Similar Stories to Will Congress Keep Your Investments Safe? Maybe. Maybe Not on Bing News

The passage, or failure, of a single piece of legislation is going to tell us a lot about whether our Congress represents the people of the United States or just its financial service industry donors. The legislation is the Restoring Main Street Investor Confidence and Protection Act, HR 3482 and Senate bill S 1725. The Restoring Main Street Investor Confidence and Protection Act would define the value of a person's brokerage account - their "net equity" - as the value of the account based on the last statement from the brokerage house. Withdrawing the proceeds from selling some shares at the current price of $90 would eliminate your net equity. In the event of fraud, the appointed trustee can sue the victims to recover money that was distributed from their account. What it and its securities industry backers want us to believe is that we actually have $500,000 of insurance protection against bankruptcy and fraud. The argument for its definition, as seen in court filings, is that when there is fraud, brokerage statements are works of fiction. The industry's own insurance company has hollowed out the assurances that were created to buttress investor confidence.

BING NEWS:
  • How pro-Palestinian protests unfolded on college campuses across the US: A timeline
    College campuses in the U.S. have been at the center of controversial debate since Hamas launched a terrorist attack against Israel on Oct. 7 and Israel responded with a widespread bombing ...
    05/4/2024 - 7:16 am | View Link
  • Treasury Issues FY 2025 Green Book: Proposes Changes For Late PFIC QEF Election
    U.S. taxpayers often miss the deadline to make a QEF election. But Treasury has proposed a legislative fix to this problem in the Green Book for the 2025 fiscal year.
    05/3/2024 - 3:16 pm | View Link
  • 3 critical investing mistakes to avoid right now
    With inflation stubborn and interest rates high, it's critical to avoid these three investing mistakes right now.
    05/3/2024 - 8:55 am | View Link
  • Column: Farm Bill could take food from Florida poor, $$ from conservation
    Farming is big business in Florida — affecting our economy, health and quality of life. So, the Farm Bill — a massive piece of federal legislation that rolls out every ...
    05/3/2024 - 6:41 am | View Link
  • How I Use Investments for My Travel Fund
    Newsweek investing expert Miranda Marquit traveled 10 out of 12 months in 2023 in part because of her travel fund. Here’s how to use investments to grow my travel fund.
    05/2/2024 - 12:00 pm | View Link
  • More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News