General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWant to really know how that watered down bank reform got in the CRomnibus? Here's the ugly truth.
Long piece, but essentially says Centrist Dems. voted for it, liberal Dems were ignored, and not very many Dems even knew what was in the bill.
Reid was in over his head, and it was a Dem. congressman, formerly a Goldman Sachs guy, who wrote the key giveaways.
"First of all, its worth mentioning that the CRomnibus was a horrible bill even without weakening Dodd-Frank. It was loaded with favors to wealthy and well-connected special interests, and its very existence, as a must-pass, short-term budget bill larded up with unrelated policy riders that will last forever,
sets a dangerous precedent for the future."
http://www.salon.com/2014/12/16/inside_wall_streets_new_heist_how_big_banks_exploited_a_broken_democratic_caucus/
Just for Fun
(149 posts)Last I heard, it was Kevin Yoder (R-KS)
dixiegrrrrl
(60,010 posts)A bipartisan coalition, including Jim Himes, D-Conn., a former vice president at Goldman Sachs, introduced a host of bills to weaken derivatives rules as far back as 2011.
Jim Lane
(11,175 posts)As for the role of a Democratic member of Congress, the article identifies Jim Himes, D-Conn., who, it states, is a former vice president at Goldman Sachs. He was one of those who's been pushing stand-alone bills that would weaken the regulation of derivatives. The stand-alone bills got nowhere, which is why this provision was included in the extortion CRomnibus.