Franken, Feingold sign on to big-bank-busting measure, bringing total to 11 Senators

Franken, Feingold sign on to big-bank-busting measure, bringing total to 11 Senators


Okay, I've got more signs for you that Senate liberals may be gaining momentum with their efforts to toughen up financial reg reform.

Senators Al Franken and Russ Feingold have signed on to an amendment to FinReg -- being pushed hard by liberal Senators -- to break up the country's biggest banks by capping their deposits and limiting other liabilities.

That brings the total number of Senators backing this approach -- which is not supported by the White House -- to 11. It's still unclear whether the amendment will get a vote, but the mounting support could up the pressure for one.

Senator Franken's office confirms to me that he's now on board with the proposal. Feingold gave a speech on the Senate floor moments ago coming out in support of it, too.

This approach, which is the handiwork of senators Sherrod Brown and Ted Kaufman, is a serious challenge to Wall Street and represents an ambitious effort to rein in the power of the biggest banks and limit their destructive potential.

more...

http://voices.washingtonpost.com/plum-line/2010/05/franken_feingold_sign_on_to_to.html

How many Representatives signed on to the Public Option? Where did that get us?

I hope my cynicism is off base.

Would not rule out both.

above my head) -- but essentially he's saying that the politicians are too cowardly to admit the enormity of the problem. They want you to think they're fixing the problems (and maybe like they did before, just print more money) so you'll vote for them again.

I just get so disgusted by this crap. It's always about the money and power. Fuck us, it's all about them.