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Dean Heller On Wall Street Reform

Dean Heller Voted To Weaken Financial Derivatives Regulations. Dean Heller voted for a motion to recommit the Dodd-Frank Wall Street reform bill that would instruct conferees to insist on Senate language to expand the exemption for commercial businesses using financial derivatives to hedge their business risks from the margin requirements in the bill. The motion to recommit also would instruct conferees to insist on House language to give the GAO other expanded audit authority over the Federal Reserve, including the ability to monitor some of its most sensitive monetary policy deliberations. The original legislation authorized a one-time audit of the Fed’s emergency lending during the financial crisis. [Vote #412, 6/30/2010]

Heller Voted Against Regulating Wall Street After Financial Crisis. On June 30, 2010, Heller voted against the conference report of the Dodd-Frank Wall Street Reform and Consumer Protection Act. In an attempt to avoid a future financial crisis, the bill would establish a procedure for dissolving financial institutions that pose systematic risk to the economy, create a Consumer Financial Protection Agency, establish a national standard for mortgages, and authorize $4 billion of Troubled Asset Relief Program (TARP) funds for housing relief. It also creates a clearinghouse for the previously unregulated financial derivatives market, requires registration of all credit rating firms, and creates a registry of private capital investment advisers. [Vote #413, 6/30/2010]

Dean Heller Started His Career As A Stock Broker. According to CQ, “At the University of Southern California, Heller studied business administration, specializing in finance and securities analysis. He put himself through college by working on the Pacific Stock Exchange. After graduation, he worked as a stockbroker and trader in Los Angeles.” [CQ Member Profiles, 5/9/2011]

Heller Has Taken $131,000 From Securities and Investment Interests. According to the non-partisan Center For Responsive Politics, Senator Dean Heller has taken at least $131,100 in federal campaign contributions from securities and investment interests throughout his career. [Opensecrets.org accessed 6/24/2011]

Heller Has Taken Over $125,000 From Commercial Banks. According to the non-partisan Center For Responsive Politics, Senator Dean Heller has taken at least $125,500 in federal campaign contributions from commercial banks throughout his career. [Opensecrets.org accessed 6/24/2011]

Heller Has Taken Over $62,000 From Credit and Financial Interests. According to the non-partisan Center For Responsive Politics, Senator Dean Heller has taken at least $62,300 in federal campaign contributions from credit and financial interests throughout his career. [Opensecrets.org accessed 6/24/2011]

Heller Has Taken Over $99,000 From Other Financial Interests. According to the non-partisan Center For Responsive Politics, Senator Dean Heller has taken at least $99,282 in federal campaign contributions from miscellaneous financial interests throughout his career. [Opensecrets.org accessed 6/24/2011]