You are here

CLG News

 Your Source for Deep-State Truth

Click here!

Donate to CLG

Subscribe to Syndicate

Democrats drop fee from bank bill to 'secure votes'

Democrats drop fee from bank bill to 'secure votes' --The money would have been used to pay for the costs of the legislation. 29 Jun 2010 Top DemocRATic House and Senate negotiators who worked out a deal on a sweeping overhaul of financial regulations regrouped Tuesday to eliminate a $19 billion fee on banks that had threatened to derail the legislation. Eager to salvage one of President Barack Obama's legislative priorities, lawmakers replaced the bank fee with money generated by ending the $700 billion bank bailout and by increasing bank premiums on deposit insurance. The bill's fate was thrown into doubt this week following the death of Sen. Robert Byrd, D-W.Va., and after Republican Sen. Scott Brown of Massachusetts vowed to abandon his support for the bill if it retained the assessment on large banks and hedge funds. [Right, the little maggot wants taxpayers to pay instead of his banking/Wall Street overlords.]