Thursday, July 24, 2003

Well, how 'bout that! It turns out Republicans aren't all bad after all!

Crony finance capital seems to have taken it on the chin from moderate Republicans in the House of Representatives (I didn't know this kind of creature still existed).
A bill to limit the role of states in investigating brokers and investment bankers appears to be rapidly losing support, according to several industry and congressional sources.

Republican Rep. Peter T. King of New York has come out against the proposal, and other moderate Republicans are likely to join him, leaving supporters without enough votes to approve the measure in the House Financial Services Committee, sources said.

As a result, Rep. Richard H. Baker (R-La.) and the bill's other backers are considering asking the committee to adjourn today without taking up the proposal, the sources said.
Crony media capital has also taken a direct hit from the same moderate Republicans.
The House voted yesterday to block the Federal Communications Commission from imposing rules that would allow the nation's biggest broadcasting companies to buy more television stations, setting up a potential showdown with the White House.

A bipartisan coalition pushed through the measure by attaching it to an appropriations bill to fund the Commerce, State and Justice departments and several agencies, including the FCC. The spending bill was approved by a vote of 400 to 21, despite a veto threat from the Bush administration and objections from the Republican House leadership.
It's heartening to see Republican Representatives finally refuse to function as nothing more than back-benchers for Tom Delay and Karl Rove and exercise their constitutional duties. A 400-21 vote -- that's incredible!


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