The House Agriculture subcommittee recommends delaying the Dodd-Frank rules surrounding derivatives under Article VII

What a surprise, the House Agriculture Committee controlled by republicans voted to delay the enactment of Article VII by an additional 18-months.  According to the Agriculture Committee chairman, Frank Lucas, republican from Oklahoma the delay will allow more time to write and review the rules.  Yes I am sure the Agriculture committee really understands the systemic risk to the country and the world for the exotic derivative market place. 

Lucas says the legislation is in response to “concerns from businesses across the country about what they say is the rushed pace of rule making by the Commodity Futures Trading Commission (CFTC)”.

"This does not kill the bill,”stated Lucas. “We need to acknowledge that Dodd-Frank set impractically tight deadlines for the implementation of dozens of regulations that will touch every segment of the economy. We can't ignore the concerns of businesses that we're relying on to further our economic recovery.” 

Though chances are even if the full house votes to delay the promulgated rules and regulations of Article VII, the democrat controlled senate would not pass the bill.  

Anyone reading this knows that the rules in Article VII will be difficult to follow by July.  What is YOUR view from a business prospective or from a regulatory control prospective.  Let’s hear from you.