The ‘CROmnibus’ Is The Real Torture Report
The provision that’s getting the most attention today, though, is a rollback of Dodd-Frank that would allow banks to put federally insured deposits at indirect risk. Barney Frank explained it in detail on the All In last night, but basically, there was already a rule that prevented banks from gambling with FDIC-insured deposits, but Dodd-Frank added a rule that said banks had to set up a whole other company to do their gambling, reasoning that risky derivatives could still sink a company with FDIC-insured deposits even if those deposits were not used in the trades. That’s the rule that the CROmnibus (not to be confused with the Romneybus, a luxury party bus that plays the chorus of “Who Let The Dogs Out” on a loop and always gets there just behind another bus) aims to repeal, and Sen. Elizabeth Warren (D-MA) is pissed about that. She took to the Senate floor yesterday to ask the age-old question, “Who does Number Two Work For?”…READ MORE
Copyright 2014 Liberaland
By: Tommy Christopher
Tommy Christopher is The Daily Banter's White House Correspondent and Political Analyst. He's been a political reporter and liberal commentator since 2007, and has covered the White House since the beginning of the Obama administration, first for PoliticsDaily, and then for Mediaite. Christopher is a frequent guest on a variety of television, radio, and online programs, and was the villain in the documentaries The Audacity of Democracy and Hating Breitbart. He's also That Guy Who Live-Tweeted His Own Heart Attack, and the only person to have ever received public apologies from both Rush Limbaugh and Glenn Beck.
tracey marie December 11th, 2014 at 13:02
And the fun begins…the goptp starts now to destroy the environment, safety nets, education and the economic stability that the President has stabilized in spite of them
R.J. Carter December 11th, 2014 at 13:40
And we ain’t even in office yet! :-)
tracey marie December 11th, 2014 at 13:43
I will believe you are not teabagg but conservative until you prove my belief wrong
William December 11th, 2014 at 14:01
the goptp starts now to destroy the environment….
Oh come now, what would possibly motivate the right honorable Boener to purposely risk the water supply of the American heartland for oil that’s owned by Canada and bound for the world market.. I mean..what? really?
Nevermind.
http://www.politicususa.com/2012/01/22/john-boehner-keystone-xl.html
tracey marie December 11th, 2014 at 14:05
The new deal has cuts to the EPA to levels so low it renders them incapable of doing anything
edmeyer_able December 11th, 2014 at 16:09
I’ve already asked Gillabrand and Schumer to vote no or strip the the provisions on dark money, IRS and EPA funding as well as giving Wall St the right to screw us again.
Wayout December 11th, 2014 at 16:38
Really? Wow, then that is a part of the bill I could support. But come on, the Republican Speaker is negotiating with the Democrats instead of the conservative side of his own party. There should be no Omnibus bill, just a continuing resolution until next year.
tracey marie December 11th, 2014 at 17:16
rotflmao…I know you love to chew the air and water, but sane and intelligent people do not. The rider was attached at the end.
edmeyer_able December 11th, 2014 at 17:40
Republicans abhor socialism but are totally fine with SOCIALIZING the environmental costs brought by industrial pollution.
OldLefty December 11th, 2014 at 19:04
Really? Wow, then that is a part of the bill I could support.
__________
Why?
Do you know what they are?
The main sticking point is deregulating the derivatives trading and eliminate a requirement under the Dodd-Frank financial reform law that banks trade financial derivatives separately from regular bank accounts, which are protected through the FDIC.
In other words, we would have go go back to bailing them out.
fahvel December 11th, 2014 at 20:58
c’mon, dipsht wahoo has no fn idea what he is ever talking about. Any response to a low brow like him should be vulgar and mean.
tracey marie December 11th, 2014 at 14:02
And the fun begins…the goptp starts now to destroy the environment, safety nets, education and the economic stability that the President has stabilized in spite of them
R.J. Carter December 11th, 2014 at 14:40
And we ain’t even in office yet! :-)
tracey marie December 11th, 2014 at 14:43
I will believe you are not teabagg but conservative until you prove my belief wrong
William December 11th, 2014 at 15:01
the goptp starts now to destroy the environment….
Oh come now, what would possibly motivate the right honorable Boener to purposely risk the water supply of the American heartland for oil that’s owned by Canada and bound for the world market.. I mean..what? really?
Nevermind.
http://www.politicususa.com/2012/01/22/john-boehner-keystone-xl.html
tracey marie December 11th, 2014 at 15:05
The new deal has cuts to the EPA to levels so low it renders them incapable of doing anything
edmeyer_able December 11th, 2014 at 17:09
I’ve already asked Gillabrand and Schumer to vote no or strip the the provisions on dark money, IRS and EPA funding as well as giving Wall St the right to screw us again.
Wayout December 11th, 2014 at 17:38
Really? Wow, then that is a part of the bill I could support. But come on, the Republican Speaker is negotiating with the Democrats instead of the conservative side of his own party. There should be no Omnibus bill, just a continuing resolution until next year.
tracey marie December 11th, 2014 at 18:16
rotflmao…I know you love to chew the air and water, but sane and intelligent people do not. The rider was attached at the end.
edmeyer_able December 11th, 2014 at 18:40
Republicans abhor socialism but are totally fine with SOCIALIZING the environmental costs brought by industrial pollution.
OldLefty December 11th, 2014 at 20:04
Really? Wow, then that is a part of the bill I could support.
__________
Why?
Do you know what they are?
The main sticking point is deregulating the derivatives trading and eliminate a requirement under the Dodd-Frank financial reform law that banks trade financial derivatives separately from regular bank accounts, which are protected through the FDIC.
