Elizabeth Warren Busts Republicans For Fraudulent CRomnibus ‘Fact Sheet’

Posted by | December 12, 2014 16:00 | Filed under: Contributors Opinion Politics Tommy Christopher Top Stories

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After wrangling late into the night Thursday, the White House was finally able to whip enough Democratic votes to pass the controversial Continuing Resolution/Omnibus spending bill (or “CRomnibus”), despite the inclusion of a provision that guts a key part of the Dodd/Frank financial reform law. The Senate is set to take up the bill today, and they have until midnight on Saturday to avoid a government shutdown.

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 

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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’

  1. tracey marie December 12th, 2014 at 16:04

    Elizabeth Warren, you rock. Keep calling everyone out when they lie, keep building a caucus of true Americans willing to fight for the people not the corporations

  2. tracey marie December 12th, 2014 at 17:04

    Elizabeth Warren, you rock. Keep calling everyone out when they lie, keep building a caucus of true Americans willing to fight for the people not the corporations

  3. KABoink_after_wingnut_hacker December 12th, 2014 at 16:29

    I’m so tired of the republican hostage taking and hope this POS legislation never see’s the light of day.
    Shame on any Democrat who voted to further weaken ‘Dodd-Frank’ as part of this legislative blackmail.

  4. KABoink_after_wingnut_hacker December 12th, 2014 at 17:29

    I’m so tired of the republican hostage taking and hope this POS legislation never see’s the light of day.
    Shame on any Democrat who voted to further weaken ‘Dodd-Frank’ as part of this legislative blackmail.

  5. tiredoftea December 12th, 2014 at 16:33

    Just think what this will be like come the new Congress, now with more fringe righties!!

    • rational_thinking_one December 12th, 2014 at 16:44

      Yes, the low voter turnout for the last election was a killer. The Dems that tried to distance themselves from the President hurt the worse. They should have instead been championing what he has been able to accomplish in spite of the Tea nuts!

      • tiredoftea December 12th, 2014 at 16:55

        So true. But, it’s not likely that the Dems learned anything other than “ignore the South” until forever. Running as Repub lite has never made sense to me as a strategy. Running as a rabid populist that calls out how little the Repubs have done for their citizens make so much more sense.

        • Suzanne McFly December 12th, 2014 at 17:16

          For so long people have said subliminally we are a center right nation and I think some have fallen for the false information.

  6. tiredoftea December 12th, 2014 at 17:33

    Just think what this will be like come the new Congress, now with more fringe righties!!

    • rational_thinking_one December 12th, 2014 at 17:44

      Yes, the low voter turnout for the last election was a killer. The Dems that tried to distance themselves from the President hurt the worse. They should have instead been championing what he has been able to accomplish in spite of the Tea nuts!

      • tiredoftea December 12th, 2014 at 17:55

        So true. But, it’s not likely that the Dems learned anything other than “ignore the South” until forever. Running as Repub lite has never made sense to me as a strategy. Running as a rabid populist that calls out how little the Repubs have done for their citizens make so much more sense.

        • Suzanne McFly December 12th, 2014 at 18:16

          For so long people have said subliminally we are a center right nation and I think some have fallen for the false information.

  7. Red Eye Robot December 12th, 2014 at 16:37

    this bill is so bad for Obama, If the senate dems shut down the govt it confirms Obama’s lame duck status

    • Chinese Democracy December 12th, 2014 at 16:43

      yeah its so bad for Obama… There was zero about immigration or Obamacare hannity and Obama are furious right?

    • The Wise Wizard December 12th, 2014 at 16:43

      Hmm..Republican Congress passes Republican bill = bad for Obama?

      You’re not even good at being stupid.

      • Hirightnow December 12th, 2014 at 18:54

        I think he does a great job at it…

        • Anomaly 100 December 12th, 2014 at 19:14

          I agree. And he serves a purpose here. He makes the rest of us look like geniuses.

          • Hirightnow December 12th, 2014 at 19:37

            I firmly believe that you mods keep certain posters here for just that reason.
            I like it.

          • raincheck December 12th, 2014 at 20:27

            lol

    • arc99 December 12th, 2014 at 20:27

      the 2012 election confirmed the President’s lame duck status.

      Wise Wizard’s reply to you sums things up quite nicely, and accurately.

    • OldLefty December 13th, 2014 at 07:42

      The Senate “Dems” won’t shut down the government.
      They should not pass the bill either. They should send it back.

      You should realize that this hold a gun to the head of the Democrats and say, “Do what we want or the nation gets it..” sounds like nothing more than obedient repetition of talking points sans critical thinking.

