General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsAnyone know who were the people who added these derivative bailouts in the budget bill? I think
Harkin was behind taking funds from the Pell grants, but I haven't seen any names associated with the bail out for the banks in the bill, and sure would like to see some names. I guess we can infer when we sees who votes for it.
Octafish
(55,745 posts)Courtesy of the Cronybus(sic) last minute passage, government was provided a quid-pro-quo $1.1 trillion spending allowance with Wall Street's blessing in exchange for assuring banks that taxpayers would be on the hook for yet another bailout, as a result of the swaps push-out provision, after incorporating explicit Citigroup language that allows financial institutions to trade certain financial derivatives from subsidiaries that are insured by the Federal Deposit Insurance Corp, explicitly putting taxpayers on the hook for losses caused by these contracts. Recall...
SOURCE: http://www.zerohedge.com/news/2014-12-12/presenting-303-trillion-derivatives-us-taxpayers-are-now-hook
still_one
(91,965 posts)Octafish
(55,745 posts)It would put the US Taxpayer, meaning me and I assume you, on the hook for at least the $303 Trillion they know about.
still_one
(91,965 posts)Derailing of the Dodd Frank, along with moving funds out of the pell grant program, etc.
I suspect one of the reasons he will sign it is because he wants to avoid a government shutdown, but the problem with this bill is that it hurts the little guy as you said, at the expense of citi corp
merrily
(45,251 posts)I am not sure you can tell everything by votes.
It's all we have to go by, true, but I believe a controversial vote like this one would have been the subject of a lot of behind the scenes wheeling and dealing about who would vote for it and who would not. Sure, if someone sponsored the bill, it's relatively certain that they will own it.
Beyond that, I'd never discount DC kabuki. People who are pretty sure they'll never run again, people from what seem to be the safer seats, etc are likely to be "volunteered" for controversial votes. (See the yeas and nays for the Amash Conyers amendment, for example).
still_one
(91,965 posts)merrily
(45,251 posts)On edit.
Oh, never mind I get it. The Bailout provision. I was making a different point though, one in response to your comment about seeing the votes. Seeing the votes is not going to tell us who was responsible for including a provision in a bill. And I imagine the other poster is correct about Citigroup writing it.
still_one
(91,965 posts)merrily
(45,251 posts)names on the bill and who agreed to vote for it, even if the vote turns out to have been the product of behind the scenes wheeling and dealing. While that's not everything, it's something (thanks to the Constitution requiring a public record). And, we can always hope someone talks!
octoberlib
(14,971 posts)No one in Congress will admit to adding the campaign finance legislation , which rolls back the McCain Feingold campaign finance reform bill , either.
SamKnause
(13,043 posts)They should be outed and ran out of town on a rail.
still_one
(91,965 posts)SamKnause
(13,043 posts)but no one will come forward and admit they added it to the bill.
President Obama and Jamie Dimon made calls to push this piece of garbage through.
still_one
(91,965 posts)hifiguy
(33,688 posts)doc03
(35,148 posts)were involved with that since there is almost dead silence about it. Just remember when your pension gets cut President Obama (a Democrat) signed the f---g thing.
SamKnause
(13,043 posts)doc03
(35,148 posts)the President. So we have a giveaway to the banksters, a giveaway with the TPP, gutting of campaign finance laws and I will bet
the ACA will be gutted. We haven't gained one f---g thing in the last 6 years.
SamKnause
(13,043 posts)this morning.
The majority of unions are against the Cromnibus Spending bill.
3 were mentioned that support it.
The Democratic party on a whole has no balls.
They suck at negotiations.
President Obama and Jamie Dimon called the Democratic politicians urging them to vote for this monstrosity.
Wall Street made Trillions from the bailouts.
No one prosecuted for crashing the global economy.
No one prosecuted for torture.
President Obama appoints Wall Street insiders over and over again.
President Obama left some of the Bush holdovers in positions of power.
The whole damn thing is nauseating.
But on the bright side the rigged stock market is doing great.
RobertEarl
(13,685 posts)Third way.
Not teabaggers or liberals, but middle ground politicians.
Our congress is the best money can buy and Citigroup has more money than gawd, and so they could afford to buy the votes. Think of it as an investment. And we all know America is the best country ever for the richest ever, so expect even more votes like this!!
pa28
(6,145 posts)With the kind of scum capable of pulling such a brazen stunt infesting your own party who even needs Republicans?
2naSalit
(86,061 posts)he claims it was a bipartisan thing and is bummed out that it was such a stadium stinker.
http://ctmirror.org/himes-has-tough-win-on-controversial-wall-street-provision-in-spending-bill/