Brown-Vitter Bill To Break Up Too Big To Fail Banks Begins Roll Out

By: Tuesday April 9, 2013 5:59 am

Believe it or not, there is a bill in Washington to break up the Too Big To Fail banks. Sponsored by Senator Sherrod Brown (D-Ohio) and Senator David Vitter (R-Louisiana)  the Brown-Vitter bill would break up the Megabanks by requiring higher capital reserves. Not surprisingly Wall Street is not pleased. Financial Services Forum CEO Rob [...]

Sherrod Brown, David Vitter Team Up to Press Federal Reserve About Capital Requirements

By: Wednesday August 8, 2012 12:25 pm

On financial regulatory issues, Republicans have recently retreated back to the idea that all we need to do is to ensure adequate capital requirements at the largest banks. If they can handle anything that comes across with their own reserves, then taxpayer money is secure and the free market can sort out everything else. There’s [...]

Senate Democrats Charging Forward on BP Liability, Join President’s Call for Escrow Account

By: Monday June 14, 2010 7:53 am

Practically the entire Senate Democratic caucus has written a letter to BP CEO Tony Hayward, asking the company to create the same kind of $20 billion dollar escrow account that the President will reprortedly seek to pay for economic damages and clean-up costs associated with the Gulf oil spill. The letter was signed by 55 [...]

Vitter Fronting for BP, Oil Industry

By: Friday June 4, 2010 10:11 am

The idea that David Vitter can say with a straight face that he supports legislation to “remove” the liability cap for BP’s oil spill, and hold them accountable, only makes sense on the surface. You have to ignore a host of past experience, as well as the flawed legislation he’s actually pushing, to arrive at [...]

Reid Wants To Move Climate Bill In July, Attach Liability Cap Removal To It

By: Thursday June 3, 2010 12:57 pm

Above, you see David Vitter claiming to support “removing” the liability cap for the BP oil spill, even sponsoring the legislation and trying to push it to the floor, before it was “objected to from the other side.” Vitter is talking about his legislation that would allow for the cap to rise to an indeterminate [...]

Dueling Objections on Oil Spill Legislation

By: Tuesday May 25, 2010 12:14 pm

Both Robert Menendez and David Vitter offered legislation on the Senate floor to alter the liability cap on oil companies who damage American land through spills, but both were denied unanimous consent, as members of the opposite party objected. Menendez changed his bill, from a raising of the liability cap to $10 billion to a [...]

Voting Begins on Sanders’ Audit The Fed Compromise Amendment

By: Tuesday May 11, 2010 8:45 am

The clerk has begun to call the roll on Bernie Sanders’ amendment calling for a one-time audit of the Federal Reserve’s emergency lending activities during the recent financial crisis. Given the trans-ideological group of Senators who expressed support during today’s debate – including not only the expected trans-partisan alliance of Sanders and DeMint and Vitter [...]

Vitter: Don’t Bother Those Nice BP Executives While They Coat The Louisiana Coast, ‘Kay?

By: Tuesday May 4, 2010 6:57 am

Pretty much everything David Vitter says as a United States Senator, after what we know about him, takes chutzpah. But this comment is even more galling than most: Louisiana Sen. David Vitter (R) Monday requested that a Senate committee not immediately hold a hearing on a massive oil spill threatening the coastline of his state. [...]

Dems Vote For Viagra For Sex Offenders and Other Stories

By: Wednesday March 24, 2010 7:21 am

Republicans have something of a free shot in the reconciliation bill. Democrats have already signaled that they will whip against any amendments and changes to the bill, in an effort to pass it intact and send it directly to the President, avoiding another vote in the House. So Republicans can write virtually any amendment, forcing [...]

Separating “Cost Control” From Cost Control

By: Wednesday December 9, 2009 12:50 pm

Yesterday a group of freshman Senators unveiled a cost-control package of amendments designed to allay fears that the cost control in the Senate health care bill had been gutted. Economists whose support the White House coveted have grown more wary of the bill because of a de-fanging of the Independent Medicare Advisory Board, which would [...]

The Bernanke Holds: Four (Five?) Definite Ones

By: Friday December 4, 2009 7:01 am

I just wanted to update where we’re at with the various holds on Ben Bernanke’s reappointment to the Federal Reserve Chairmanship. As I reported yesterday, Bernie Sanders, Jim Bunning and Jim DeMint have all signaled that they would put a hold on the nomination. Here’s DeMint’s full statement. Here’s the key point – DeMint is [...]

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