Wednesday, December 10, 2014

Senator Warren Blasts Spending Bill

Ken O’Brien

Sen. Elizabeth Warren is not happy about the plan to weaken regulation of big banks that Republicans managed to insert in the spending bill. She's so unhappy, in fact, that she's calling on Democrats to oppose the overall bill unless that provision is removed.

“Who does Congress work for?” Warren said in a speech on the Senate floor Wednesday afternoon. “Does it work for the millionaires, the billionaires, the giant companies with their armies of lobbyists and lawyers, or does it work for all the people?” [...]
“Now, the House of Representatives is about to show us the worst of government for the rich and powerful,” she continued. “The House is about to vote on a budget deal, a deal negotiated behind closed doors that slips in a provision that would let derivatives traders on Wall Street gamble with taxpayer money and get bailed out by the government when their risky bets threaten to blow up our financial system.” 

Congressional Democrats are right to want to pass a bill to keep the government open. But that doesn't mean Republicans should be able to get anything they ask for and set our economy up for further domination by Wall Street.

5 comments:

  1. Ken, I used to think she was an apparatchik, until she started taking on usurious and damaging interest rates on student loans, and now she's sort of my hero. My kid is hardly ever going to be able to pay his loans, and repubs don't care. Now, from my perspective, she's the only one who makes sense!!! You can take all the budget talk, andd social issues (abortion, religion, ad nauseum), all the defense spending, all ideology, and everything else, and wrap it in a booger and flick it for all I care. I care more about my poor kid getting a decent start in life than any of it!!! I didn't vote for her last time, but I probably will next time! Call me a convert!!!! BTW. I don't care if she's Indian, or Swahili, or Norwegian, or whatever, it's the words coming out of her mouth that really matter!!

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    1. Given that, here's another concern you should have with the current spending bill. See http://www.huffingtonpost.com/2014/12/10/pell-cuts-cromnibus_n_6299092.html

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  2. * G ~ (OLD) * O~ (IL) * D ~ (RUGS)

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  3. Hands up don't PolluteDecember 13, 2014 at 2:05 AM

    Remember That Time Elizabeth Warren Said A Shutdown Was “Anarchy”?
    Let’s just hope that hypocrisy-induced flip-flop whiplash is a pre-existing condition covered by Obamacare.

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    1. This effort to strip the derivatives component from the cromnibus is not at all comparable to the previous Government shutdown by Republicans. As Barney Frank noted, "If you vote this down, it would literally take about an hour to take it out." (http://www.huffingtonpost.com/2014/12/10/democrats-revolt-on-wall-_n_6304082.html)

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