With all jobs bills dead and the supercommittee almost certain to deadlock, Democrats in both chambers have introduced stand-alone legislation to protect the hardest-hit victims of the recession -- the long-term unemployed.Read Full Article
Now that health care is done, the next big issue Congress will take up is reforming regulations of the financial market. Most of the attention paid to financial reform so far has been on two areas -- addressing the problem of too big to fail and consumer protections for financial products. Both important, but there's a lot more to the bill that people aren't talking about.
For example, the bill is expected to at least partially reverse the Commodity Futures Modernization Act of 2000 and restore some transparency to the over-the-counter derivatives market. Sounds arcane, but it's actually a really big deal and it goes to the heart of what turned a mortage crisis into a systemic financial crisis in 2008.
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