All Articles Tagged "new laws"
(Fox News)–President Obama had a very full inbox when he returned to Washington Tuesday after his Hawaiian vacation. He signed 35 laws including the FDA Food Safety Modernization Act. The Food Safety law is considered the largest reform of national food safety in more than 80 years. It received bipartisan support as well as an endorsement from the Chamber of Commerce. The White House says the safety bill directs the FDA “to build a new system of food safety oversight – one focused on applying, more comprehensively than ever, the best available science and good common sense to prevent the problems that can make people sick.” But the new Republican majority in the House of Representatives may hold up funding of the $1.5 billion over the next five years.
(Forbes) — If you want to know who got the upper hand when it comes to the financial reform bill, follow the money. Bank stocks are currently trading higher and financials are outperforming all other sectors. As package Bove, a high-profile analyst that covers Wall Street, put it, “I think I would be buying bank stocks this morning.”