SIGN THIS PETITION! Wall Street is trying to get derivatives covered by the Wall Street lobbyists are trying to sneak a provision into the government funding bill currently working its way through Congress that would require taxpayers to insure the Big Banks’ riskiest activity. A key feature of the landmark Dodd-Frank Wall Street reform law, which Public Citizen activists like you were instrumental in getting passed, required banks to keep derivatives separate from traditional banking services that are covered by the taxpayer-funded Federal Deposit Insurance Corporation (FDIC). But now, the Big Banks are quietly attaching a “rider” to the upcoming federal spending bill — which must pass to avoid another partisan government shutdown — that would let them go back to gambling with our entire economy while expecting us to bail them out if (more likely when) their greed again turns calamitous.
Posted on: Sat, 06 Dec 2014 16:31:19 +0000
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