| | | | | | |  |
H.R. 1349: | Federal Accounting Oversight Board Act of 2009 | 111th Congress 2009-2010 |
To establish the Federal Accounting Oversight Board to approve and oversee accounting principles and standards for the purposes of the Federal financial regulatory agencies, and for other purposes. OverviewSponsor: | | Text: | Summary
|
Full Text | Status: |  | Introduced | Mar 5, 2009 | | Referred to Committee | View Committee Assignments |  | Reported by Committee | ... | | House Vote | ... | | Senate Vote | ... | | Signed by President | ... |
This bill is in the first step in the legislative process. Introduced
bills and resolutions first go to committees that deliberate, investigate, and revise
them before they go to general debate. The majority of bills and resolutions never make it out of committee.
[Last Updated: Jan 5, 2010 10:03PM] | Last Action: | Mar 5, 2009:
Referred to the House Committee on Financial Services. | Related: | See the Related Legislation page for other bills related to this one and a list of subject terms
that have been applied to this bill.
Sometimes the text of one bill or resolution is incorporated into another, and in those cases the original bill or resolution, as it would appear here, would seem to be abandoned. |
|
Question & Answer 
Can you answer any of these questions posed by other users? Think of it as a civic good deed.
You can submit a short question too.
Apr 5, 2009 11:12 AM - The (FAOB) Federal Accountability & Oversight Board Act seems to be a giant conflict of interest by having the Chairman of the Board of Governors of the Federal Reserve Bank also chair the FAOB, along with Secretary Geithner as a board member. It was Secretary Geithner who was in charge as the President of the Federal Reserve Bank of New York, which refuses to be transparent. Isn't this like the foxes guarding the hen house? -
Read AnswersAnswered by a visitor on May 13, 2009 11:35 AM -
It gets better...so you've got Geithner and Bernake, who everyone knows, but also the Chairman of the Public Company Accounting Oversight Board (Mark Olsen) is a former Federal Reserve board governor. So you've got 3 of the 5 members who will side with the Fed, including the chairman of the new agency. Answered by a visitor on Aug 15, 2009 1:51 AM -
This is my view. It is not so much who is in charge. This bill will no doubt seek to stop FASB from implementing Mark to Market and causing another financial meltdown. In principle M2M is ok, but in reality it is destructive to the US banks, just like Basel 1 was destructive to Japanese banks. If we don't want 20 years of deflation we may want this bill passed. Then maybe Geithner could stop taking money from the taxpayers to protect the banks. |
Because the U.S. Congress posts most legislative information online one legislative day after events occur, GovTrack is usually one legislative day behind. For more information about where this data comes from, see
About GovTrack.us. H.R. 1349--111th Congress: Federal Accounting Oversight Board Act of 2009.
(2009).
In GovTrack.us (database of federal legislation).
Retrieved Feb 9, 2010, from
http://www.govtrack.us/congress/bill.xpd?bill=h111-1349
"H.R. 1349--111th Congress: Federal Accounting Oversight Board Act of 2009."
GovTrack.us (database of federal legislation).
2009.
Feb 9, 2010
<http://www.govtrack.us/congress/bill.xpd?bill=h111-1349>
{{cite web
|url=http://www.govtrack.us/congress/bill.xpd?bill=h111-1349
|title=H.R. 1349
|accessdate=Feb 9, 2010
|author=111th Congress (2009)
|date=Mar 5, 2009
|work=Legislation
|publisher=GovTrack.us
|quote=Federal Accounting Oversight Board Act of 2009
}} | | | |
| |
