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Thu Jul 17, 2014, 10:16 AM

Chris Dodd Warns Of Coalition Between Populist Democrats And Republicans....

WTH is this??

The rise of anti-corporate conservatives is a significant threat to the American banking establishment, according to former Sen. Chris Dodd (D-Conn.), who warned a gathering of Beltway centrists on Tuesday about a potentially formidable coalition between hard-line banking critics in both parties.

"'Crony capitalism' is not a word just used by the left anymore. There's a new right emerging in the country which is as hostile, in my view, to financial services, as many on the left have been over the years," Dodd told an audience at a Bipartisan Policy Center event Tuesday.

The forum was focused on ways to improve the Dodd-Frank Act, the sweeping 2010 financial reform law that Dodd co-authored with former Rep. Barney Frank (D-Mass.). Reopening the law for tweaks and adjustments, Dodd said, could open a "Pandora's box" that "could produce some very, very different results politically than I think people assume might be the case."

Dodd didn't specify what those different results might be, but there are only so many ways that hardcore conservatives and true-blue Democrats can team up while still being, to use Dodd's word, "hostile" to banking. On the Senate Banking Committee, Sens. Sherrod Brown (D-Ohio) and David Vitter (R-La.) have proposed legislation to break up the nation's largest banks.

Later in the speech, Dodd argued that the 2010 financial reform law had in fact ended the "too big to fail" banking phenomenon, which, if true, would obviate any need to break them up.

"Despite what critics claim about them being larger than ever, the fact is that the banks, knowing that the notion of 'too big to fail' is a thing of the past, have slowed their growth," Dodd said.

http://www.huffingtonpost.com/2014/07/16/chris-dodd-warns-of-coali_n_5592503.html?cps=gravity

9 replies, 977 views

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Reply Chris Dodd Warns Of Coalition Between Populist Democrats And Republicans.... (Original post)
a kennedy Jul 2014 OP
alsame Jul 2014 #1
Eric J in MN Jul 2014 #2
Warren Stupidity Jul 2014 #3
woo me with science Jul 2014 #4
Doctor_J Jul 2014 #5
woo me with science Jul 2014 #6
winter is coming Jul 2014 #7
woo me with science Jul 2014 #8
edhopper Jul 2014 #9

Response to a kennedy (Original post)

Thu Jul 17, 2014, 10:31 AM

1. In other words, keep the

peasants fighting about other stuff because they may band together when they realize they're all being screwed by the system.

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Response to a kennedy (Original post)

Thu Jul 17, 2014, 10:53 AM

2. Lack of logic in Chris Dodd statement

"Despite what critics claim about them being larger than ever, the fact is that the banks, knowing that the notion of 'too big to fail' is a thing of the past, have slowed their growth," Dodd said.

The biggest banks are bigger than ever, regardless of the growth rate.

It's unclear what time period Dodd is referring to regarding the growth-rate, making the statement impossible to prove or disprove.

Elizabeth Warren:
"You know, you talked about during the financial crisis we were told these banks are too big to fail. Today, the five largest financial institutions are 38 percent bigger than they were back in 2008, when they were too big to fail."

http://www.politifact.com/truth-o-meter/statements/2014/may/22/elizabeth-warren/elizabeth-warren-says-top-five-banks-are-38-percen/

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Response to a kennedy (Original post)

Thu Jul 17, 2014, 10:58 AM

3. Chris Dodd, ($-Conn).

 

the 2010 financial reform law, Chris, was a learning lesson in Kleptocratic Duopoly politics.

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Response to a kennedy (Original post)

Thu Jul 17, 2014, 10:58 AM

4. "Warns" of it? We should be celebrating it.

It's about damned time that we break the partisan con game that keeps us from uniting to end this corruption.

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Response to a kennedy (Original post)

Thu Jul 17, 2014, 11:01 AM

5. same day hil pinch hits for smirk at banksters convention

 

Who's collaborating with the republicans?

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Response to Doctor_J (Reply #5)

Thu Jul 17, 2014, 11:07 AM

6. +10000000 No kidding!

Sheesh.

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Response to a kennedy (Original post)

Thu Jul 17, 2014, 11:25 AM

7. So... we're supposed to shy away from banking reform because some Republicans might support it?

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Response to winter is coming (Reply #7)

Thu Jul 17, 2014, 02:22 PM

8. Apparently that's the take-home message,

which shows how corrupt and manipulative these Third Way vultures really are.

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Response to a kennedy (Original post)

Thu Jul 17, 2014, 02:23 PM

9. Cheney told the wrong senator

to go fuck himself.

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