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Big Banks Make Desperate Last Ditch Effort to Weaken Wa... - 6/11/2010 10:21:33 PM   
Brain


Posts: 3792
Joined: 2/14/2007
Status: offline 		Big Bank lobbyists would love to stick a knife in important provisions of the financial bill as quietly as possible. Unfortunately for them, the Democratic leadership has done everything it can to make quiet back room dealing difficult. They plan to televise proceedings of the conference for the world to see.

Big Banks Make Desperate Last Ditch Effort to Weaken Wall Street Reform

Everyday Americans have made big progress advancing legislation to rein in the recklessness of the big Wall Street Banks that led to the economic collapse and cost eight million Americans their jobs. Now we have to win one final battle to get a tough bill that will hold Wall Street accountable signed into law…

1). Wall Street is apoplectic over the Senate provision -- sponsored by Senator Lincoln of Arkansas - that would require them to separate their derivatives trading from normal banking operations that receive access to the cheap funds from the Federal reserve that are available to commercial banks.

http://www.huffingtonpost.com/robert-creamer/big-banks-make-desperate_b_608730.html
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RE: Big Banks Make Desperate Last Ditch Effort to Weake... - 6/11/2010 10:24:23 PM   
Owner59


Posts: 17033
Joined: 3/14/2006
From: Dirty Jersey
Status: offline 		Lemmi guess lemmi guess who`s for weakening reform.........


Damm this is a hard one........

Damm!

Can you give us a hint?



_____________________________

"As for our common defense, we reject as false the choice between our safety and our ideals"

President Obama

(in reply to Brain)
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RE: Big Banks Make Desperate Last Ditch Effort to Weake... - 6/12/2010 12:35:33 AM   
Brain


Posts: 3792
Joined: 2/14/2007
Status: offline 		Repugs?

FTA:

In 1947, the financial sector represented only 2.5% of our gross domestic product. In 2006, it had risen to 8%. In other words, of every 12.5 dollars earned in the United States, one dollar goes to the financial sector, much of which, let us recall, produces nothing.

Wall Street's expansion is one big reason that most of America's economic growth during the last decade flowed into the hands of investment bankers, stock traders and partners in firms like Goldman Sachs. The Center on Budget and Policy Priorities reports that fully two-thirds of all income gains during the last economic expansion (2002 to 2007) flowed to the top 1% of the population. And that, in turn, is one of the chief reasons why the median income for ordinary Americans actually dropped by $2,197 per year since 2000.

Time to cut off one more siphon that the big Banks use to extract money from the pockets of everyday Americans -- and the real economy -- and transfer it into the hands of Wall Street Bankers.

Lobbyists for the big Banks say that if Congress includes Durbin's interchange fee provisions the costs will be born by everyday people. If that were so, the big Banks wouldn't be lobbying so hard to prevent it from being included in the final bill.


(in reply to Owner59)
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RE: Big Banks Make Desperate Last Ditch Effort to Weake... - 6/12/2010 12:42:08 AM   
Fellow


Posts: 1486
Joined: 9/21/2009
Status: offline
quote:

Unfortunately for them, the Democratic leadership has done everything it can to make quiet back room dealing difficult. They plan to televise proceedings of the conference for the world to see.


Unfortunately  the Democratic leadership is the integral part of Corporatocracy along with the Republicans. Televised vote proceedings of the backroom gutted bill does not make much difference. 

(in reply to Brain)
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RE: Big Banks Make Desperate Last Ditch Effort to Weake... - 6/12/2010 12:49:58 AM   
popeye1250


Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline 		Screw the banks, they should have let them go into bankruptcy. Instead the govt "rewards" failure!

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"But Your Honor, this is not a Jury of my Peers, these people are all decent, honest, law-abiding citizens!"

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RE: Big Banks Make Desperate Last Ditch Effort to Weake... - 6/12/2010 1:11:18 AM   
Brain


Posts: 3792
Joined: 2/14/2007
Status: offline 		That's fine if it's true, then Democrats will pay the price on election day.

I think Lincoln’s provision will be effective but I can’t stand the bitch after what she did on health care.

quote:

ORIGINAL: Fellow

quote:

Unfortunately for them, the Democratic leadership has done everything it can to make quiet back room dealing difficult. They plan to televise proceedings of the conference for the world to see.


Unfortunately  the Democratic leadership is the integral part of Corporatocracy along with the Republicans. Televised vote proceedings of the backroom gutted bill does not make much difference. 


(in reply to Fellow)
Profile   Post #: 6
RE: Big Banks Make Desperate Last Ditch Effort to Weake... - 6/12/2010 1:14:09 AM   
Brain


Posts: 3792
Joined: 2/14/2007
Status: offline 		I agree with you, Bush should have let them fail.


quote:

ORIGINAL: popeye1250

Screw the banks, they should have let them go into bankruptcy. Instead the govt "rewards" failure!


(in reply to popeye1250)
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RE: Big Banks Make Desperate Last Ditch Effort to Weake... - 6/12/2010 4:47:08 AM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		Why not take them all to Disneyland?

(in reply to Brain)
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RE: Big Banks Make Desperate Last Ditch Effort to Weake... - 6/13/2010 1:25:53 PM   
popeye1250


Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline
quote:

ORIGINAL: Brain

I agree with you, Bush should have let them fail.


quote:

ORIGINAL: popeye1250

Screw the banks, they should have let them go into bankruptcy. Instead the govt "rewards" failure!




Brain, Bush and Obama and Geithner should have let them go into bankruptcy. Who voted for all that T.A.R.P. money?
Obama has surrounded himself with Wall Street insiders. This isn't about "helping the economy" it's about *keeping wealthy people wealthy!* And using Taxpayer Dollars to do it!
"Meet the new boss, same as the old boss."

_____________________________

"But Your Honor, this is not a Jury of my Peers, these people are all decent, honest, law-abiding citizens!"

(in reply to Brain)
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RE: Big Banks Make Desperate Last Ditch Effort to Weake... - 6/13/2010 1:29:00 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		This country is finished.   The banks have won.

Just wait until the dollar devaluation.

(in reply to popeye1250)
Profile   Post #: 10
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