Last Call on Financial Reform!

by Mary Bottari — June 23, 2010 - 2:58pm
  • Topics: Banking, BanksterUSA, Democracy, Real Economy Project
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    Last call on financial reformToday, U.S. Senator Blanche Lincoln (D-Arkansas) was dragged into a meeting with Senate Majority Leader Harry Reid (D-Nevada), Senate Banking Chairman Chris Dodd (D-Conn.), Speaker Nancy Pelosi (D-Calif.) and House Financial Services Chairman Barney Frank (D-Massachusetts). It was a pile-on to ask her to agree to weaken her strong derivatives reforms to accommodate Wall Street. Lincoln made it clear she was not pleased with the pressure. "There are some that are not as interested in being as aggressive in making sure that the possibilities of this financial crisis don’t happen again,” the Arkansas Democrat told Roll Call after the meeting. The issue of derivatives will be taken up tomorrow in the House-Senate Conference Committee which is pounding out the difference between the two bills. Will they adopt the Senate version (which covers 90% of derivatives, with a narrow exemption for legitimate end-users like municipal gas companies) or the House version (which is riddled with loopholes and covers only 60% of derivatives trading)?

    If you have time tomorrow morning for one last call, consider calling one of the Big Four in House and Senate leadership. Tell them nothing less that the Lincoln derivatives language (Sec. 716) will do! See the phone numbers below and if you would like to learn more please visit BanksterUSA today!

    1. Speaker of the House, Nancy Pelosi, (202) 225-0100
    2. Senator Majority Leader, Harry Reid (202) 224-3542
    3. Rep. Barney Frank, (202) 225-5931
    4. Senator Chris Dodd (202) 224-2823

    Also, tell Senator Lincoln to hang tough: (202) 224-4843

    Tell Senator Collins to stand by Lincoln: (202) 224-2523

    Tell Senator Snowe to stand by Lincoln: (202) 224-5344

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    The more the American people

    Submitted by Don Allen (not verified) on June 24, 2010 - 12:37pm.

    The more the American people want reform, especially in the financial sector which nearly bankrupted this country, the more corrupt politicians succumb to the big money of Wall Street and reject reform. Something is wrong with this picture.

    Financial Reform should have

    Submitted by probate orange county (not verified) on June 24, 2010 - 6:08am.

    Financial Reform should have been done a long time ago, but it is never too late to act now.

    mandatory!

    Submitted by mat (not verified) on June 23, 2010 - 3:21pm.

    There is no doubt anymore. Financial reform is mandatory. I just hope it wouldn't affect peoples lives as much as the current financial crisis does.