Saturday, December 13, 2014

Elizabeth Warren on Omnibus Bill: "Who Does Congress Work For?"

On the Senate floor, Sen. Elizabeth Warren (D-MA) railed against the Omnibus spending bill's repeal of Section 716 of the Dodd-Frank financial regulations of 2010. She asked, "Who does Congress work for? Does it work for the millionaires, the billionaires, the giant companies with their armies of lobbyists and lawyers, or does it work for all the people?" She condemned the repeal that would permit "derivatives traders on Wall Street [to] gamble with taxpayer money and get bailed out by the government when their risky bets threaten to blow up our financial system." Warren pointed out that the same banks that crashed the economy and were bailed out in 2008 favor the repeal. She criticized the Republicans who threatened another government shutdown unless it was passed, as well as the former members of Congress who are now lobbyists for big banks that spend big bucks to scuttle financial regulations. Warren concluded, "This is a democracy, and the American people didn't elect us to stand up for Citigroup. They elected us to stand up for all the people." Watch:

2 comments:

Michael J. Mand said...

Congress works hardest for those who can best assure re-election.

Jeff Tone said...

That is the definition of corruption.