Financial Services Regulatory Reform Update - April 8, 2011


The biggest news of the past week was the near-shutdown of the federal government, which was avoided in the hours just before the most recent continuing resolution (CR) was set to expire. Negotiations continued throughout the day on Friday afternoon, and the stalemate that would have resulted in a complete stoppage of federal government operations was avoided shortly before the midnight deadline. According to published reports, the deal means that $37.8 billion dollars would be cut from President Obama’s proposed 2011 budget through the remainder of the year. Shortly before midnight, the House and Senate passed a short-term CR to keep the government open for the week while the deal is put into legislative language and voted on sometime next week. It is clear that this agreement did not contain enough cuts for some of the more conservative members of the GOP, even though House Speaker John Boehner (R-OH), called the deal “as good a deal as we could get,” as members of the Republican conference have already signaled their intention to vote against it.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Mintz Levin - Public Finance Matters | Attorney Advertising

Written by:


Mintz Levin - Public Finance Matters on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.