Cochran: Financial overhaul will increase uncertainty
WASHINGTON — Sen. Thad Cochran (R-Miss.) predicted an increased level of uncertainty among businesses and consumers once the financial regulatory reform bill is signed into law and implemented.
Cochran voted against final Senate passage of the Financial Stability Act (HR.4173). With the June 30 House vote and yesterday’s 60-39 Senate vote, the measure now goes to President Obama to be signed into law.
“It is unfortunate that this reform effort has morphed into an oversized measure that expands the federal government’s role in everyday commerce. The bill goes well beyond the reforms needed to end the reckless financial actions taken on Wall Street,” Cochran said.
“I am concerned about the inevitable uncertainty this legislation will create throughout the economy as businesses try to determine how they might be affected by new federal agencies and regulations. There are uncertainties about the availability of credit for consumers and small businesses as new rules are issued. This uncertainty, I believe, will contribute to a lack of job creation and private sector investment—just what we need to grow the U.S. economy.”
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Two BancorpSouth mergers delayed by federal inquiries
- Severstal selling plants, including Severstal Columbus
- Wasted away — Margaritaville in Biloxi to close by Sept. 19
- Police find Attorney General Hood's stolen handgun
- Moon River Foods creating 100 jobs in Mississippi Delta
- WILLOUGHBY: Broadband Voice founder Gary Watts isn’t afraid to take chances
- Pickwick Pines settles lawsuit; pays $260K
- Communities awarded national Main Street accreditation
- MSU sets new annual fundraising record of $106M-plus