Obama Officials Resurrect George W. Bush Deregulation Plan (for WallStreet!)

[think]

Former SEC Chief Accountant Lynn E. Turner is absolutely correct. This is BULLSHIT!

Obama Officials Resurrect George W. Bush Deregulation Plan

By Zach Carter - 10/21/2015 10:24 AM EDT

WASHINGTON -- The Securities and Exchange Commission has quietly resurrected a deregulation project from the George W. Bush administration, one with the potential to shift the American economic landscape in favor of big companies.

The initiative was originally launched in 2008 by then-SEC Director of Corporate Finance John White, but had to be abandoned as the festering financial crisis embarrassed deregulation proponents. It is now being spearheaded by White's wife, SEC Chair Mary Jo White, who has been the target of heated criticism from Sen. Elizabeth Warren (D-Mass.) and liberal groups for backing Wall Street-friendly policies.

"This is bullshit," said former SEC Chief Accountant Lynn E. Turner, referring to the agency's latest moves. "This is just absolute bullshit. It reeks."

The deregulation agenda makes subtle changes to obscure rules with potentially dramatic ramifications. By tweaking a few definitions, the SEC could curtail how much information the public receives about the internal operations of corporate conglomerates and their tax-avoidance efforts, while simultaneously shielding big firms from shareholder lawsuits.

The recent push has infuriated investor advocates. Last week, members of the agency's Investor Advisory Committee grilled SEC Chief Accountant James Schnurr over potential changes to what constitutes a "material" corporate event that must be disclosed in public filings. Schnurr has authority over the Financial Accounting Standards Board, which proposed the changes in late September. A day after the plan was released, the SEC announced it would also be rethinking disclosures on corporate mergers, alerting financial watchdogs to the prospect of significantly curtailed information on major deals....

Read more:
http://www.huffingtonpost.com/entry/obama-bush-deregulation_5626b26de4b08589ef49896a

[Wellstone ruled]

1. Yup,and the master of the repeal of

Glass-Stegal Mr.Larry Summers did the kick off this morning on Bloomberg. Flat out said that Dodd-Frank was a major hindrance to Wall Street and especially his Buds at Goldman Sachs and JP Morgan. Yup,Larry,you cost our Nation 8 Trillion Dollars of Debt,way to go asshole.

[msongs]

2. greasing the orifices in readiness for the TPP and where it's gonna be stuck nt