Wednesday, November 15, 2017

It's nice to know at least the bankers are safe

A group of senators on Monday rolled out a rare, bipartisan agreement years in the making that would relax a number of banking regulations enacted after the 2008 financial crisis.

[...]

Sen. Sherrod Brown of Ohio, the top Democrat on the Banking Committee, said he opposed the proposal because it went too far in rolling back regulations.

But with nine Republicans, eight Democrats and one independent senator signing on, the package had a significant head start on the way to advancing through the Senate, where bipartisan agreement is essential to passing most laws.

[...]

In June, House Republicans passed a bill known as the Financial CHOICE Act that would repeal whole sections of Dodd-Frank and scale back the authority of the Consumer Financial Protection Bureau — the kinds of provisions that are absent from the more targeted Senate compromise.

[...]

“Our bill is an example of how if Democrats and Republicans can put partisanship aside and work together, we can reach real compromises that support the country,” Sen. Heidi Heitkamp (D-N.D.) said.

[...]

Treasury Secretary Steven Mnuchin said he’s "very, very supportive” of the agreement, which he praised as “a bipartisan proposal, which I think is terrific.”

  Politico
Yes, Heidi and Steve, that's all we've ever wanted - Democrats and Republicans working together. 

...but hey, do what you want...you will anyway.

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