We The People. Are. Screwed! One controversial provision in the spending bill weakens the Dodd-Frank Acts restrictions on banks that want to trade in the same sorts of risky derivatives that sparked the financial meltdown of 2008, and allows the banks to back their bets with taxpayer-backed insurance. The bill also dramatically increases the amounts that wealthy donors can give to the major political parties. Some Democrats have said that the two measures together amount to letting wealthy Wall Street employees earn more money, which they can then use to reward lawmakers who backed the spending deal.
Posted on: Sun, 14 Dec 2014 12:56:04 +0000
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