by Pa Rock
Citizen Journalist
While the country is focused on the dangerous antics of Donald Trump - as well as slow-to-no movement in Congress regarding DACA (the Dreamers) and possible gun legislation, the Senate is quietly preparing to foist another outrage on the country that could have serious and long-lasting consequences. Senator Mike Crapo, a Republican from Idaho, has a proposed bill before the Senate that would roll back the protections of the Dodd-Frank bill that came about as a result of the near financial disaster that capped the years of George W. Bush in the White House. Crapo's bill is misleadingly called the "Economic Growth, Regulatory Relief, and Consumer Protection Bill," and its primary focus is on the "regulatory relief" portion of the title. The big boys in banking don't like having to follow rules, particularly those that limit profits and avenues for profits.
Some opponents of the measure have labeled it "The Bank Lobbyist's Act." Many fear that Crapo's legislation will insure a future financial meltdown.
Donald Trump has pledged to dismantle Dodd-Frank.
The Crapo legislation will need sixty votes to pass muster in the Senate wheen it faces its final vote next week.. All fifty-one Republican senators support the measure in lockstep, and so does Angus King, the Independent senator from Maine who caucuses with Democrats. King, as well as twelve "regular" Democratic senators, have signed on as co-sponsors of the bill - thus insuring its passage. A preliminary vote this past week garnered 67 yea votes.
I have read about the twelve Democratic "co-sponsors" who are making a show of turning their backs on their party and the principles of economic fairness - but astoundingly, finding the actual list of those twelve - the dirty dozen - has been a challenge. Much has been written about them without naming names, or in some cases only a few names. Many are from swing states and up for re-election - and thus trying to buy their way into the good graces of moderate voters. But highlighting their names in the national press runs the serious risk of alienating the left flank back home. So the national press roars its displeasure, yet declines to say specifically who the villains are.
Well, for the record, here they are:
Doug Jones (Alabama), Joe Donnelly (Indiana) Heidi Heitkamp (North Dakota), Jon Tester (Montana), Mark Warner (Virginia), Joe Manchin (West Virginia), Tim Kaine (Virginia), Gary Peters (Michigan), Michael Bennett (Colorado) Chris Coons (Delaware), Tom Carper (Delaware), and Claire McCaskill (Missouri).
The next time the American financial engines teeter on the verge of total collapse, remember those folks. They gave up the fight for sound financial practices in order to serve a few more years at the public trough - and pocket some donations from big banks in the process.
The vote on the gift to the banking industry is scheduled for next week.
McCaskill obviously has no shame, but as a Missouri voter and a Democrat, I am ashamed for her.
Citizen Journalist
While the country is focused on the dangerous antics of Donald Trump - as well as slow-to-no movement in Congress regarding DACA (the Dreamers) and possible gun legislation, the Senate is quietly preparing to foist another outrage on the country that could have serious and long-lasting consequences. Senator Mike Crapo, a Republican from Idaho, has a proposed bill before the Senate that would roll back the protections of the Dodd-Frank bill that came about as a result of the near financial disaster that capped the years of George W. Bush in the White House. Crapo's bill is misleadingly called the "Economic Growth, Regulatory Relief, and Consumer Protection Bill," and its primary focus is on the "regulatory relief" portion of the title. The big boys in banking don't like having to follow rules, particularly those that limit profits and avenues for profits.
Some opponents of the measure have labeled it "The Bank Lobbyist's Act." Many fear that Crapo's legislation will insure a future financial meltdown.
Donald Trump has pledged to dismantle Dodd-Frank.
The Crapo legislation will need sixty votes to pass muster in the Senate wheen it faces its final vote next week.. All fifty-one Republican senators support the measure in lockstep, and so does Angus King, the Independent senator from Maine who caucuses with Democrats. King, as well as twelve "regular" Democratic senators, have signed on as co-sponsors of the bill - thus insuring its passage. A preliminary vote this past week garnered 67 yea votes.
I have read about the twelve Democratic "co-sponsors" who are making a show of turning their backs on their party and the principles of economic fairness - but astoundingly, finding the actual list of those twelve - the dirty dozen - has been a challenge. Much has been written about them without naming names, or in some cases only a few names. Many are from swing states and up for re-election - and thus trying to buy their way into the good graces of moderate voters. But highlighting their names in the national press runs the serious risk of alienating the left flank back home. So the national press roars its displeasure, yet declines to say specifically who the villains are.
Well, for the record, here they are:
Doug Jones (Alabama), Joe Donnelly (Indiana) Heidi Heitkamp (North Dakota), Jon Tester (Montana), Mark Warner (Virginia), Joe Manchin (West Virginia), Tim Kaine (Virginia), Gary Peters (Michigan), Michael Bennett (Colorado) Chris Coons (Delaware), Tom Carper (Delaware), and Claire McCaskill (Missouri).
The next time the American financial engines teeter on the verge of total collapse, remember those folks. They gave up the fight for sound financial practices in order to serve a few more years at the public trough - and pocket some donations from big banks in the process.
The vote on the gift to the banking industry is scheduled for next week.
McCaskill obviously has no shame, but as a Missouri voter and a Democrat, I am ashamed for her.
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