Black Caucus Stalls Financial Reform

[SpartanDem]

This is why they're blocking this bill? Gotta love logic the best way give it to Wall St is to hold up a bill regulating it. It really pisses me off to see such an important bill be used as a pawn I kinda expect this behavior from the Lieberman's in the party not from the CBC.





The radio business has nothing to do with the plan to overhaul the nation’s system for regulating banks and other financial institutions.

Except, it turns out, in Congress.

One of most intriguing mysteries here in recent weeks is why members of the Congressional Black Caucus have chosen to buck their party and president in trying to stall financial regulation reform.

The answer lies at least in part with an aggressive lobbying campaign by a troubled New York City-based radio broadcasting company, Inner City Broadcasting, whose co-founder is a prominent New York politician and businessman, Percy Sutton.
{snip}
The matter came to a head Wednesday, when 10 members of the Congressional Black Caucus skipped a House Financial Services Committee meeting, intentionally missing a critical vote on the regulatory reform package, to reinforce demands they have placed on the White House to take steps to address the way the financial crisis has hurt black businesses, including Inner City.
{snip}
“While we appreciate the need for the expansion of regulatory authority, we can no longer afford for our public policy to be defined by the world view of Wall Street,” Maxine Waters, Democrat of California, said Wednesday, in explaining the decision by Black Caucus members to withhold their votes.

[Better Today]

1. I've recently come to respect Ms. Waters. So, I'll be looking around for a

link and a fuller explanation before I condemn them.