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Occupy the SEC has submitted a 325 page letter to the SEC, FDIC, the Federal Reserve and the OCC, to comment on the notice of proposed rulemaking for the Volcker Rule. In our comment letter, we answered 244 out of 395 questions asked by the Agencies.
The Agencies involved in the Volcker rulemaking process have an historic opportunity to redress many of the economic wrongs of the past, and create a future that privileges the interests of the many rather than the few. We ask that the Agencies vigorously implement the considerable responsibilities that have been discharged to them by Congress, remain faithful to the statute’s intent and consider the comments contained in this letter.
The Dodd-Frank Act, which passed in 2010, contained a Section (619) that is known as “The Volcker Rule.” The Volcker Rule puts limits on proprietary trading by banks and non-bank financial companies.
The SEC and the banking regulators are now required to actually implement Sections 619 through regulations.
Whenever a federal agency proposes a substantive new regulation, by law it is required to seek public comment first. Normally the only parties that respond to agency comment requests are the companies that are affected by the regulations, and their attorneys (i.e. lawyers at the investment banks, in this case). As you might guess, their comments are always critical of regulation.
The SEC/banking regulators have proposed their regulations for implementing Volcker, and they are requesting comments from the public.
Professor Jeff Edwards, who is teaching "Occupy Everywhere" at Roosevelt University in Chicago this semester, says a third of the political science majors there are enrolled in the course.
Roosevelt allows professors to teach a class one time before the official approval process as long as the department approves it, Edwards says. In his view, the Occupy movement, which started in September near New York City's Wall Street as a protest against economic inequality, is having enough of an impact on American culture to stand alone in its own course.
Let’s face it, this whole ‘direct democracy’, ‘participatory democracy’, ‘collective decision-making’ and ‘democratic consensus’ business can be a bit confusing when you start off, and at the core of the Occupy Movement’s Democratic Process is our General Assembly. Ask anyone how it works and you might be met with a shrug, or the answer, “Well, anyone can just get up and speak. That’s how it works”.
Last summer, two months before the first protesters showed up in Zuccotti Park, the Center of Media and Democracy obtained copies of ALEC's "model" bills and published them on the website, ALEC Exposed. David Osborn, one of the organizers of today's events and a participant in Occupy Portland, said he hoped today's events would draw attention to ALEC, which he described as a "particularly potent symbol of the failed system that we have in which profit and greed have become more important than everything else."
He considered today's events a success. He spoke from Portland, Ore., where he said 500 or 600 people were marching and "talking to everybody on the way," and noted anticipatory coverage of the event in the New York Times and on NPR. Today, a reporter for Rolling Stone magazine accompanied the marchers, said Osborn. "We've brought ALEC out of the shadows and into the light," he said.
Albany. New York State now has a millionaire’s tax.
While Mr. Cuomo did not provide specifics on his tax proposals, he and legislative leaders were negotiating a deal, the officials briefed on the plan said, that would allow the state’s so-called millionaires’ tax — a surcharge on incomes over $200,000 for individuals — to lapse as scheduled on Dec. 31.
Any move to raise tax rates for some and increase spending would be a risky step for Mr. Cuomo, who vowed during his election campaign last year to oppose tax increases.
During the crackdown on “Occupy” protesters recently, police appeared like soldiers – armed with automatic weapons, Tasers, pepper spray, riot gear et al – but military personnel have been prohibited from performing domestic law enforcement since 1878. A holdover from Reconstruction when U.S. Army troops occupied Confederate states after the Civil War, the Posse Comitatus Act of 1878 requires an act of Congress or the Constitution to allow the Army (which includes the Air Force) to “maintain law and order” with state law enforcement or local police.
Originally posted by DavidWillts
But they still have not really done anything
Originally posted by DavidWillts
reply to post by robhines
Anon has not done anything either, all they have done is bring down websites which are back up before the news about it breaks. Both groups suffer from megalomania and are about as effective as a sack of potatoes.
Originally posted by robhines
Originally posted by DavidWillts
But they still have not really done anything
I'm not responding to you after this because I don't have to, do some research instead.
Some of us will defend the truth, deal with it.
Originally posted by robhines
www.abovetopsecret.com...
www.abovetopsecret.com...
We can't force you people to wake up, but we can and will stop your ignorance from spreading if we have enough to do with it.edit on 2-5-2012 by robhines because: added
Originally posted by robhines
reply to post by DavidWillts
Just thought I'd try and help instead.
Originally posted by DavidWillts
Originally posted by robhines
reply to post by DavidWillts
Just thought I'd try and help instead.
Help what? Spread the same old Anon and OWS rhetoric?
Hahah, I linked to some facts about what Anon have done,
Maybe you think you can trot out the same stuff and I'll keep replying, this time I won't though.
Originally posted by Kali74
Are none of the things I listed in the OP good things?
Are none of the things I listed in the OP good things?