Leading the Past WeekThe past week was an incredibly busy one here in Washington, DC. Leading the past week, an overwhelming majority of the Senate voted to pass the capital formation deregulation bill, colloquially known as the JOBS Act, but not before adding an amendment to increase the regulations on crowdfunding from the House version. This change only served as a small speed bump, as it sent the bill back to the House which is expected to pass the bill again by a wide margin early this week, before sending the bill to the President. Given that the President had asked Congress to pass the bill, it will be interesting to see whether he holds a signing ceremony, which could potentially put him in the politically tricky situation of having to congratulate the so-called “do nothing” Congress he is trying to run against.Nearly drowned out by the news of the JOBS bill was the fact that a bipartisan group of senators (3 Ds and 3Rs) came together to introduce legislation to official delay the effective date of the Volcker Rule. Surprisingly adding to those voices was Barney Frank, one of the architects of the Dodd-Frank Act, who released a letter… Read full this story
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