Public Utility Holding Company Act (PUHCA) of 1935 repealed (almost)

[Richard]

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

Excellent news.

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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)

[MODU]

Somehow, I think there is more to this than is being covered.  The following is from The National Law Journal:

"But several critical issues divide the two measures, among them the way PUHCA would be repealed. The Senate bill gives increased merger authority to the Federal Energy Regulatory Commission to compensate for regulatory oversight that would go the way of PUHCA, while the House bill does not."

I highly doubt that Congress would allow such thing to go without some supervision, just like with many other oversights they have over the business world.  And if for some reason they do, then a secondary law would have to be filed and passed to remedy the issue.

[KEmperor]

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)

Wow, Clinton didn't vote against it?  At least that's one thing she's done well.

[opebo]

Another step towards the world of 1890!

[A18]

Another step towards the world of 1890!

I hope we don't get that socialist.

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

[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.

[minionofmidas]

Richius voices his disapproval of markets.

[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.

[minionofmidas]

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?

[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.

[○∙◄☻¥tπ[╪AV┼cVê└]

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)

Wow, Clinton didn't vote against it?  At least that's one thing she's done well.

Ummm, Clinton voted for the war, which had a lot more opposiition than this. Ditto for the Rice nomination. She's really not that liberal.