Senate Takes Key Procedural Step on Reg Reform Bill

Republican, Democrat senators look to rewrite Elizabeth Warren's history

Republican, Democrat senators look to rewrite Elizabeth Warren's history

The bill, which is scheduled for an initial Senate vote Tuesday and is expected to pass the chamber as soon as this week, would roll back some of the regulations Congress put in place after the 2008 financial crisis. Because the bill also includes relief for smaller community banks, exempting those with less than $10 billion in assets from the Volcker Rule, which restricts banks from speculative investments in hedge funds and other riskier products. "As the Congressional Budget Office reported today, the bill that the Senate will be considering this week will 'increase the likelihood that a large financial firm with assets of between $100 billion and $250 billion would fail.' Why would any member of Congress vote to move us closer to another taxpayer bailout of large financial institutions?"

The strong bipartisan vote paves the way for the Senate to pass the bill by the end of the week.

All Republicans voting supported the bill, and four Democrats voted to open debate in addition to the co-sponsors: Sens. "The bill is geared toward smaller banks - banks under $250 billion in assets".

"The bottom line is that S. 2155 does not require the deregulation of foreign banks, but they will no doubt be deregulated, which will once again put USA taxpayers on the hook for bailouts of foreign banks rather than the taxpayers of those foreign countries", he said. "Eight years after almost every Senate Democrat backed a sweeping set of new rules for financial firms large and small, the party is now split, with moderates, several of them facing tough midterm election contests, working with the opposing party", the Washington Post said.

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Right now, hospital officials do not know how numerous eggs and embryos are viable, only that a number have been impacted. Women and families choose to freeze their eggs or embryos for a number of reasons to try and have a baby at a later date.

Democratic backers say the bill can revitalize community banks and help the smaller institutions hold their own against Wall Street giants.

He later added: "You'll see this rhetoric that this going back to the bad old days, and this is, say, a giveaway to the big banks".

In a pen-and-pad with reporters on Tuesday, four moderate Democrats - Heitkamp, Tester, Donnelly and Warner - tried to dispel mischaracterizations of the bill. The new Democratic senator from Alabama, Doug Jones, is also a supporter. "But I believe a outcome of it has been to accelerate consolidation of banks".

"I'm very anxious about the consolidation of the banking industry in Virginia", said Kaine, who was Hillary Clinton's running mate in 2016 and who describes himself as a "huge" supporter of Dodd-Frank. Now, just about 10 years after the financial crisis that destroyed millions of jobs and devastated the country, Republicans want to weaken Dodd-Frank and unleash some of the banks' worst tendencies.

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"I don't have an opinion on how it should play in the midterms", Brown said. "I'm between concerned and alarmed about what my colleagues are doing on weakening bank rules".

The senator has expressed some willingness to work on revising Dodd-Frank.

Under the bill, the Federal Reserve would be required to ease its capital and liquidity requirements for regional banks with $50 billion to $250 billion in assets.

The House passed a more comprehensive financial deregulation bill a year ago, but senators are hopeful that the House will accept the bill that they approve with only minor changes. Elizabeth Warren (D-Mass.) told the Chicago Tribune the proposed bill would allow 25 of America's 40 largest banks to fall under the same regulatory rules as small town community banks.

Lenin statues brought down in Tripura
We don't support dismantling of statues of heroes be it that of Gandhiji, Netaji, Swami Vivekananda, Marx or Lenin . There have been clashes between BJP and Communist party workers in the state.

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