Actually, 95 Democrats supported a very similar bill as recently as September. Both bills were 11-point packages chipping away at the 2010 Dodd-Frank financial reform law. The most serious attack of the bunch came in the form of a partial two-year delay of the Volcker Rule, which would ban banks from speculating in securities markets with taxpayer money. The bill would have allowed Citigroup and JPMorgan Chase to hold onto almost $50 billion in risky corporate debt packages known as collateralized loan obligations through 2019. Since that perk wasnt included in the September version of the bill, the alleged flip-floppers can make a case that this time around, things just went too far.
Posted on: Sun, 11 Jan 2015 08:19:38 +0000