Amazing. Truly. Just how did the provision allowing multi-trillion dollar bets to be made using bank savings accounts (insured by the FDIC) get slipped into the budget bill? Quoting Ana Redelat: [Rep. Jim] Himes [of Greenwich Connecticut] was not responsible for including the derivatives language in the spending bill, but has championed the legislation for years.The original legislation sponsored by Himes was approved as a stand-alone bill in the House last year. . . No one claims to know how the language, promoted by Wall Street lobbyists, was included in the budget bill.
Posted on: Sun, 14 Dec 2014 15:56:51 +0000
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