Elizabeth Warren, David Vitter Make LAST-MINUTE PRESS Against Reid On 'WALL STREET GIVEAWAY'

[Segami]

WASHINGTON -- The fight over a subsidy for risky Wall Street derivatives trading isn't over quite yet. Sens. Elizabeth Warren (D-Mass.) and David Vitter (R-La.) introduced an amendment Friday to strip out the controversial provision from the spending bill that would fund the government until next October. The amendment forces Senate Majority Leader Harry Reid (D-Nev.) to choose between holding a vote to strip out controversial changes to Dodd-Frank in the House-passed omnibus, or anger the progressive wing of his caucus. Reid had already signed off on the funding bill in its current form, and the White House has also backed the measure and urged its passage. The House passed the $1.1 trillion omnibus spending bill Thursday, fending off a Democratic rebellion over riders that would roll back aspects of the Dodd-Frank reform and weaken campaign finance laws. Reid said he shared his colleagues' reservations but urged Democrats to support the bill's passage nonetheless.

"I don't support the weakening of Dodd-Frank and the restrictions on the District of Columbia and other things, but I didn't write this bill. The Senate Democrats didn't write this bill alone," Reid said on the Senate floor Friday. "It's a compromise. That is what legislation is all about."

A spokesman for Reid did not immediately return a request for comment when asked if he would allow a vote on the measure.

"Wall Street has been working behind the scenes to open another loophole so they could gamble with taxpayer money and get bailed out when their risky bets threaten to blow up our financial system," said Warren. "This giveaway that was drafted by Citigroup lobbyists has no place in a critical government funding bill."

"Before Congress starts handing out Christmas presents to the megabanks and Wall Street, we should vote on this bipartisan amendment," Vitter said. "We need to remove these risky derivatives that aren't even necessary for normal banking purposes and would only make future taxpayer funded bailouts more likely."

Reid is unlikely to allow a vote on the amendment during a crowded Senate schedule. The spending bill, including the Wall Street subsidy, is expected to pass by a wide margin.




http://www.huffingtonpost.com/2014/12/12/elizabeth-warren-david-vitter-wall-street_n_6317098.html

[1StrongBlackMan]

1. Isn't this how our democracy ...

is supposed to work?

A bill is passed you don't like ... you offer an amendment stripping the offensive part(s) out; all the better, if you can find someone one the other side of the aisle to co-sponsor the amendment?

Reid is unlikely to allow a vote on the amendment during a crowded Senate schedule. The spending bill, including the Wall Street subsidy, is expected to pass by a wide margin.

Unattributed editorial comment?

[joeybee12]

2. Jebus, even Vitter is better than some "dems"

Tells you how far right or how unfocused Dems are.

[robinlynne]

3. When will the "compromises" contain 50% representing the 99%?

[liberal_at_heart]

4. You're right Reid. You and other Senators didn't write this bill. The problem is neither did

The House of Representatives. The banks did. Strip the provision.

[Segami]

5. Someone needs to ask Reid..

what purpose does this provision provide and who's needs does it serve?

[AikidoSoul]

6. Good point. Big point. It's the entire point.

Except for the point that we now have a large group of prostitutes imitating Congresspersons, who will do anything for money.

The trouble is that the rest of us will be forced to bend over and take it like good little serfs.

I am really, really angry at what happend with this vote. It is such a total betrayal. It's beyond that. It's suicide for our country.

[KittyWampus]

7. it's only getting worse after Republicans get control of Congress.

[Gman]

8. EFFING COMPROMISE????

When has the GOP EVER compromised???

[7962]

9. Anyone ever expect to see Vitter & Warren together? Anyone? Anyone? Bueller?

Wow.

[Veilex]

10. "It's a compromise. That is what legislation is all about"

Like hell it is! Legislation is about serving the citizenry of this country. Not greedy parasites intent on plunging us into yet another depression through derivative trading!