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Will Congress keep your investments safe? Maybe. maybe not

The passage — or failure — of a single piece of legislation is going to tell us a lot about whether Congress represents the people of the United States or just its financial service industry donors. The legislation is the Restoring Main Street Investor Confidence and Protection Act, HR 3482 and Senate bill S.1725. The website govtrack.us gives the bill only a 23 percent chance of passage. So we have a good test, right now, of whether the folks we vote for actually represent us. Here’s the story: The Restoring Main Street Investor Confidence and Protection Act would define the value of a person’s brokerage account — the net equity — as the value of the account based on the last statement from the brokerage house. More on Chron.com here.

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