The worst provision was written by a Citigroup lobbyist and undoes a key part of the financial reform law that protects taxpayers from having to bail out banks due to risky Wall Street gambling.
Elizabeth Warren's amazing Senate floor speech puts it all in proper perspective:
"We put these rules in place after the collapse of the financial system because we wanted to reduce the risk that reckless gambling on Wall Street could ever again threaten jobs on Main Street...MY WORDS: (and now the very devils who got away scot-free the last time are trying to undo the reforms that would prevent them from taking us all to the cleaners again!)
Warren goes on to say: "I urge my colleagues in the House, particularly my Democratic colleagues whose votes are essential to moving this package forward, to withhold support for it... (AMEN TO THAT!)
Yet another last-minute provision would make it even harder for the voices of everyday people to be heard in Congress. The package would multiply ten times the amount of money wealthy individuals can give to a political party. (!!!!!)
I would love to see Elizabeth Warren run for President and WIN!
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