Friday, October 8, 2010

Obama's First Veto

Obama vetoed H.R. 3808, the Interstate Recognition of Notarizations Act of 2010. From WonkBook:

The law, which would've allowed banks to speed the notarization process by using out-of-state, electronic firms, passed the House and Senate with virtually no notice, but became unexpectedly consequential as accusations of fraudulent contracts ripped through the mortgage industry. Some thought the bill might help with the current problems, unfreezing some of the contracts and demonstrating the government's intention to push through this. But no, we're stuck in this morass for at least awhile longer. Sorry, recovery.
- White House Statement.
- NYT Story.
- Wikipedia: List of Presidential Vetoes.
- Wikipedia: Vetoes in the U.S.

And while we're on the subject: the Line Item Veto.