Sens. Elizabeth Warren and Bernie Sanders are not impressed.
And they were not alone Tuesday as outrage and disgust erupted among consumer watchdogs and progressives after Sen. Angus King (I-Maine) and sixteen Democrats joined with 50 Republicans in the U.S. Senate to advance a bill that critics say is just another handout for Wall Street banks—one that also sets the stage for the next major financial meltdown.
With a vote of 67-32, including the 17 Democrats who voted yes, a “motion to proceed” received enough support to send the ‘Bank Lobbyist Act’—technically the Economic Growth, Regulatory Relief, and Consumer Protection Act, or S. 2155—to the floor for debate, possible amendments, and then a final vote later this week or next.
Kurt Walters, campaign director at Demand Progress’s grassroots anti-corruption wing Rootstrikers, said those 17 members of the Democratic caucus who voted to advance the bill in the Senate have simply no defense.
“Voters have seen this movie before. It didn’t work out in 2008 and it’s no wiser today. There is simply no excuse for a Democrat to add their name to Wall Street deregulation,” Walters said following the vote. Identifying members who voted in favor as “the Bailout Caucus,” he said those lawmakers have now sent a very clear message: “I work for my bank donors, not my constituents.”
Sen. Bernie Sanders (I-Vt.), who like Sen. King caucuses with the Democrats, also appeared to have a had a hard time understanding those who supported the bill:
At a time of massive concentration of ownership in the financial sector, now is not the time to deregulate banks that have more than $3.5 trillion in assets and lay the groundwork for another massive financial collapse.
It looks like corporatists all around in CA. No wonder CA is slowly moving backwards. HALL OF SHAME – 16 Democratic Legislators in progressive Districts voting as Republicans – voting so bad they got F’s The Hall of Shame includes the state legislators most out of step with their constituents, and most closely aligned with corporate and special interests that exploit Californians. To make the list, a legislator needs to have a Courage Score of 59 or lower — resulting in a grade of “ F ” — and represent a district which clearly supports more progressive policies than the legislator. …Continue reading →
Bernie: Party platform still needs work Bernie Sanders, U.S. senator from Vermont JULY 3, 2016 The Democratic Party platform drafted in St. Louis is an excellent start in bringing forth policies that will help end the 40-year decline of the American middle class. These initiatives, if implemented, will create millions of good-paying jobs, significantly improve health care, and reverse the dangerous trend in this country toward an oligarchic form of society. But, let us be clear, this is a document that needs to be significantly improved by the full Platform Committee meeting in Orlando on July 8 and 9. Here are …Continue reading →
A Bernie Platform Committee member has posted on redditt a summary of last night’s conference call with Bernie and team regarding the plan to get our amendments included in the Democratic party platform. It’s an excellent summary, so I am posting it in its entirety below. Bottom line: Whatever we cannot get included in the platform in Orlando, will go into a Minority Report. This report will be automatically voted on at our televised, national convention on the convention floor. **Platform UPDATE:** The platform committee members for Bernie had it’s first conf call last night. And Bernie opened up the …Continue reading →
TELL THE DNC PLATFORM COMMITTEE Strongly Oppose the TPP in the Party Platform The Democratic Platform includes a number of very important initiatives that we have been fighting to achieve during this campaign. But one big item is missing: preventing the disastrous Trans-Pacific Partnership trade deal from ever coming up for a vote in Congress. Bernie Sanders opposes this deal, and Secretary Clinton said that she opposes the deal too. So does virtually every labor union, environmental group, and even major religious groups. The Democratic Party must go on record in opposition to holding a vote on the TPP during …Continue reading →
Bernie Sanders: Democrats Need to Wake Up By BERNIE SANDERS JUNE 28, 2016 Surprise, surprise. Workers in Britain, many of whom have seen a decline in their standard of living while the very rich in their country have become much richer, have turned their backs on the European Union and a globalized economy that is failing them and their children. And it’s not just the British who are suffering. That increasingly globalized economy, established and maintained by the world’s economic elite, is failing people everywhere. Incredibly, the wealthiest 62 people on this planet own as much wealth as the bottom …Continue reading →
UPDATE: Bernie has issued a Press Statement outlining his plan to garner support to Stop a vote on TPP: Sanders Calls for Democratic Party to Oppose Trade Deal BURLINGTON, Vt. – U.S. Sen. Bernie Sanders on Monday urged Democratic Party platform writers to take a stand against the Trans-Pacific Partnership, a proposed 12-nation trade pact that he said would have “disastrous” consequences for U.S. workers and the environment. “The Democratic Party must go on record in opposition to holding a vote on the trade deal during the lame duck session of Congress and beyond,” Sanders said. “This is about preventing …Continue reading →