Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Dodd-Frank Rollback Bill: “It’s Christmas for the C-Suite and Crumbs for the Cratchits”

Courtesy of Pam Martens

U.S. Senator Sherrod Brown

U.S. Senator Sherrod Brown

Just when you thought the bills coming out of this Congress could not get any more repugnant in their giveaways to the richest Americans, the U.S. Senate Banking Committee proved otherwise yesterday.

The hearing to approve Senate Bill S.2155 was so tainted with doublespeak and preposterous assertions that it would beef up consumer protections, while actually slashing them to shreds, that the video of the hearing has just up and disappeared. As of 8:00 a.m. this morning, it’s not on the Senate Banking Committee website. All that we could locate to review what actually went down in this sellout-to-the-rich session was an audio recording at C-SPAN. Curiously, however, there are numerous breaks in this audio where the speaker’s comments are cut off. Typically, these occur when a Democrat is challenging some provision in the bill. C-SPAN notes that the audio “was produced by the U.S. Congress.” 

In a shocking rebuke to their constituents, four Democrats on the Banking Committee joined with 12 Republicans to pass the measure. Those four are:  Joe Donnelly of Indiana, Heidi Heitkamp of North Dakota, Jon Tester of Montana and Mark Warner of Virginia.

In his opening statement, Democratic Senator Sherrod Brown, the ranking member of the Senate Banking Committee, called the bill “Christmas for the C-suite, and crumbs for the Cratchits.” His full statement appears below.

In a 7-page, November 30 letter to the Senate Banking Chair Mike Crapo and ranking member Brown, the nonprofit watchdog, Public Citizen, provided a detailed critique of the critical consumer protections that would be rolled back under this bill. The letter stated:

Continue Here


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!