This week’s Cotton Newsline is 4 cuts. All cuts are Gary Adams, vice president of economics and policy analysis for the National Cotton Council.
Suggested Introduction 1:
Last week after a lengthy session, the House and Senate conferees agreed to a far-reaching overhaul of statutes governing financial markets. Gary Adams, vice president of economics and policy analysis for the National Cotton Council, says the legislation is a response to the financial crisis that began in ’07 and led to double-digit unemployment and multibillion-dollar bailouts.
Suggested Introduction 2:
According to Adams, the legislation (HR 4173), approved by the House-Senate conference committee would require banks and other financial institutions to hold more capital to protect against future financial upheaval.
Suggested Introduction 3:
Adams says the agreement reached between the House and Senate was a conference report and will now go back to both the full House and full Senate for a vote.
Suggested Introduction 4:
Adams says the Council sees a lot of positive coming from this legislation.
