JOBS Act Needed To Fix The Banking Industry

Sun, 03/25/2012 - 05:41 EDT - Seeking Alpha

By Simit Patel:First, it should be noted that while the bill does look like it is going to pass and US President Barack Obama has stated he will sign it, it technically has not yet passed. So there is still time for Congress to mess it up, or to attach some unrelated measures that mess up something else.I'm referring to the JOBS Act, which is largely a measure to loosen regulations on investing in securities. The most important part of the Act is that it will enable crowdfunding -- meaning it will enable unaccredited investors to invest small amounts of capital in small businesses, and for companies to have more than 500 shareholders and still be privately held. I believe these two measures, while they may seem small, will transform the global economy and be part of the solution for building a new, stable foundation for the global economy -- providedComplete Story »

Original article
Login or register to post comments

Acting Secretary Blank Delivers Keynote Address at League of Wisconsin Municipalities Conference, Discusses American Jobs Act
Blank also toured Palermo’s Pizza with Mayor Barrett and met with local business leaders as part of White House Business Council outreach effortActing U.S. Commerce Secretary Rebecca Blank traveled to Milwaukee today to deliver the keynote address at the 113th League of Wisconsin Municipalities Annual Conference to discuss the American Jobs Act–how it will spur economic growth, accelerate job creation and benefit Wisconsin. The League is a nonprofit and nonpartisan association of cities and villages that serves as an information clearinghouse, advocacy organization and legal resource for Wisconsin municipalities; it is comprised of 190 cities and 392 villages. At the Conference, Blank discussed details of President Obama’s American Jobs Act. Blank highlighted the different ways the plan would make an immediate impact on job creation: cutting taxes for small businesses, putting more money in the pockets of consumers through an expanded payroll tax cut, and preventing the layoffs of teachers, firefighters and policemen, while putting construction workers to work through much-needed renovations to school, roads, rail and airports renovations. Blank underlined the need for Congress to act quickly on the bipartisan measures in the Jobs Act. “Outside experts say the American Jobs Act would put nearly two million people to work, while putting more money in the pockets of workers and repairing infrastructure vital to enhancing America’s competitiveness,” Blank said. “It’s time for Democrats and Republicans in Congress to come together and swiftly pass the measures in the Jobs Act, which will put people back to work right away and put more money in the pockets of American families.” Earlier in the day, Blank joined Milwaukee Mayor Tom Barrett on a tour at Palermo’s Pizza, a rapidly growing regional company that added almost 100 jobs last year and is leading the “Earn to Learn” program with the Mayor’s Office, which gives high school-aged youth a chance to develop marketable skills through direct work experience and training seminars.
Obama urges US Senate to pass jobs bill
President Barack Obama on Saturday urged the US Senate to pass his jobs bill this week, boosted by a non-partisan group's report that the plan could cut the deficit and grow much-needed employment figures."It is time for those who oppose the jobs act to explain why they are fighting against something that we know will improve the American economy," Obama said in his weekly Internet and radio address.The bill, he said, "will provide our economy with the jolt that it really needs right now."
Who Created This Mess?
By James Kwak Not us, say the Republicans. “We didn’t create this mess,” a Republican said to Tim Geithner in a meeting recently, referring to the national debt and the need to raise the debt ceiling this summer. Yet, as the Times continues,
Crowdfunding cries for oversight
Darrin Hopkins — a retail investment adviser with Macquarie Private Wealth’s Calgary office, a long time veteran of the venture markets, a practitioner in the world of capital pool companies and member of two TSX advisory committees looking into such matters — has for more than a year been telling anybody who will listen about the state of play in those sectors.
Obama Fights Nigerian Anti-Gay Bill, Threatens To Cut Off Aid
U.S President Barack Obama is threatening to cut off foreign aid to Nigeria if a recent anti-gay bill is passed, but Nigerians are unwavering. A couple of weeks ago the Nigerian senate passed a bill which strictly prohibits same-sex romantic liaisons.
Obama: Jobs bill must pass to protect economy
President Barack Obama urged Congress to act on his jobs plan Thursday, saying it was needed to protect the United States from another economic downturn.
In a world with a broken Congress ...
Fred Hiatt's column today calls the House's health-care reform bill "a step closer to bankruptcy." But he's not really talking about the House's health-care reform bill, which he admits the Congressional Budget Office has assessed as not only deficit neutral but deficit improving. He's talking about, first, a fix to Medicare reimbursement rates that really isn't part of health-care reform, and, second, the capacity of Congress to make hard decisions about, well, anything.
Obama's Jobs Bill Contains Protectionist Provisions (Shocking, I Know)
Is anyone - and I mean anyone - surprised by this news: President Barack Obama's jobs plan has raised concerns in top trading partner Canada because of measures that would restrict foreign companies from participating in infrastructure projects....
Yuan Convertibility Will Have Major Implications For Gold, Global Economy
By Simit Patel:Although he's since backtracked, China's central bank chief Zhou Xiaochuan recently stated that the yuan is on track to becoming a fully convertible currency. A fully convertible yuan will have a major impact on the global economy, and may be part of what gets us out of the global sovereign debt crisis.

Main menu

Secondary menu

JOBS Act Needed To Fix The Banking Industry

Related

Latest

User login

Our Blog

Markets Map

Follow Us

Secondary menu