It Isn't Only Republicans Opposing Regulations On Banksters-- Plenty Of Corrupt Blue Dogs & "New Dems" Are Just As Bad

Melissa Bean, a Democrat of convenience-- the stench of corruption

After quite the unseemly kerfuffle from fully-owned bank subsidiary Melissa Bean-- with several of the most anti-working family Blue Dogs in tow (think Walt Minnick, for example)-- late last night the House finally agreed to H Res 956, providing for debate on H.R. 4173 which reform-minded Democrats have designed to "provide for financial regulatory reform, to protect consumers and investors, to enhance Federal understanding of insurance issues, to regulate the over-the-counter derivatives, markets," etc. Bean said she would lead New Dem opposition to the rule (956) if her anti-regulatory, lobbyist-written crap didn't get included. Between a compromise and enough New Dems telling the leadership that she was off her rocker and to ignore her, the vote came and the resolution passed 235-177, only 7 Democrats (a disgruntled progressive and half a dozen GOP-voting Blue Dogs, abandoning the party). [UPDATE: Some reports are circulating that the compromise was a bigger victory for the corrupt New Dems than originally thought.]

So what's driving the bankster-owned ConservaDems into the arms of the Republicans now? Their patrons are hysterical about Elizabeth Warren's Consumer Financial Protection Agency, as well as their usual mania against state laws that are tougher than lax federal regulations. Melissa Bean, one of the only House members in history to have passed the two-million dollar mark in thinly-veiled bribes from Wall Street, is pushing a pre-emption amendment that disallows aggressive state attorneys-general to go after Wall Street banks, regardless of the degree of criminality. It failed in committee but she feels a bankster-greased axis of evil between the GOP, the Blue Dogs and the New Dems can triumph on the House floor. Freshman Walt Minnick (Blue Dog-ID) has, with just half a term under his belt, already scooped up an eye-popping $170,453 in legalistic bribes from Wall Street and is demanding that the CFPA be aborted, something he pushed, unsuccessfully, in committee.





UPDATE: Banksters Get What They Want From A Bipartisan Coalition Of Corrupt Conservatives

The vote on the final bill will be tomorrow but a coalition of Republicans and the worst of the Blue Dogs and New Dems defeated many of the most important regulations in the bill in a series of disastrous floor battles this evening. According to AP "a bipartisan coalition in the House voted late Thursday to make it easier for corporations to engage in complex derivatives trades without government restrictions, eroding the reach of proposed regulations to govern Wall Street. Democratic attempts to toughen the legislation failed."

Tomorrow Minnick and his bankster-owned allies will try again to kill an independent Consumer Finance Protection Agency. Progressives are being encouraged to defeat the overall bill if it is gutted by the conservatives. I might add that defeating Blue Dogs like Walt Minnick should also be a priority. Keep in mind that every dollar you donate to the DCCC goes to prop up unpopular reactionaries like Minnick, Bright, Childers, Shuler, Griffith, etc. Every dollar you give at Bad Dogs goes to defeating them.


UPDATE: Walt Minnick's Amendment To Gut Reform Fails

Republicans and their Blue Dog allies barked up a storm in their froth to kill Elizabeth Warren's Consumer Financial Protection Agency to protect ordinary consumers against financial predators. But to no avail, In the end, progressives won the day and Minnick's horrible amendment failed 208-223. Thirty-three disgraceful excuses for Democrats crossed the aisle, their pockets bulging with bankster bribes, to vote with the Republicans against American families struggling against powerful Wall Street predators. A couple of outliers and all the regular suspects who we've come to expect to vote with the GOP did just that:

John Barrow (Blue Dog-GA)
Marion Berry (Blue Dog-AR)
Sanford Bishop (Blue Dog-GA)
Dan Boren (Blue Dog-OK)
Rick Boucher (VA)
Allen Boyd (Blue Dog-FL)
Bobby Bright (Blue Dog-AL)
Ben Chandler (Blue Dog-KY)
Travis Childers (Blue Dog-MS)
Jim Costa (Blue Dog-CA)
Henry Cuellar (Blue Dog-TX)
Lincoln Davis (Blue Dog-TN)
Parker Griffith (Blue Dog-AL)
Baron Hill (Blue Dog-IN)
Ann Kirkpatrick (AZ)
Frank Kratovil (Blue Dog-MD)
Betsy Markey (CO)
Jim Marshall (Blue Dog-GA)
Eric Massa (NY)
Jim Matheson (Blue Dog-UT)
Mike McIntyre (Blue Dog-NC)
Charlie Melancon (Blue Dog-LA)
Walt Minnick (Blue Dog-ID)
Harry Mitchell (Blue Dog-AZ)
Solomon Ortiz (TX)
Ciro Rodriguez (TX)
Mike Ross (Blue Dog-AR)
Heath Shuler (Blue Dog-NC)
Ike Skelton (MO)
Zack Space (Blue Dog-OH)
Gene Taylor (Blue Dog-MS)
Harry Teague (NM)

In the end the reform bill, somewhat watered down by Wall Street lobbyists and their bought-off shills (the whole GOP and most Blue Dogs), passed 223-202, twenty-four ConservaDems (+ Marcy Kaptur, Eric Massa and Dennis Kucinich who said the bill isn't strong enough) voted with the entire GOP against reform. Looks like Perriello voted against it for the "right" reasons as well. This is a statement his office just issued. The title, "In Break from Party, Perriello Opposes Financial 'Regulation' Bill," is suspicious and makes one wonder if he wants it both ways politically. "This bill doesn't do enough to protect community banks that provide crucial credit to our small businesses, while still allowing loopholes for the biggest players that are large enough to drive the next economic meltdown through. While this started as a genuine effort, once again, both parties allowed the Wall Street-Washington alliance to keep Main Street at risk and out of the game. It’s time for common-sense accountability and a refocus on our Virginia businesses.”