Posted on 12/11/2014 8:08:26 AM PST by SeekAndFind
Senator Elizabeth Warren is bat guano crazy. She is calling on Democrats in the House to oppose the bi-partisan budget bill negotiated by the House and Senate because an obscure rule dealing with derivatives contained in the Dodd-Frank financial regulation reform bill has been removed.
If House Democrats follow her lead, the budget bill will fail and the government will be forced to shut down at 12:01 AM on Friday. At present, Speaker Boehner does not have enough votes for Republicans to pass the measure themselves. That’s because some conservatives in the House are also bat guano crazy and insist they can defund the president’s immigration orders, despite a majority of Democrats in the Senate and a certain veto from President Obama, even if they could somehow get the measure through the upper body.
I have yet to hear one right-winger explain just how defunding can work under these circumstances. Do they plan to hypnotize 15 Democratic senators and, through the power of suggestion, get them to vote for the provision defunding the immigration executive orders? Maybe they don’t know that President Obama has to sign the bill for them to achieve victory. Lacking a coherent plan, their futile gesture will fail and make them look, well, crazy.
Sen. Elizabeth Warren (D-Mass.) called on Democrats in the House to use their leverage and reject a bipartisan spending bill to keep the government open until a measure tucked inside rolling back a piece of the Dodd-Frank financial reform law is removed.
“Who does Congress work for?” Warren said in a speech on the Senate floor Wednesday afternoon. “Does it work for the millionaires, the billionaires, the giant companies with their armies of lobbyists and lawyers, or does it work for all the people?”
Warren’s call went further than House Minority Leader Nancy Pelosi, who said Wednesday that she is “deeply troubled” by the banking measure. The Democratic discontent with the measure could make passing the bill more difficult, as House Speaker John Boehner is not expected to have enough votes on his own.
(Also on POLITICO: Coburn threatens spending deal over defense bill)
Warren, a popular figure on the left, told Democrats to withhold their support for the funding bill until the Wall Street provisions are removed. Warren, a fierce opponent of Wall Street, is a populist who has supported reforming banks for years.
“Now, the House of Representatives is about to show us the worst of government for the rich and powerful,” she continued. “The House is about to vote on a budget deal, a deal negotiated behind closed doors that slips in a provision that would let derivatives traders on Wall Street gamble with taxpayer money and get bailed out by the government when their risky bets threaten to blow up our financial system.”
She acknowledged that bipartisan House and Senate negotiators have worked “long and hard” on the spending bill, and that Senate leadership “deserve great credit for preventing the House from carrying out some of their more aggressive … fantasies about dismantling even more pieces of financial reform.”
Note: The amendment to Dodd-Frank would mostly help farmers and other commodity producers.
Some House conservatives want to join with liberal House Democrats to assure a government shutdown. They probably wouldn’t admit it, but that is the practical effect of their plans. But for rabid ideologues of the right and left, “practical” is just another word for “cowardice.”
Rand Paul On Shutdown: "Even Though It Appeared I Was Participating In It, It Was A Dumb Idea"I said throughout the whole battle that shutting down the government was a dumb idea. Even though it did appear as if I was participating in it, I said it was a dumb idea. And the reason I voted for it, though, is that it's a conundrum. Here's the conundrum. We have a $17 trillion debt and people at home tell me you can't give the president a blank check. We just can't keep raising the debt ceiling without conditions. So unconditionally raising the debt ceiling, nobody at home wants me to vote for that and I can't vote for that. But the conundrum is if I don't we do approach these deadlines. So there is an impasse. In 2011, though, we had this impasse and the president did negotiate. We got the sequester. If we were to extend the sequester from discretionary spending to all the entitlements we would actually fix our problem within a few years.[Posted on 11/19/2013 12:16:51 PM by Third Person]
> called on Democrats in the House to use their leverage and reject a bipartisan spending bill to keep the government open until a measure tucked inside rolling back a piece of the Dodd-Frank financial reform law is removed.
Go Fauxcahontas!!!
I would vote no too - albeit for different reasons.
It is beginning to sound like Hillary may be in trouble from the left.
Rand Paul, Warren, and a few others, if they could get together and defeat this monstrosity....GO FOR IT!!
I vote that we only shut down certain parts of it.
Elizabeth Warren wants to shut down the govt!
Translation: Elizabether Warren wants attention.
The irony of Dems threatening a govt shutdown is hilarious - and will be seen as noble, of course.
That being said, on Morning Joe (yes, I watch, to see what the loons are up to) the issue was portrayed as a change in financial law that would allow banks to conflate FDIC-insured bank accounts with derivative trading (again?). This sounds like a terrible idea, and if true (doubtful), then Elizabeth Warren is correct on this issue (she and Sarah Palin see eye-to-eye on Wall Street and crony capitalism in many ways).
Can someone explain this a bit more?
Shut it down, at this point I don’t care who or why, just shut it down. Possibly while it’s down and they’re “negotiating” how to best screw us over, bankrupt the nation and support the invasion forces that are taking over America, common sense will prevail. Excuse me, common sense appears to be a lost commodity.
““Who does Congress work for?” Warren said in a speech on the Senate floor Wednesday afternoon. “Does it work for the millionaires, the billionaires, the giant companies with their armies of lobbyists and lawyers”
Yes.
Translation: They want to enforce the laws of this country.
Pray America is waking
I think the last government shout down killed the Democrats ,so go ahead and put it out of everyones misery
Elizabeth Warren is a self-serving liar. She could not get together with anyone to defeat this monstrosity.
Translation: They want to enforce the laws of this country.
Pray America is waking
She has a point. Why is this provision in this bill?
when have the media not pointing out facts and instead they cover for the rats by blaming the GOP then of course they want the shutdown.
Fauxcahontas.Now that’s funny, I don’t care who you are. Quoting Larry the Cable guy.
The Dems have moved very far leftward since Bill Clinton was in office. Hillary is now too conservative to be their nominee (God help us all)
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