Tucked away in the Spending Bill

"Meet Congressman Kevin Yoder (R-Kansas).

Yoder, a second-term congressman whose largest contributors are in the finance industry, introduced the provision last summer. It was literally written by Citigroup executives, but Yoder took their language and rolled it into an amendment to a spending bill in a House subcommittee meeting.

The provision....undoes a rule that prevents big banks from relying on the Federal Deposit Insurance Corp. to bail them out if things go sour when they trade risky assets. The rule was put into place as part of the 2010 Dodd-Frank law, which overhauled the financial regulatory system after the 2007-2008 financial crisis stemming from banks making extremely risky bets and losing."

Ah yes, Republicans the party of the (Rich) people.

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The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness -
John Kenneth Galbraith

Yodes doing a solid for Citigroup! 

US taxpayers are now on the hook for a few trillion when these guys crash it again.

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I was right.

How could this see the light of day in a democratic controlled house? The main backer of the bill is notorious Wall Street lackey Jim Himes (D-Conn.), a former Goldman Sachs employee who has discovered lobbyist payoffs can be just as lucrative as a career in financial services.
http://www.zerohedge.com/news/...axpayers-are-now-hook

1.   Elections- When do Newly Elected Officials Assume Office?>>

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U.S. Senator, Noon on the 3rd day of January (US Constitution, Amendment ... School Districts, First official board meeting following election certification (RCW 28A.343.360). All unexpired term positions take office upon election certification.>>

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This is the LAME DUCK Democrat senate that passed this spending bill....>>

The Republicans haven't taken office yet...>>

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The FACT remains it was a REPUGNICAN who stuffed the legislation in the spending bill. Just keep making excuses, that's what Repugnicans do so well. Yeah, let's just re-instate what sent us down the recession path before, it makes our big campaign contributors rich.

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The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness -
John Kenneth Galbraith

Hats off to Elizabeth Warren for denouncing this.

eeerrrrr .... no.



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"Most people would die sooner than think; in fact, they do." - Bertrand Russell


"Morality is doing what is right, regardless of what you are told. Religion is doing what you are told, regardless of what is right.


If I do not answer you .... nothing personal, I just have you on ignore.

The point is the fact that republicans went apeshit over Obama's stimulus, yet cheerfully voted to have it happen all over again.

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I was right.