Showing posts with label Dodd-Frank. Show all posts
Showing posts with label Dodd-Frank. Show all posts

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.”