In other words, we would have go go back to bailing them out.
fahvel December 11th, 2014 at 21:58
c’mon, dipsht wahoo has no fn idea what he is ever talking about. Any response to a low brow like him should be vulgar and mean.
tiredoftea December 11th, 2014 at 13:18
Let’s hope that the shaming that Sen. Warren and former Congressman Frank have put on the Dems will get this shining example of Republican lawmaking changed for the better.
tiredoftea December 11th, 2014 at 14:18
Let’s hope that the shaming that Sen. Warren and former Congressman Frank have put on the Dems will get this shining example of Republican lawmaking changed for the better.
William December 11th, 2014 at 13:51
Why the hell would Boener want to repeal the safeguard that protects the taxpayer from having to shoulder another bailout for corrupt risky wall street crooks.
Oh….right… I forgot.
William December 11th, 2014 at 14:51
Why the hell would Boener want to repeal the safeguard that protects the taxpayer from having to shoulder another bailout for corrupt risky wall street crooks.
Oh….right… I forgot.
Red Eye Robot December 11th, 2014 at 14:17
196 democrats vote to shut down the government
OldLefty December 11th, 2014 at 18:58
No they don’t.
That’s like an abuser saying, “You made me hit you”.
Anomaly 100 December 12th, 2014 at 08:26
^ 5
searambler December 11th, 2014 at 22:18
It’s only OK to “shut down the government” if the GOP does it. Right? Just ask the Cuban Canadian junior senator from Texas…..
Red Eye Robot December 11th, 2014 at 15:17
196 democrats vote to shut down the government
OldLefty December 11th, 2014 at 19:58
No they don’t.
That’s like an abuser saying, “You made me hit you”.
Anomaly 100 December 12th, 2014 at 09:26
^ 5
searambler December 11th, 2014 at 23:18
It’s only OK to “shut down the government” if the GOP does it. Right? Just ask the Cuban Canadian junior senator from Texas…..
R.J. Carter December 11th, 2014 at 15:51
I keep thinking of Conan.
R.J. Carter December 11th, 2014 at 16:51
I keep thinking of Conan.
edmeyer_able December 11th, 2014 at 21:23
Nerdy Wonka @NerdyWonka
Democrats didn’t vote but are mad President Obama has to choose between ‘bad’ or ‘worse’ to avoid a shutdown
Irony just chuckled #CRomnibus
edmeyer_able December 11th, 2014 at 22:23
Nerdy Wonka @NerdyWonka
Democrats didn’t vote but are mad President Obama has to choose between ‘bad’ or ‘worse’ to avoid a shutdown
Irony just chuckled #CRomnibus
greenfloyd December 11th, 2014 at 21:31
What’s going on here? There’s the Dem leadership rejecting it and House Rs unable to whip it, and yet the President says he’ll sign it, warts and all, anyway!? WTWT!? Perhaps a classic cliff-hanger exit and long segue into the 115th season, episode 1: “Blow-up the Economy (again), Stupid.”
House Live as a funeral drudge plays in the background…
floyd[@]greenfloyd.org December 11th, 2014 at 22:31
What’s going on here? There’s the Dem leadership rejecting it and House Rs unable to whip it, and yet the President says he’ll sign it, warts and all, anyway!? WTWT!? Perhaps a classic cliff-hanger exit and long segue into the 115th season, episode 1: “Blow-up the Economy (again), Stupid.”
House Live as a funeral drudge plays in the background…
greenfloyd December 11th, 2014 at 21:44
CROmnibus has passed, with a small margin.
floyd[@]greenfloyd.org December 11th, 2014 at 22:44
CROmnibus has passed, with a small margin.
searambler December 11th, 2014 at 22:26
Expect this crap for the next two years. Every bill written by the GOP will contain riders and amendments and ‘poison pills’ designed to weaken Obamacare, weaken women’s rights, weaken voting rights, weaken civil rights, weaken consumer protections, weaken environmental regulations, weaken checks and balances on Wall Street, weaken our foreign policy initiatives, and/or generally weaken…..America.
Republicans hate democracy and they hate everyone below the one percent.
greenfloyd December 11th, 2014 at 23:10
Well, the “white potato” lobby is happy… Freedom Fries, anyone?
Suzanne McFly December 12th, 2014 at 14:48
It will happen too much starting next year, but why the hell did the dems agree to sign this damn thing?
searambler December 11th, 2014 at 23:26
Expect this crap for the next two years. Every bill written by the GOP will contain riders and amendments and ‘poison pills’ designed to weaken Obamacare, weaken women’s rights, weaken voting rights, weaken civil rights, weaken consumer protections, weaken environmental regulations, weaken checks and balances on Wall Street, weaken our foreign policy initiatives, and/or generally weaken…..America.
Republicans hate democracy and they hate everyone below the one percent.
floyd[@]greenfloyd.org December 12th, 2014 at 00:10
Well, the “white potato” lobby is happy… Freedom Fries, anyone?
Suzanne McFly December 12th, 2014 at 15:48
It will happen too much starting next year, but why the hell did the dems agree to sign this damn thing?
edmeyer_able December 11th, 2014 at 23:10
Boehner has laid the dynamite that will blow up the economy, all that’s left is for the banks to light the fuse. #CRomnibus
Suzanne McFly December 12th, 2014 at 14:46
How long ago is 2008? How could anyone be so stupid to allow this to happen? As if we won’t be hurt again by banks doing the exact same thing it just did 6 years ago.
edmeyer_able December 12th, 2014 at 00:10
Boehner has laid the dynamite that will blow up the economy, all that’s left is for the banks to light the fuse. #CRomnibus
Suzanne McFly December 12th, 2014 at 15:46
How long ago is 2008? How could anyone be so stupid to allow this to happen? As if we won’t be hurt again by banks doing the exact same thing it just did 6 years ago.