Public Utility Holding Company Act (PUHCA) of 1935 repealed (almost)

[Richard]

http://dailykos.com/story/2005/6/29/17388/9747

Excellent news.

You must be logged in to read this quote.

Seeing the neo-commies cry:

The Senate, with bipartisan support, voted to repeal one of the most hard fought and important components of FDR's New Deal Tuesday and there's narily a mention of it anywhere.

The component I'm referring to is PUHCA (Public Utility Holding Company Act of 1935). Both the Senate and House bills repeal this historic measure. And though it's not as big as repealing Social Security, it comes awefully close.

Get this straight people: This is the most important legislation to pass the Senate in years. It is a green-light for a return of the energy monopolies of the 20s and 30s. It is a green-light for the kind of market manipulation and price gouging that Enron engaged in in California -- except on a national scale.

Good thing, eh?  Now since the House and Senate versions differ, it is going to a committee for reconciliation.  Hopefully the end will result will be the PUHCA being dead.

[Richard]

And it was bipartison too!  The only Democrats that voted against this were:

Corzine (D-NJ)
Feingold (D-WI)
Lautenberg (D-NJ)
Nelson (D-FL)
Reed (D-RI)
Schumer (D-NY)
Wyden (D-OR)

[Richard]

Another step towards the world of 1890!

I hope we don't get that socialist.

Anyway, what's the name of the bill/act?

The energy bill.  It was tacked on somewhere in the bill, a one liner.

[Richard]

Richius voices his disapproval of markets.

Don't be absurd numbnuts.  I firmly believe anyone should be able to buy shares in any company they choose to do so.

[Richard]

Richius voices his disapproval of markets.

Don't be absurd numbnuts.  I firmly believe anyone should be able to buy shares in any company they choose to do so.

Even if nobody wants to sell them any?

Then what?  That is the market.  You certainly don't have a right to buy something if no one wants to sell you something.