      More evidence of the damage caused by Gingrich’s 1996 GOPAC Memo, “Language: A Key Mechanism Of Control”.

      And it is EXACTLY that, a mechanism of controlling people.

  8. Red Eye Robot December 12th, 2014 at 17:37

    this bill is so bad for Obama, If the senate dems shut down the govt it confirms Obama’s lame duck status

    • Chinese Democracy December 12th, 2014 at 17:43

      yeah its so bad for Obama… There was zero about immigration or Obamacare hannity and Obama are furious right?

    • The Wise Wizard December 12th, 2014 at 17:43

      Hmm..Republican Congress passes Republican bill = bad for Obama?

      You’re not even good at being stupid.

      • Hirightnow December 12th, 2014 at 19:54

        I think he does a great job at it…

        • Anomaly 100 December 12th, 2014 at 20:14

          I agree. And he serves a purpose here. He makes the rest of us look like geniuses.

          • Hirightnow December 12th, 2014 at 20:37

            I firmly believe that you mods keep certain posters here for just that reason.
            I like it.

          • raincheck December 12th, 2014 at 21:27

            lol

    • arc99 December 12th, 2014 at 21:27

      the 2012 election confirmed the President’s lame duck status.

      Wise Wizard’s reply to you sums things up quite nicely, and accurately.

    • OldLefty December 13th, 2014 at 08:42

      The Senate “Dems” won’t shut down the government.
      They should not pass the bill either. They should send it back.

      You should realize that this hold a gun to the head of the Democrats and say, “Do what we want or the nation gets it..” sounds like nothing more than obedient repetition of talking points sans critical thinking.

      More evidence of the damage caused by Gingrich’s 1996 GOPAC Memo, “Language: A Key Mechanism Of Control”.

      And it is EXACTLY that, a mechanism of controlling people.

  9. Pilotshark December 12th, 2014 at 16:54

    Thanks Senator Warren!!!
    It is good feeling to know at lease someone is really looking out for the middle class! I stand behind you and support you all the way!
    and YES,, We The People are the ones who build this country, with our sweat, blood and trust that our government would do the correct thing and protect us from the greedy wanting to be so needy!

  10. Pilotshark December 12th, 2014 at 17:54

    Thanks Senator Warren!!!
    It is good feeling to know at lease someone is really looking out for the middle class! I stand behind you and support you all the way!
    and YES,, We The People are the ones who build this country, with our sweat, blood and trust that our government would do the correct thing and protect us from the greedy wanting to be so needy!

  11. Hirightnow December 12th, 2014 at 19:06

    Warren/Clinton ’16! (Clinton/Warren…almost as good, and more likely to succeed….but I can dream.)

  12. Hirightnow December 12th, 2014 at 20:06

    Warren/Clinton ’16! (Clinton/Warren…almost as good, and more likely to succeed….but I can dream.)

  13. raincheck December 12th, 2014 at 20:35

    I hope the ‘bill’ fails in the Senate… I have to say I’m very disappointed in Obama on THIS one. I can’t believe Democrats rolled over on this.. I don’t want the Government to shut down, because it could hurt a lot of people… I just think they could have gotten a better deal. God Bless Elizabeth Warren….

  14. raincheck December 12th, 2014 at 21:35

    I hope the ‘bill’ fails in the Senate… I have to say I’m very disappointed in Obama on THIS one. I can’t believe Democrats rolled over on this.. I don’t want the Government to shut down, because it could hurt a lot of people… I just think they could have gotten a better deal. God Bless Elizabeth Warren….

  15. searambler December 12th, 2014 at 23:07

    Of course the Senate will pass it, and Obama will sign it. He so desperately wants to be able to say ‘we passed a bipartisan bill and didn’t shut down the government.’

    It’s truly disgusting when he shows that he is, in the end, just a politician…..

  16. searambler December 13th, 2014 at 00:07

    Of course the Senate will pass it, and Obama will sign it. He so desperately wants to be able to say ‘we passed a bipartisan bill and didn’t shut down the government.’

    It’s truly disgusting when he shows that he is, in the end, just a politician…..

  17. Boehner-Monkey December 13th, 2014 at 00:43

    Clinton/Warren would be an amazing thing to behold.

  18. Guest December 13th, 2014 at 01:43

    Clinton/Warren would be an amazing thing to behold.
    (I know-DUH!)

  19. anothertoothpick December 13th, 2014 at 08:00

    Hello, My name is Jamie Dimon.

    I’m from JPMorgan, and I am here to help you.

  20. anothertoothpick December 13th, 2014 at 09:00

    Hello, My name is Jamie Dimon.

    I’m from JPMorgan, and I am here to help you.

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