Power of Story Send a Tweet        

Share on Google Plus 1 Share on Twitter 2 Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 1 (4 Shares)  

Printer Friendly Page Save As Favorite View Favorites (# of views)   6 comments
OpEdNews Op Eds

Warren Calls Out Fellow Democrats for Helping GOP Ram Through "Wish Lists of Big Bank Lobbyists"

By       Message Common Dreams       (Page 1 of 2 pages)     Permalink

Related Topic(s): ; ; ; ; , Add Tags  Add to My Group(s)

Must Read 2   Valuable 2   Well Said 1  
View Ratings | Rate It

opednews.com Headlined to H1 3/4/18

Author 90876
- Advertisement -

See original here

"It's time for the rest of us to fight back and demand that Washington work for us, not the big bank lobbyists."

By Jake Johnson, staff writer


'Do not collaborate with Donald Trump and Trump Republicans to deregulate big banks,' reads a CREDO petition calling on Democrats to reject the deregulation bill.
(Image by (Photo: Edward Kimmel/Flickr/cc))
  Permission   Details   DMCA
- Advertisement -

Cooperation between Republicans and Democrats has become something of a rarity in today's polarized political environment -- except when it comes to a select handful of objectives, like enriching Wall Street banks.

In a Twitter thread on Friday, Sen. Elizabeth Warren (D-Mass.) called attention to a massive bank deregulation bill (S.2155) that could reach the Senate floor for a final vote next week, and highlighted the fact that a dozen Democrats are providing crucial support for the measure.

- Advertisement -

If passed, the legislation -- derisively labeled "The Bank Lobbyist Act" by Warren and other critics -- would make it more difficult to combat racial discrimination by big banks, provide regulatory relief for more than two dozen of the nation's large financial institutions, and eliminate many consumer protections put into place after the 2008 financial crisis.

The Senate -- with the support of some Democrats -- is set to start debate on a bill to roll back regulations on the same big banks we bailed out a few years ago. If we lose the final vote next week, we'll be paving the way for the next big crash. https://t.co/i7HO3AvNJ9 -- Elizabeth Warren (@SenWarren) March 2, 2018

We've been down this road before. Whenever things are going ok in the financial system, the lobbyists flood the halls of Congress & convince politicians to roll back the rules -- because what could possibly go wrong? https://t.co/7rUKIajJ8Q -- Elizabeth Warren (@SenWarren) March 2, 2018

In addition to Sen. Angus King (I-Maine), the 12 Democratic senators currently co-sponsoring the deregulation measure are: Doug Jones (Ala.), Joe Donnelly (Ind.), Heidi Heitkamp (N.D.), Jon Tester (Mont.), Mark Warner (Va.), Claire McCaskill (Mo.), Joe Manchin (W.Va.), Tim Kaine (Va.), Gary Peters (Mich.), Michael Bennet (Colo.), Chris Coons (Del.), and Tom Carper of Delaware.

In a video posted to Twitter on Friday, Warren explained that this bipartisan effort to fullfill "the wish lists of big bank lobbyists" goes a long way toward illustrating how Congress works for the wealthiest at the expense of the majority of the public.

Watch:

- Advertisement -

The Senate should be working to #EndGunViolence. Instead, Mitch McConnell is teeing up legislation on what he thinks is a much more pressing issue: fulfilling the wish lists of big bank lobbyists. pic.twitter.com/Lwu0SOnFSc -- Elizabeth Warren (@SenWarren) March 2, 2018

Dubbed the "Bailout Caucus" by the advocacy group Rootstrikers, the Democrats backing the deregulation bill -- introduced by Sen. Mike Crapo (R-Idaho) last November -- have deep ties to the financial industry.

As Talmon Joseph Smith observed in an article for The New Republic on Thursday, "Nine of the 12 Democrats supporting the deregulatory measure count the financial industry as either their biggest or second-biggest donor."

Next Page  1  |  2

 

- Advertisement -

Must Read 2   Valuable 2   Well Said 1  
View Ratings | Rate It

opednews.com

commondreams.org is a progressive publisher

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon Share Author on Social Media   Go To Commenting

The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Drone Papers: Leaked Military Documents Expose US "Assassination Complex"

Food Lobby Colossus Sues Vermont over GMO 'Right to Know'

Here Are the 19 Senate Democrats Still Not Committed to Defending Net Neutrality

Bernie Sanders May Run for President in 2016

Google Acts Like Privatized NSA: WikiLeaks' Julian Assange

Warren Calls Out Fellow Democrats for Helping GOP Ram Through "Wish Lists of Big Bank Lobbyists"