Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsElizabeth Warren Blasts Fellow Democrats for Supporting a Massive Bank Deregulation Bill
https://www.motherjones.com/politics/2018/03/elizabeth-warren-blasts-fellow-democrats-for-supporting-a-massive-bank-deregulation-bill/Elizabeth Warren Blasts Fellow Democrats for Supporting a Massive Bank Deregulation Bill
The Senate just voted to increase the chances your money will be used to bail out big banks again.
Hannah Levintova
Mar. 6, 2018 6:00 PM
snip//
If this threshold change becomes law, several dozen major banks and financial institutionsincluding BB&T, American Express, Credit Suisse, Regions Financial, Citizens Financial, and SunTrustwould no longer be subject to the most rigorous checks, and the total number of financial institutions under the highest level of oversight would drop from 40 to about 12. Additionally, the CBO found that the bill would grow the deficit by at least $671 million between 2019 and 2027, and would slightly increase the possibility of another financial crisis.
Despite this CBO analysis, the bill appears to be on course to sail through the Senate, in part because it has garnered support from a sizable number of Democrats. On Tuesday, Sen. Elizabeth Warren (D-Mass.)one of the original champions of Dodd-Frankcriticized Democrats who voted to advance the current bill. This bill wouldnt be on the path to becoming law without the support of these Democrats, she wrote on Twitter. The Senate just voted to increase the chances your money will be used to bail out big banks again.
Democrats who support the bill17 voted to advance the legislation on Tuesdayhave argued that the dangers of its deregulatory measures are being blown out of proportion.
At a Tuesday morning press conference on Capitol Hill, however, Warren did not shy away from describing the bill as a precursor to another financial collapse. People in this building may forget the devastating impact of the financial crisis 10 years agobut the American people have not forgotten, she said. The millions of people who lost their homes; the millions of people who lost their jobs; the millions of people who lost their savingsthey remember, and they do not want to turn loose the big banks again.
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
6 replies, 678 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (9)
ReplyReply to this post
6 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
Elizabeth Warren Blasts Fellow Democrats for Supporting a Massive Bank Deregulation Bill (Original Post)
babylonsister
Mar 2018
OP
democratisphere
(17,235 posts)1. redumbliCON bill that bribed Dems are jumping onboard for.
Who says money can't buy everyone.
babylonsister
(171,105 posts)2. Chris Hayes/Elizabeth Warren is on and explaining how bad it is. nt
democratisphere
(17,235 posts)3. Watching the exact same show right now.
How can Dems Reps forsake their constituents for bank lobbyists that have bought them off. Total disgrace!
babylonsister
(171,105 posts)4. Very disappointing.
I don't want to believe they were all bought off.
democratisphere
(17,235 posts)5. Unfortunately they have........
appalachiablue
(41,188 posts)6. Warren, Righteous Sentinel fortunately for us. These turned Dems., pfft.