Elizabeth Warren Busts Republicans For Fraudulent CRomnibus ‘Fact Sheet’
The essential dispute is that while there was already a rule that prevented banks from gambling with FDIC-insured deposits, Dodd-Frank added a rule that said banks had to set up a whole other company to do their gambling, reasoning that risky derivatives could still sink a company with FDIC-insured deposits even if those deposits were not used in the trades. Republicans have amended the CRomnibus to repeal that provision. In a fact sheet on his website, Speaker John Boehner explained that it was all about helping farmers:
The bill includes several provisions to protect jobs and rein in regulatory overreach, including a provision amending the Dodd-Frank law to protect farmers and other commodity producers from having to put down excessive collateral to get a loan, expand their businesses, and hedge production.
The strange thing is that no one seems to know who put this provision in there, and literally no one is defending it. In fact, I searched Congressional transcripts this week for any mention of farmers and Dodd/Frank, and aside from a clip of Rep. Hal Rogers (R-KY) reading that fact sheet aloud to the rules committee, not a single Republican invoked this defense for that provision. There was, however, one Democrat who brought up the “save the farmers” argument, and that was Sen. Elizabeth Warren (D-MA), on Thursday…READ MORE
Copyright 2014 Liberaland
By: Tommy Christopher
Tommy Christopher is The Daily Banter's White House Correspondent and Political Analyst. He's been a political reporter and liberal commentator since 2007, and has covered the White House since the beginning of the Obama administration, first for PoliticsDaily, and then for Mediaite. Christopher is a frequent guest on a variety of television, radio, and online programs, and was the villain in the documentaries The Audacity of Democracy and Hating Breitbart. He's also That Guy Who Live-Tweeted His Own Heart Attack, and the only person to have ever received public apologies from both Rush Limbaugh and Glenn Beck.
52 responses to Elizabeth Warren Busts Republicans For Fraudulent CRomnibus ‘Fact Sheet’
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amongoose December 13th, 2014 at 09:10
As much as I disagree with her on most things she is right this time. Repeal of the Glass Steagall act set up the 08 meltdown this is even worse.
amongoose December 13th, 2014 at 10:10
As much as I disagree with her on most things she is right this time. Repeal of the Glass Steagall act set up the 08 meltdown this is even worse.
William December 13th, 2014 at 10:51
Question:
Who in either house took the floor and spoke out in support of the bill written by Citibank?
Is there any doubt whatsoever who actually runs this country?
William December 13th, 2014 at 11:51
Question:
Who in either house took the floor and spoke out in support of the bill written by Citibank?
Is there any doubt whatsoever who actually runs this country?
OldLefty December 14th, 2014 at 08:28
Elizabeth Warren Busts Republicans For Fraudulent CRomnibus ‘Fact Sheet’
___________
She didn’t filibuster it, either.
OldLefty December 14th, 2014 at 09:28
Elizabeth Warren Busts Republicans For Fraudulent CRomnibus ‘Fact Sheet’
___________
She didn’t filibuster it, either.
MaryJane Mccarthy James December 14th, 2014 at 13:11
The biggest con of all. FINALLY THERE IS A COMPROMISE. Both sides are spineless cowards.
MaryJane Mccarthy James December 14th, 2014 at 14:11
The biggest con of all. FINALLY THERE IS A COMPROMISE. Both sides are spineless cowards.