the more than 2,000-page final version of the financial reform bill is language requiring energy companies to submit the payment information annually to the U.S. Securities and Exchange Commission. The provision was added by Democratic Sen. Patrick Leahy of Vermont, a long-time supporter of the voluntary Extractive Industries Transparency Initiative, and by Sen. Ben Cardin of Maryland, also a Democrat. That global initiative is backed ...
The Blanche Lincoln Energy & Climate Complex
Sen. Blanche Lincoln has put herself front and center in opposing efforts by her party’s leadership to pass or implement... View Article
Continue reading- « Previous
- 1
- 2
59063
