Barney Frank says financial overhaul is ‘holding up very well’

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Source: The Washington Post

Far-reaching legislation intended to remake the nation’s financial regulatory system is “holding up very well” despite efforts to undermine new rules and underfund the agencies implementing them, one of the bill’s authors said Monday.

In a speech at the National Press Club to mark the one-year anniversary of the financial overhaul, Rep. Barney Frank (D-Mass.), ranking member of the House Financial Services Committee, criticized Republicans for trying to weaken the legislation that he and former Sen. Christopher J. Dodd (D-Conn.) shepherded through Congress last year. But Frank said those efforts have largely fallen short.

“My Republican colleagues, unlike climate change and health care, don’t want to take this one head-on, because it is still too popular,” Frank said.

GOP lawmakers have argued that the Dodd-Frank bill— which includes the creation of a Consumer Financial Protection Bureau, oversight of the vast derivatives market and heightened regulation for large, interconnected financial firms, among other provisions — has caused uncertainty for businesses and impeded economic recovery.

Read more: http://www.washingtonpost.com/business/economy/barney-frank-says-financial-overhaul-is-holding-up-very-well/2011/07/11/gIQAE8Ds9H_story.html

[David Gill]

1. Does anybody know

What are the bill numbers for those attempts in the House to derail the Reform Act?

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2. Bachmann intro'd HR 87 when the 112th congress began

http://thomas.loc.gov/cgi-bin/query/z?c112:H.R.87:

Then came H.R. 836 by Jeb Hensarling. And HR 861 by Gary G. Miller.

Freshman Tea Party-backed Sean Duffy introduced HR 1315 "to strengthen the review authority of the Financial Stability Oversight Council of regulations issued by the Bureau of Consumer Financial Protection."

Sen. Richard Shelby in April intro'd the "Dodd-Frank Repeal Act of 2011" (S. 746).