Discover more from Wonkette
Morning Maddow: Elizabeth Warren Splainers The Budget Bill For Dummies (Video)
It's not especially surprising that in any must-pass bill, some pretty iffy stuff gets shoved in, and in the Spirit of Bipartisanship (also last-minute panic), it even gets passed. The Great Big Keep The Lights On Omnibus Bill currently slouching through Congress has one provision that Wonkette Hero Elizabeth Warren insists will not stand: a provision -- which she says was literally written by Citigroup lobbyists -- to strip out a "no bailouts" rule in the Dodd-Frank financial reform law. If it passes, banks will once again have some of their most risky investment gambles insured by the FDIC. That is, a return to the same old principle of private gain and socialized risk that got us into such a mess in 2008. Warren is against it, Nancy Pelosi is against it, and it could threaten Democratic support for the budget measure. Watch this interview, take a look at Warren's blog post on the provision, and do your part to keep America free by buying a Wonkette Elizabeth Warren coffee mug.
Also too, here's a backgrounder on that provision to weaken Dodd-Frank, as well as some other terrible last-minute additions to the budget and defense bills: