Waters “Increasingly Optimistic” Wall Street Bailout will be Defeated
Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, said today that she is “increasingly optimistic” that her Democratic colleagues will join together to halt a Wall Street-authored provision that repeals important taxpayer protections against reckless bank activity enacted as part of the Dodd-Frank Wall Street Reform Act. The provision was jammed into the must-pass government funding package at the 11th hour.
“I am increasingly optimistic that House Democrats will come together to defeat this effort to protect Wall Street's biggest banks. In a meeting this morning, many of my Democratic colleagues spoke out against this unconscionable effort to cram these harmful provisions into a must-pass spending bill that is essential to keeping the government open. Even members that supported this as a standalone measure expressed concerns about circumventing the Democratic process to ram through such a complex piece of legislation.