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Congress Actually Stands Up to Banks . . . But What About the Senate?
My friend on the Hill has confirmed the Washington Post's claim that
the big banks have lost their bid for exemption from state regulations.
But only in the House. My friend says that the too big to fails are going to try to kill the bill in the Senate.
As the Post summarizes the battle in the House:
The
House Financial Services Committee is expected to vote Tuesday to let
state governments protect bank customers by imposing restrictions that
go beyond existing federal laws, according to congressional and
industry sources.
The move would roll back a doctrine called
preemption that has allowed big banks to answer solely to federal
regulators. The banks argue that operating under a single set of rules
is more efficient and results in lower prices for customers. But the
Obama administration, which is pushing for the change, regards
preemption as a cause of the crisis because it prevented state
regulators from quashing obvious abuses.
The change essentially would unleash 50 additional regulators on the largest banks.
Large
banks have fought bitterly against the proposal, which they regard as
one of the most problematic components of the administration's
financial reform plan, but they have been unable to sway House
Democrats.
Call your Senator and demand that state banking regulations be allowed to be as tough as the state wishes.
The senate sucks....small State senators respoect money more than voters, as money goes a long long way in their low population states.
Senate is taxation without representation.
Does the Senate accomplish anything? About as useful as a bowl of shit.
Natural organic fertilizer has a use.
What the Senate accomplishes is allow the House to pass something, since everyone is up for election every two years, then kill in in the Senate, since only 1/3 are up for immediate ouster for failing to represent their electorate. The other 2/3 has a couple of years to harvest some pork and let things cool down.
Write my senators? Hah, been there done that. Mine are in the bag bought and paid for, Feinstein and Boxer. My question is how is this going to get out of the house with the other California anti-American crook Peloski.
Yeah, I'm tired of "thank you for your ... " automatic responses. They are all bought and paid for, and the 2010 seats are hedged. Congress should be a volunteer organization, each member with a JD and having "interned" with the ACLU for at least a year, before being eligible for office. Then, upon nomination/election, forced to submit to monthly lie detector tests.
http://www.conservativeusa.org/mega-cong.htm
That is a link to all the names and addresses as well.
They have a xcel download with all the fax numbers, I think that is going to be the easiest way to get to all of them at once. (since they use web based email forms now)
Maybe someone can fill me in on fax broadcasting? You know, so I can send all 543 of them a message every day. Let me know!
If the States see revenue out of this- you can bet you ass they'll (the Senate) will get this passed.
I'm embarrased to admit that I didn't see this earlier. Lazy
http://www.nytimes.com/2009/10/19/opinion/19krugman.html
Son bitch!, I like that - recall the Oriental expression Chu U
STOP the looting and pilaging of OUR NATION!!!
Nothing will change, until the people get out from behind their computers and into THE STREETS to protest this theft!!
How much more will it take??
Seriously- Bernanke, Paulson and Geithner must be in shock that they have pulled off the biggest heist of the century in broad daylight!
Are Americans THIS LAZY and STUPID that they would stand by while the future of their nation and children is stolen?
Yep.
But for some reason I still hope.