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The Levee Breaks: Democrats Rage Against Obama Over Wall Street Giveaway
Huffington Post ^ | 12/12/14 | Zach Carter

Posted on 12/13/2014 9:46:05 AM PST by Libloather

WASHINGTON -- Less than a month after Sen. Elizabeth Warren (D-Mass.) landed a new Senate leadership position, Senate Majority Leader Harry Reid (D-Nev.), Sen. Chuck Schumer (D-N.Y.) and President Barack Obama risked a fight with her over government subsidies for risky Wall Street derivatives trading.

They won the near-term policy fight: After a bruising bicameral battle, the House of Representatives narrowly approved an annual spending bill that granted taxpayer support for the risky financial contracts at the heart of the 2008 meltdown.

But the bitter feud left Reid and Obama politically embarrassed, while consolidating a burgeoning populist movement within the Democratic Party that highlighted Warren's influence in wings of the Capitol far removed from her perch on the Senate Banking Committee. It also forced Obama and a host of Democratic leaders into the crosshairs of a critique Warren typically levels at Republicans: that powerful people in Washington are rigging the system to help Wall Street at the expense of the middle class.

(Excerpt) Read more at huffingtonpost.com ...


TOPICS: Crime/Corruption; Extended News; Government; News/Current Events
KEYWORDS: democrats; rage; street; wall
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RATS have a cow.
1 posted on 12/13/2014 9:46:06 AM PST by Libloather
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To: Libloather

Obama’s (and all politicians) most valuable base is, was and will always be the Money Changers in Wall Street. The Mother’s Milk of politics is green.


2 posted on 12/13/2014 9:50:31 AM PST by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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To: Libloather

I am a Wall Street illiterate, but of the feds are giving subsidies to the risky derivatives (futures, options etc.) market, I am with her.


3 posted on 12/13/2014 9:50:32 AM PST by yetidog
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To: Libloather

We’ve now got The O right where we want him—giving our wealth away to the 1%


4 posted on 12/13/2014 9:53:45 AM PST by imardmd1 (Fiat Lux)
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To: Libloather

“”But the bitter feud left Reid and Obama politically embarrassed””

Those two pukes are not capable of being embarrassed.


5 posted on 12/13/2014 9:54:25 AM PST by CMailBag
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To: Libloather
bkmk

How can anyone believe this phony BS from HuffPost?

I really don't understand why or how people are swallowing this tripe and would like to know.

6 posted on 12/13/2014 9:55:13 AM PST by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
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To: imardmd1

Fauxcahontas is setting herself up beautifully for 2016.

Both against Hillary and in November.


7 posted on 12/13/2014 9:55:27 AM PST by nascarnation (Impeach, Convict, Deport)
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To: Don Corleone

I am past ready for another Republican trust buster like Reagan to come along and break up all these banks and financial institutions!

NO BUSINESS should be allowed to be so big, that the government can’t let it fail.

THAT should be the very criteria for determining how big is too big!


8 posted on 12/13/2014 9:57:06 AM PST by TexasFreeper2009 (Obama lied .. the economy died.)
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To: mrsmith
How can anyone believe this phony BS from HuffPost? I really don't understand why or how people are swallowing this tripe and would like to know.

I suspect it is BS but I have not confirmed it yet.

9 posted on 12/13/2014 10:03:44 AM PST by FreeReign
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To: Libloather

Who cares, Obama’s not running for reelction. But when Fauxahontis comes up with the same rap, they’ll vote for her. They’re suckers.


10 posted on 12/13/2014 10:03:49 AM PST by Fido969 (What's sad is most)
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To: TexasFreeper2009
NO BUSINESS should be allowed to be so big, that the government can’t let it fail.

If they would just be allowed to fail and take the consequences without dragging the taxpayer into it, bigness in and of itself wouldn't be a problem.

11 posted on 12/13/2014 10:07:17 AM PST by Paine in the Neck (Socialism consumes EVERYTHING)
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To: Libloather

The BOTTOM LINE is that Wall Street simply CANNOT BE TRUSTED to handle money responsibly. They had their chance and now our kids have another $3 TRILLION dollars (at least) in debt to show for it (by the way, just for reference, $3 Trillion is enough to buy about 12,000 B2 Bombers, the Air Force currently has a total of 21 B2s...it’s REAL MONEY). And beyond that, no one even a paid a price for that level of theft.

These people simply have to be REGULATED TO DEATH, or the same will happen again. And I say that as a free-market person - there are simply some areas that the free-market will not work in...or maybe it could, if we had a justice system like China’s, where these people would have been executed, but we don’t.


12 posted on 12/13/2014 10:07:24 AM PST by BobL (I'm so old, I can remember when most hate crimes were committed by whites - Thomas Sowell, 2014)
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To: yetidog
It is much more important to understand how Wall Street was forced into creating derivatives by liberals and their affordable housing politics.

Read Thomas Sowell's book "The Housing Boom and Bust".

13 posted on 12/13/2014 10:08:22 AM PST by Buffalo Head (Illigitimi non carborundum)
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To: TexasFreeper2009

Exactly. “Anti-Trust Laws”, what are those?


14 posted on 12/13/2014 10:09:39 AM PST by dfwgator
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To: Paine in the Neck

but that’s exactly the issue.

some businesses have become SO big, that the government CANT just let them fail. Letting them fail would collapse the entire US and possibly world economy.

Such businesses NEED to be broken up! And the first serious Republican presidential candidate to embrace this will win in a landslide.


15 posted on 12/13/2014 10:10:45 AM PST by TexasFreeper2009 (Obama lied .. the economy died.)
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To: Buffalo Head
"...forced into creating derivatives…"

LOL!! That's a good one.

16 posted on 12/13/2014 10:12:36 AM PST by moehoward
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To: Buffalo Head
"Illigitimi non carborundum"
"Don't let the bastards grind you down"
love that FR_tagline.

17 posted on 12/13/2014 10:20:14 AM PST by skinkinthegrass ("Bathhouse" E'Bola/0'Boehmer/0'McConnell; all STINK and their best friends are flies. d8^)
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To: BobL
These people simply have to be REGULATED TO DEATH, or the same will happen again. And I say that as a free-market person

Hilariously hypocritical. Nice Nanny State philosophy there.

How about less regulation and some caveat emptor. No more taxpayer bailouts or government insurance for risky behaviour

You may have noticed, apparently not, that all these Bank Bailouts have come after GREATER AND GREATER regulation. Hows that working for you?

18 posted on 12/13/2014 10:22:00 AM PST by corkoman
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To: nascarnation
"Fauxcahontas"....also known for being as far left as Obama...this new cover for 2016 is the same old cover...
for big government run by Socialism....Americans really want a Stalin in skirts?
19 posted on 12/13/2014 10:34:29 AM PST by yoe
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To: BobL
These people simply have to be REGULATED TO DEATH, or the same will happen again.

You've already gotten one answer to this tripe. But here are two more: the more that regulators regulate, the less competition there will be to the big banks. Second, the main reason for the banking excesses is failed Fed policy which basically consists of shoveling newly printed money into the biggest banks in hopes that it might trickle down to the rest of the economy.

20 posted on 12/13/2014 10:36:34 AM PST by palmer (Free is when you don't have to pay for nothing. Or do nothing. We want Obamanet.)
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