Senate advances plan to weaken Dodd-Frank banking rules
Source: The Washington Post
By Erica Werner and Renae Merle March 6 at 11:42 AM
A plan to scale back post-financial crisis banking rules cleared a key Senate hurdle Tuesday, with a bipartisan coalition voting to move the measure toward passage.
The Senate voted 67 to 32 to move toward debate on the measure, well over the 60 votes needed in the closely divided Senate.
Days of contentious debate loom before final passage, with Sen. Elizabeth Warren (D-Mass.) pledging to deliver a series of speeches in opposition. But the level of bipartisan support Tuesday suggested the measure will eventually get the Senates approval. The House would need to approve the legislation as well before it could become law.
If passed, the measure would mark the most significant revision of banking rules since Congress passed a sweeping financial regulatory law in response to the 2008 economic crisis.
Read more: https://www.washingtonpost.com/business/economy/senate-advances-plan-to-weaken-dodd-frank-banking-rules/2018/03/06/286dbce8-215a-11e8-badd-7c9f29a55815_story.html?utm_term=.f1c1931744ae&wpisrc=al_politics__alert-politics--alert-economy&wpmk=1
Eliot Rosewater
(31,097 posts)The Velveteen Ocelot
(115,280 posts)the big banks would be delighted for the opportunity to deal in subprime mortgages, credit default swaps and other dodgy derivatives.
bluestarone
(16,722 posts)jmowreader
(50,453 posts)Since Trump wants everyone to think hes in that group, its understandable hed want this.
alarimer
(16,245 posts)Why they think this bill will do anything except start another recession, I don't know. They are naive at best, complicit at worst.
angrychair
(8,593 posts)We are being sold out....when are we going to learn that a (D) after your name should not get you a free pass to do as you please!!!!
Exotica
(1,461 posts)Michael Bennet of Colorado
Tom Carper of Delaware
Chris Coons of Delaware
Joe Donnelly of Indiana
Maggie Hassan of New Hampshire
Heidi Heitkamp of North Dakota
Doug Jones of Alabama
Tim Kaine of Virginia
Angus King of Maine (I)
Joe Manchin of West Virginia
Claire McCaskill of Missouri
Bill Nelson of Florida
Gary Peters of Michigan
Jeanne Shaheen of New Jersey
Debbie Stabenow of Michigan
Jon Tester of Montana
Mark Warner of West Virginia
https://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=115&session=2&vote=00048