#FinReg moves ahead, in part because of the magical powers of bedtime!

Because nothing scares old men like over sleeping and missing the early bird special!

WASHINGTON – The most sweeping new controls on financial institutions since the Great Depression are a big step closer to approval in Congress.

The changes, aimed at preventing a recurrence of the crisis that knocked the nation’s financial system to its knees in 2008, advanced Wednesday when Republicans abandoned their blockade in the Senate. Now, the battle begins over crucial details and that could take at least two weeks. The House has already passed its version. 
Democrats had threatened to hold the Senate in session all night making their case that the Republicans were stalling legislation of importance to virtually every American. The Democrats also have been laying plans to make the legislation a major issue in midterm elections this summer and fall.

The sad part is that the GOP might have shouldered on if Mitch McConnell’s motion to pipe in reruns of “Murder, She Wrote” had passed.

Meanwhile, it looks like more news about Ben Nelson’s ties to Warren Buffett further clarifies his standing with the GOP on the filibuster.  And when I say “clarifies”, I mean makes him look like a shiftless weasel.

But there has been widespread skepticism on Capitol Hill about Nelson’s public explanation for his dissent, and the bill’s sponsor, Sen. Christopher J. Dodd (D-Conn.), added further doubts by saying that Nelson raised concerns about a provision concerning exotic financial instruments called derivatives.
That provision has drawn fire from Berkshire Hathaway, the Omaha-based company of billionaire Warren Buffett, and Nelson’s biggest donor over the past decade. (Buffett is a director of The Washington Post Co.)
Berkshire Hathaway or individuals associated with the company have contributed $75,550 to Nelson’s campaign war chest since 2000, according to records filed through the end of March and analyzed by OpenSecrets.org, a project of the Center for Responsive Politics. One Berkshire company, MidAmerican Energy, also contributed $9,600 to Nelson’s Nebraska Leadership PAC.


Nelson’s most recent financial disclosure form, filed last year, shows that he and his wife owned between $1.5 million and $6 million in Berkshire stock in 2008 — by far Nelson’s largest listed asset.

Once again, we are reminded that skeevie underhanded behavior is indeed a bipartisan trait.


About theragingcelt

Actor/Writer/Homegrown Pundit/Cranky Progressive/Sometimes Filmmaker. talesofthegeeknation.com
This entry was posted in GOP, great depression 2.0, Sen. Ben Nelson, The Senate. Bookmark the permalink.

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