REPUBLICAN AGENDA - The Spending Bill

aka "The Art of Screwing American Taxpayers, Again"

"The biggest spending bill trade-offs for Republicans and Democrats" PBS NewsHour 5/1/2017

Excerpt

SUMMARY:  Congress' first bipartisan deal of the Trump era is a massive spending deal that keeps government running through the fall and boosts funding for the Pentagon and Immigration and Customs Enforcement.  But to get needed Democratic votes on board, a number of President Trump's top priorities were cast aside.  Lisa Desjardins joins William Brangham for a closer look.

"Does the spending compromise set Congress up for a bigger fight later?" PBS NewsHour 5/1/2017

Excerpt

SUMMARY:  Congress was able to agree on a compromise deal to avert a government shutdown, but a bigger fight may come in the fall when the current spending bill runs out.  Amy Walter of The Cook Political Report and Tamara Keith of NPR join William Brangham to discuss the spending deal, plus the current state of Republican efforts to repeal and replace Obamacare and President Trump’s 100-day rally.

BANKS - Wall Street Rules

"Is the 2015 spending bill a gift to big banks?" PBS NewsHour 12/18/2014

Excerpt

HARI SREENIVASAN (NewsHour):  Let’s turn to a story about Wall Street and banks that’s angered many.

As one of its final acts last week, Congress passed a spending bill for 2015.  Tucked into it was a provision to loosen banking regulations on hedges or bets known as derivatives or swaps.  These are financial instruments that essentially allow banks to hedge bets on things that rise and fall in value, such as mortgages, currencies and interest rates.

After the financial crisis, the Dodd-Frank Act required big banks like J.P. Morgan to move some of those derivatives, or bets, to other banking units that don’t have a federal backstop or guarantee from the government.

The idea:  No federal guarantee means no bailout.  But the provision passed last week essentially cancels it and says banks don’t have to move those swaps around anymore.

Liberals were outraged.  The most outspoken voice ahead of the Senate vote, Democrat Elizabeth Warren of Massachusetts.

SEN. ELIZABETH WARREN, (D) Massachusetts:  Who do you work for, Wall Street or the American people?  This fight isn’t about conservatives or liberals; it’s not about Democrats or Republicans.  It’s about money, and it’s about power right here in Washington.

This legal change could trigger more taxpayer bailouts and could ultimately threaten our entire economy.  But it will also make a lot of money for Wall Street banks.

HARI SREENIVASAN:  But others, including Republicans and some Democrats, said that fear was overstated.

COMMENT:  Boy, Los Vegas gamblers would love to have this out.  Gamble all they want with their money, but have the American taxpayer cover any losses.  Like I've said in the past, stock exchanges are the world's biggest gambling casinos.

OPINION - Shields and Brooks 12/12/2014

"Shields and Brooks on the CIA interrogation report, spending bill sticking points" PBS NewsHour 12/12/2014

Excerpt

SUMMARY:  Syndicated columnist Mark Shields and New York Times columnist David Brooks join Judy Woodruff to discuss the week’s news, including the $1.1 trillion spending bill to fund the government and the Senate’s investigation of the CIA’s interrogation methods.