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Forum Post: Senate Republicans plan new tactic for undermining Dodd-Frank

Posted 5 years ago on July 27, 2015, 5:46 a.m. EST by factsrfun (8277) from Phoenix, AZ
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"After seeking for months to win support from Democrats for legislation sponsored by Senator Richard Shelby that narrows the reach of the law, Republicans are considering adding their measure to a government spending bill, according to three people with knowledge of the matter who asked not to be named because the deliberations are private.

The move could further anger Democrats, who have argued that the legislation would roll back essential taxpayer protections put in place five years ago to prevent a repeat of the 2008 financial crisis. Democrats including Senator Elizabeth Warren of Massachusetts slammed Republicans and bank lobbyists last year after they included an easing of derivatives rules in a spending bill."

"Treasury Secretary Jacob J. Lew on Monday said that the administration would oppose efforts to remove Dodd-Frank regulations, especially through spending bills.

"“This tactic of using riders on must-pass legislation to chip away at crucial financial reforms is unacceptable,” Mr. Lew said."




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[-] 1 points by turbocharger (1756) 5 years ago

Dodd Frank is just a shit show for the people.

The only thing it does is make the life of community banks tougher, something both of these scumbags support.

[-] 1 points by factsrfun (8277) from Phoenix, AZ 5 years ago

Crying out for the poor bankers, why am I not surprised?

[-] 0 points by turbocharger (1756) 5 years ago

I would love to see Glass Steagall reenacted. And actually enforced, it was pretty laxed by the politicians by the time.,

Barney Frank isn't for it: http://thehill.com/policy/finance/248674-barney-frank-warren-wrong-on-glass-steagall

And freakin Chris Dodd actually voted for repealing it the first time.

These are the two sell outs that created this piece of legislation. IF bought their bullshit, then thats on you.

[-] 1 points by factsrfun (8277) from Phoenix, AZ 5 years ago

I'm sure your Republican friends will fix it all...have you heard about this thing called primaries?

[-] 1 points by DKAtoday (33802) from Coon Rapids, MN 5 years ago

It should make you happy then - that Bernie wants Glass–Steagall back.

[-] 1 points by MattHolck0 (3867) 5 years ago

dodd frank and lew

is there tp ?

[-] 1 points by factsrfun (8277) from Phoenix, AZ 5 years ago

You normally use the Constitution don't you?

[-] 1 points by MattHolck0 (3867) 5 years ago

common sense is at the relative center of each existence

[-] 1 points by DKAtoday (33802) from Coon Rapids, MN 5 years ago