In the dead of night last night, the movement to hold big banks accountable for their crimes took two major hits. Occupy Wall Street activists were swept from Zuccotti Park as radical members of Congress moved to gut funding for the Commodity Futures Trading Commission (CFTC) and advance a series of shocking proposals to roll back financial reform.
huffingtonpost.com — Ultimately, given the make-up of the Senate and the requirement of 60 votes, this was the best bill that could pass. For those who wish the bill was stronger, let there be no confusion about where the blame lies. It is because almost every Senator on the other side of the aisle did everything they could to stall, delay and oppose Wall Street reform.
Wall Street reform passed Congress today, with three Republicans voting "yes," among them Scott Brown of Massachusetts. But Brown's vote came with a high price tag: he insisted on both hammering ordinary citizens with new taxes, instead of imposing them on the financial behemoths that jeopardize our economic stability. more »
Good news: The Senate just secured 60 votes to proceed on Wall Street reform, clearing the way for the legislation's final passage today or Saturday. more »
Members of Congress finished ironing out their differences on Wall Street reform last night, and the resulting bill deserves unequivocal support from progressives and conservatives alike. But while the final package is a necessary first step to overhauling the nation's out-of-control financial sector, it will do very little to change the destructive status quo on Wall Street. more »
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