17 Senate Dems & 33 House Dems voted for partial Dodd Frank repeal of banking regulations leading to collapse+Maxine Waters promises hearings "soon"

[basquebromance]

with both parties AWOL, The Fed can get tougher on regulating banks, though it's not mandated to, but it should!

 

[mamooth]

From wiki
---
In the House, the bill passed by a 258-19 vote with support from all but one Republican (the exception being Walter B. Jones Jr.) and 33 out of 193 Democrats. In the Senate, the bill passed by a 67-31 vote with support from all Republicans and 17 out of 47 Democrats. Within the Democratic caucuses, progressives strongly opposed the bill.
---

So, essentially all of the Republicans voted for it, while a minority of Democrats voted for it. Sounds like the Democrats as a whole are on the right side.

But yes, there are Democrats in the pocket of Wall Street. I don't need to look it up to know which way the two senators from Delaware voted.

 

[Oddball]

From wiki
---
In the House, the bill passed by a 258-19 vote with support from all but one Republican (the exception being Walter B. Jones Jr.) and 33 out of 193 Democrats. In the Senate, the bill passed by a 67-31 vote with support from all Republicans and 17 out of 47 Democrats. Within the Democratic caucuses, progressives strongly opposed the bill.
---

So, essentially all of the Republicans voted for it, while a minority of Democrats voted for it. Sounds like the Democrats as a whole are on the right side.

But yes, there are Democrats in the pocket of Wall Street. I don't need to look it up to know which way the two senators from Delaware voted.

 

[kyzr]

CA SVB Bank collapsed on Biden's watch. Most other banks are fine. So why is there a bailout?

 

[j-mac]

Maxine isn’t going to do shit….

What they should hold hearings on is how Joe can say that ALL the banks customers are protected regardless of deposits…

Did I miss the day where the POTUS can promise money without congressional approval?

 

[Dadoalex]

CA SVB Bank collapse on Biden's watch. Most other banks are fine. So why is there a bailout?

There is no bailout.
Investors lose all money
Unsecured creditors will lose most of their money
Management fired
Bank taken over by another bank
Depositors money protected by FDIC,
ZERO tax dollars.

 

[Dont Taz Me Bro]

But yes, there are Democrats in the pocket of Wall Street

Just about all of them are. The only one who seems to walk her talk is Elizabeth Warren.

 

[Dadoalex]

From wiki
---
In the House, the bill passed by a 258-19 vote with support from all but one Republican (the exception being Walter B. Jones Jr.) and 33 out of 193 Democrats. In the Senate, the bill passed by a 67-31 vote with support from all Republicans and 17 out of 47 Democrats. Within the Democratic caucuses, progressives strongly opposed the bill.
---

So, essentially all of the Republicans voted for it, while a minority of Democrats voted for it. Sounds like the Democrats as a whole are on the right side.

But yes, there are Democrats in the pocket of Wall Street. I don't need to look it up to know which way the two senators from Delaware voted.

Here we are again.
Reps blame the Dems
Dems blame the Reps

But the people who did the damage...they walk.

We need to start blaming the people responsible rather than kicking one another in the jujubes

 

[mamooth]

Check it out. Arch-tard Oddball is actually telling us that wikipedia lied about a congressional vote. Like most Trump cult losers, his butthurt has effectively lobotomized him.

Meanwhile, those afflicted with raging bothsiderism are claiming that since all the Republicans and a third of the Democrats did a bad thing, it means the Democrats are just as bad.

Bothsiderists , would it kill you to admit to the obvious truth and say that the Democrats are much better then the Republicans on this issue?

 

[Dont Taz Me Bro]

There is no bailout.
Investors lose all money
Unsecured creditors will lose most of their money
Management fired
Bank taken over by another bank
Depositors money protected by FDIC,
ZERO tax dollars.

False. There is a bailout, just not with taxpayer money, allegedly. They are not limiting losses to the $250k insurance limit.

GURA: Well, most of the deposits at Silicon Valley Bank, about 90% of them, were not insured by the FDIC. They were too big. The FDIC only guarantees deposits up to $250,000. So what regulators have done here is they've created a backstop so that every deposit at that failed bank is protected, and they're using an existing insurance fund, one the banks pay fees into. So officials say this is not happening at taxpayer expense. I'll add, customers at another failed bank are in the same boat. We learned last night New York regulators closed Signature Bank, and the administration says its customers will also be able to get their money back. There'd been a lot of concern customers would not be able to pay rent or make payroll. So with this emergency action, that should not be an issue.



This is yet another bailout of millionaires and billion dollar companies and so once again, nobody will learn from their errors.

 

[kyzr]

There is no bailout.
Investors lose all money
Unsecured creditors will lose most of their money
Management fired
Bank taken over by another bank
Depositors money protected by FDIC,
ZERO tax dollars.

I think you missed on a few of those.
1. No bailout? All depositors, insured and uninsured are being made whole. That is a bailout.
2. Investors lose money, true. Bankers sold everything 2-weeks ago. Clawback coming.
3. Zero tax dollars? I call bullshit. The Fed will cover as needed.

 

[Foolardi]

with both parties AWOL, The Fed can get tougher on regulating banks, though it's not mandated to, but it should!

Barney Frank finally surfaced to knock down the parsed
words of Biden AGAIN placing some blame on the current
SVB debacle.Frank said whatever became of SVB had nothing
to do with his hand in Dodd/Frank.
Biden as is an auto-immune Obama responce shifts blame
in some measure to the previous Adm.Or Trump.

 

[Dadoalex]

False. There is a bailout, just not with taxpayer money, allegedly. They are not limiting losses to the $250k insurance limit.

GURA: Well, most of the deposits at Silicon Valley Bank, about 90% of them, were not insured by the FDIC. They were too big. The FDIC only guarantees deposits up to $250,000. So what regulators have done here is they've created a backstop so that every deposit at that failed bank is protected, and they're using an existing insurance fund, one the banks pay fees into. So officials say this is not happening at taxpayer expense. I'll add, customers at another failed bank are in the same boat. We learned last night New York regulators closed Signature Bank, and the administration says its customers will also be able to get their money back. There'd been a lot of concern customers would not be able to pay rent or make payroll. So with this emergency action, that should not be an issue.



This is yet another bailout of millionaires and billion dollar companies and so once again, nobody will learn from their errors.

Sigh...
Your house burns down.
Is the insurance a "bailout?"

I remember when "bailout" referred to investors and management not depositors.

 

[Dadoalex]

x

 

[Dadoalex]

I think you missed on a few of those.
1. No bailout? All depositors, insured and uninsured are being made whole. That is a bailout.
2. Investors lose money, true. Bankers sold everything 2-weeks ago. Clawback coming.
3. Zero tax dollars? I call bullshit. The Fed will cover as needed.

I remember when "bailout" referred to investors and management not depositors.

 

[Foolardi]

with both parties AWOL, The Fed can get tougher on regulating banks, though it's not mandated to, but it should!

Oh Boy. Two truly incredibly reliable California shysters.
More than merely part of the reason California went from
being the Apple of the United States with many Republicans
from Richard Nixon { from Whittier ,Calif } who J.F.K.
considered " a two bit Grocer " to Ronald Reagan as
the " Great Comminicator " Both Great Americans have Libraries
to prove their Competence and ruling manner.
As it stands right now,California is Lost.
Don't even bother to Listen to Great men like Al Jolson.
Who has a huge resting Monument in Hillside Memorial Park.
His was the virtual inspiration for celebrating California.
Nothing finer than :
California,Here I Come { 1924 {