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President Obama recently signed the “Dodd-Frank Wall Street Reform and Consumer Protection Act” that is being described as the most sweeping overhaul of financial markets and institutions since the Great Depression. The Commerce and Industry Association of New Jersey is pleased to announce that New Jersey Congressman Scott Garrett will present an overview of the new law’s major provisions and their impact during a special meeting of its Financial Decision Makers Roundtable on Monday, August 9, from 8:30 a.m. – 10:00 a.m. Congressman Garrett (R-5) is the ranking Republican member of the Subcommittee on Capital Markets, Insurance, and Government-Sponsored Enterprises for the House Financial Services Committee in the 111th Congress.
Supporters of the legislation hailed it as a necessary means to ensure the country never again faces the threat of another financial meltdown and avoid more taxpayer funded bail outs; those who opposed the legislation decried it as a vast federal overreach that fails to adequately address the issues that led to the current state of the economy. “While the bill’s proponents claim that this bill will add certainty and stability to our markets,” Congressman Garrett has said, “it actually introduces a tremendous amount of uncertainty into our financial sector. As we have already seen, uncertainty leads to inaction and inaction doesn’t create jobs – which should be our top priority as our country recovers from the economic crisis.” Decision makers from every business sector should attend to learn from a Congressman who helped shape the law how this legislation will affect them.
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