Financial Regulatory Reform Bill of 2009 [Debating]

[Purple State]

Is my understanding correct that §3(c) is referring to tangible equity requirements?

[Southern Senator North Carolina Yankee]

Is my understanding correct that §3(c) is referring to tangible equity requirements?

You know something
I just realised an error in the way it is written. The 25% requirement refers only to the reserve requirement. So if the reserve requirement is 10% as the language is currently, then only 2.5% of assets need to be in cash or liquid securities.

[Purple State]

Is my understanding correct that §3(c) is referring to tangible equity requirements?

You know something
I just realised an error in the way it is written. The 25% requirement refers only to the reserve requirement. So if the reserve requirement is 10% like it is currently, then only 2.5% of assets need to be in cash or liquid securities.

I'm glad I brought this up then. Everyone needs to go through this at their own pace to find things they don't understand. Won't be quick, considering the complexity of this, but everyone needs to do it at their own pace.

[Southern Senator North Carolina Yankee]

Is my understanding correct that §3(c) is referring to tangible equity requirements?

You know something
I just realised an error in the way it is written. The 25% requirement refers only to the reserve requirement. So if the reserve requirement is 10% like it is currently, then only 2.5% of assets need to be in cash or liquid securities.

I'm glad I brought this up then. Everyone needs to go through this at their own pace to find things they don't understand. Won't be quick, considering the complexity of this, but everyone needs to do it at their own pace.

Now you understand why I was prodding everyone to give this the same scrutiny as the Stimulus or Healthcare Bills?

[Fritz]

So, will you be amending the bill based on this discovery?

[Southern Senator North Carolina Yankee]

So, will you be amending the bill based on this discovery?

Yes but not tonight.


There is already a pending amendment and a few more coming down the pipe so there is no rush. I wil do it tomorrow.

[Southern Senator North Carolina Yankee]

I know offer the following amendment.

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[Purple State]

I know offer the following amendment.

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Should that be 100% or 10%?

[Southern Senator North Carolina Yankee]

I know offer the following amendment.

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Should that be 100% or 10%?

100% of the 10% mention in Clause B. 10% or 10% is 1%.

[Purple State]

I know offer the following amendment.

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Should that be 100% or 10%?

100% of the 10% mention in Clause B. 10% or 10% is 1%.

Okay, misread that. Phew. You scared me a little, haha.

[Southern Senator North Carolina Yankee]

I know offer the following amendment.

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Should that be 100% or 10%?

100% of the 10% mention in Clause B. 10% or 10% is 1%.

Okay, misread that. Phew. You scared me a little, haha.

I make it my job to scare people.

[Bacon King]

Guys... there's still an amendment at vote here...

Senators, there is a vote on the following amendment. Please vote aye, nay, or abstain.

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[Southern Senator North Carolina Yankee]

Nay. I would prefer this to focus on the real problems, not meddle in a completely different class of banks. We already restore Glass Steagal in 2008 so there is nothing that needs changing with regular banks, at this time.

[Bacon King]

You've already voted

Total is 1 aye (Fritz) and 1 nay (NC Yankee).

[Southern Senator North Carolina Yankee]

You've already voted

Total is 1 aye (Fritz) and 1 nay (NC Yankee).

I forgot.

[Hash]

AYE

Sorry I've not offered much in the way of this bill, economics fly way too high over my head. I prefer foreign policy.

As for the bill in general, unless someone offers a clear and concise argument against this, I will vote in favour.

[tmthforu94]

Abstain

[MaxQue]

Nay, then

[Bacon King]

ayes: 2
nays: 2
abstain: 1
yet to vote: 2

[Hans-im-Glück]

NAY

[Bacon King]

ayes: 2
nays: 3
abstain: 1
yet to vote: 1

note that this vote has an hour left.

[Southern Senator North Carolina Yankee]

With time having lapsed on the pending amendment and having failed to reach a majority in favor of passage, I now declare the pending amendment to have failed.