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#1
10-12-2006, 08:30 PM
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UIGEA regulations writing phase
If the Democrats take one or both houses of Congress next month, will that affect the banking regulations that are written for the UIGEA? Or are the two completely independent events?
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#2
10-12-2006, 08:32 PM
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Re: UIGEA regulations writing phase
completely independent
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#3
10-12-2006, 08:48 PM
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Re: UIGEA regulations writing phase
[ QUOTE ]
completely independent [/ QUOTE ] What happens once the bill is signed is that the torch is passed from the legislative branch of the governemnt to the executive branch of the government. Since the United States is not voting on the executive branch of the government in 2008, Democratic victories in the legislative branch would not appear to matter very much. That said, I am not very familiar with the processes by which regulations are drafted. I imagine that some input is sought from the legislative branch, as well as the private sector. Therefore, I think there is a little bit of a "freeroll" if Democrats "win" the midterms. But the main benefit from a Democratic victory is in the medium-to-longer term, and study and regulation altenatives become more likely to pass, and further prohibitions less likely.
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