Republicans may starve financial reform of cash
Republicans in the new Congress could put the budget squeeze on two powerful regulatory agencies to slow President Barack Obama's crackdown on Wall Street.
Republicans say they want to review the expansion plans of regulators. "Once you turn the money loose, it's a little harder to stop that train," said Representative Randy Neugebauer of Texas, who will head the House Financial Services oversight subcommittee.
Before lawmakers agree to dole out funds for the Securities and Exchange Commission and the Commodity Futures Trading Commission, Republicans want more time to study whether the spending is warranted, Neugebauer told Reuters.
Publication
Reuters
Date
January 3, 2011
Cross References (links require a Cabinet subscription)
Dodd-Frank Act, Title VII