"Sen. Elizabeth Warren (D-Mass.) again lashed out at big banks for lobbying to repeal financial reforms made after the economic crisis. 'A dangerous provision was slipped into a must pass bill,' Warren said Friday."
Senator Elizabeth Warren. (photo: People Magazine)
Elizabeth Warren to Banks: We Should've "Broken You Into Pieces"
13 December 14
en. Elizabeth Warren (D-Mass.) again lashed out at big banks for lobbying to repeal financial reforms made after the economic crisis.
“A dangerous provision was slipped into a must pass bill,” Warren said Friday.\
The Senate is considering the $1.1 trillion “cromnibus,” which funds must of the government through September. House Republicans refused to fund the Department of Homeland Security beyond February as protest to President Obama’s executive order on immigration.
They also attached a rider unpopular with liberal Democrats that would repeal part of the Dodd-Frank financial reform law.
Warren argues the repeal of the provision is a hand out to powerful banks that would leave taxpayer holding the bag again if risky investments fall through.
“I agree with you Dodd-Frank isn’t perfect,” Warren said. “It should have broken you into pieces.
“If we want to open up Dodd-Frank, let’s do it and really end too big to fail rather than just saying we did.”
Warren rallied House Democrats to oppose the bill — it still passed, but only 57 Democrats supported it.
The long-term spending bill is expected to pass the Senate, but there are also objects on the Republican side. Sen. Jeff Sessions (R-Ala.) has complained that the funding bill still allows the president to execute his immigration order.
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