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Technology Stocks : Discuss Year 2000 Issues -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (5721)	5/14/1999 11:56:00 PM
From: Ken Salaets	Respond to of 9818

The Dodd substitute is reasonable and rational -- a balanced compromise between the various economic interests. The House bill was a political document to some extent, which is why it didn't garner more Democrat votes. It you take the WH letter in outline and place it against the pending substitute to S. 96, they aren't too far apart, although the ways in which they don't match up -- e.g., the duty to mitigate provision -- are significant. The key next week is for Minority Leader Daschle not to make cloture a party loyalty vote. Apparently, he said during today's party caucus meeting that he won't. If he holds to that, it could well pass next week. Unfortunately, the bankers are screaming bloody murder because the Fed leg will preempt some favorable D&O provisions that they were able to get in the Colorado Y2K bill, as well as helpful provisions in the Virginia bill, etc., but we (the various business and industry sectors) agreed going into this thing that no one sector will seek nor be offered a special deal or carve-out. Nevertheless, things may well get very complicated next week. Ken