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Do you agree with President Obama and Republicans that Taxpayers should pay for Wall Street Banks losses betting on Derivatives?
House Vote: https://www.govtrack.us/congress/votes/113-2014/h5...
Obama is pressing Senate Democrats to pass the $1.1 Trillion Budget which includes this amendment written by Citibank
Frank. "Nor does Obama agree with this." You have not been paying attention. Obama is pursuing Fast Track for the newest "Free Trade" giveaway to Corporations the TPP, has appointed Wall Street Executives that favored deregulation and offshoring tax obligations to run the Treasury. He has pushed Democrats to pass the Budget Bill with the Derivative amendment.
12 Answers
- ?Lv 76 years ago
No. I don't agree with this. Nor does President Obama agree with this. Tactically, he believes it is the best government funding bill we can get and that it will be even worse when Republicans take over Congress. I disagree with him in that I believe that, if the House had defeated the bill outright, the Republicans would have removed this poison pill to get the bill passed. But, that is a difference in tactics not a difference in principle..
- Anonymous6 years ago
I tried to read through that section of the Dodd Frank "push through" clause and I didn't understand it.
Could you explain what it is and how repealing it would increase the taxpayer liability.
And what is the difference between a federally insured financial institution trading derrivities verses being involved in derivative trades?
- Anonymous6 years ago
the crisis is over, so no federal money should be sent to Wall Street. What the government has ignored is the irresponsible conduct of the banks and financial houses that led to all this- ignoring obvious signs of the housing bubble and continuing the inflated ratings issued by Moody's and S&P.
- BobLv 76 years ago
And who put it in there. I was wondering how long it would take you fools to start blaming Obama for putting things in the Bill he does not want but has to sign to keep the government going. It's childish to just repeat what some talking head says.
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- tehabwaLv 76 years ago
No, I don't. Obama should never have caved to GOP blackmail to destroy the country, one way or the other, by allowing them to destroy the country slowly, rather than more quickly.
But then, the GOP are determined to destroy the country, so there is little we HUMANS who don't want to murder most citizens, can do.
If anyone in the GOP, or anyone who votes GOP were HUMAN, we wouldn't face these questions of murdering us sooner or later.
- Anonymous6 years ago
NO. and it was under President Bush (43) that this idiocy occurred. Get your facts straight.
- Anonymous6 years ago
No that's a terrible policy.
- Anonymous6 years ago
no, but all spending comes from the GOP house, so I guess it doesn't matter what I think
- 6 years ago
Nope, I doubt that either actually came out and said it.