Perhaps Americans will finally realize who they're serving? Hard to ignore when the banks get to write their own laws! Also part of this was an increase in legalized bribe limits by a factor of ten.
Around nine o’clock last night, the House passed a massive $1.1 trillion spending plan. This action averted a government shutdown—a good thing. Less good was the fact that the bill also contained a provision, said to be written by Citigroup, repealing a key part of the Dodd-Frank Act.
The provision enables the big banks once again to use insured deposits and other taxpayer subsidies and guarantees to gamble in the derivatives markets—the very type of business that drove the 2008 financial crisis and the economic devastation that followed.
The bill now goes to the Senate where it is expected to pass in the coming days. After four years of twisting arms in Congress, Wall Street had finally found the perfect moment to reshape financial regulation—less than three hours before the government was about to run out of money.
