The Democrat from Massachusetts is saying that
House Republicans were threatening to shut down the government if they didn’t get a chance to repeal part of the 2010 Dodd-Frank law.
What Warren objects to is a provision in the proposed House funding bill—which funds the entire government, mind you—that would “undo the Dodd-Frank provision that prohibited bank units within the federal financial safety net from betting on derivatives.” This is critical because only Progressives like Warren know how to run a bank, or any other private enterprise. We’re seeing today how well government-run (VA) hospital businesses are doing, how well government-directed medical practices are working out, how well government-mandated health coverage plan businesses are doing.
Americans for Financial Reform Executive Director Lisa Donner added this:
The section of Dodd-Frank that Congress is proposing to repeal was put in place to help prevent future bailouts of too-big-to-fail banks[.]
While carefully eliding the fact that other sections of Dodd-Frank guarantee taxpayer bailouts of too-big-to-fail banks by declaring them systemically important and so subject to government seizure and “correction” outside bankruptcy law.
Finally, the only ones talking about shutting down the government are the Democrats.
The Gruber virus is spreading rapidly. This would be amusing if it weren’t so tragic.