Back on Capitol Hill, senators voted 67 to 31 in favor of a sweeping, bipartisan bill rolling back many of the reforms of the Dodd-Frank Act, passed in 2010 in the wake of the financial collapse and Great Recession. The bill would exempt 25 of the nation’s 40 largest banks from being subject to heightened scrutiny by the Federal Reserve. The bill would also roll back the so-called Volcker Rule, which prohibits some banks from making risky bets with taxpayer-insured money. The bill would also loosen a requirement on some mortgage lenders that tracks whether they’re discriminating against minorities. Thirteen Democrats voted in favor of the bill, sending it to the Republican-controlled House of Representatives.
Continue reading: Senators Approve Sweeping Rollback of Dodd-Frank Banking Regulations
The Secular Jurist 
Bad idea with a capital B A D. The words banks and deregulate should NEVER been in the same room as each other.
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Yes, it’s B.A.D. alright.
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Thirteen Democrats have let us down.
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They sure did, Ros.
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So (lately) … what else is new? The lobbyists are apparently fattening their wallets too.
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They need to be challenged every day until they are out of office or change their ways, preferably out of office.
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Reblogged this on sdbast.
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Some people don’t learn anything from that disaster in 2008. The Canadian banks did not crumble because they are closely regulated! Idiots in Congress…
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Idiots, yes… and shysters.
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Bootlickers of the worst kind.
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Yep.
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John, the biggest problem here in the U.S. is that people have become so apathetic and complacent they just shrug it off as “business as usual” and take no action to right these wrongs. Republicans and Corporate Democrats aren’t stupid, they’re horrible people who’ve sold their souls to the highest bidders.
We have to face the reality that democracy is something you need to participate in or it doesn’t exist. Seriously. We need to inspire people to action.
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I understand that, Roy – similar situation up here except that we don’t have a narcissistic megalomaniac as chief executive. We have too many apathetic voters here too.
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Sorry to hear that.
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>>> “… democracy is something you need to participate in or it doesn’t exist.”
Bravo!
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Glad you appreciate the comment. It’s true and the fact that so many people don’t see that is a significant reason for the demise of democracy around the world. Apathy and complacence are killing freedom. We’re like carrion birds ripping tidbits of truth from the carcass of democracy.
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Will this shit EVER end? It’s time for revolution. Seriously.
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Be careful about what you wish for… perhaps a non-violent revolution… November cometh…
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We need a revolution in the hearts and minds of people. That’s where true revolution starts. We can’t put band-aids on gaping wounds, we need to completely rethink the way we interact with each other and with the planet as a whole. It’s become a matter of survival at this point – not just for humanity, but for most living beings.
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That’s what the high schoolers were saying at the D.C. rally today. They won’t stop until there is real change. They will galvanize your nation into action. Seat belts, everyone!
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