PSA: In 2010, Senate Republicans voted against ending "too big to fail" and taxpayer bailouts

[ProSense]

An original bill to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes.

http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00124

NAYs ---41

Alexander (R-TN)
Barrasso (R-WY)
Brown (R-MA)
Brownback (R-KS)
Bunning (R-KY)
Burr (R-NC)
Chambliss (R-GA)
Coburn (R-OK)
Cochran (R-MS)
Collins (R-ME)
Corker (R-TN)
Cornyn (R-TX)
Crapo (R-ID)
DeMint (R-SC)
Ensign (R-NV)
Enzi (R-WY)
Graham (R-SC)
Grassley (R-IA)
Gregg (R-NH)
Hatch (R-UT)
Hutchison (R-TX)
Inhofe (R-OK)
Isakson (R-GA)
Johanns (R-NE)
Kyl (R-AZ)
LeMieux (R-FL)
Lugar (R-IN)
McCain (R-AZ)
McConnell (R-KY)
Murkowski (R-AK)
Nelson (D-NE)
Reid (D-NV)
Risch (R-ID)
Roberts (R-KS)
Sessions (R-AL)
Shelby (R-AL)
Snowe (R-ME)
Thune (R-SD)
Vitter (R-LA)
Voinovich (R-OH)
Wicker (R-MS)


Remember this if Scott Brown decides to run again.

[RomneyLies]

1. Too big to fail is too big to exist

and yet some "progressives" would paint several in your list as anti-TARP heroes.

It's sickening.

[ProSense]

2. Kick! n/t

[MannyGoldstein]

3. Did "too big to fail" end?

It was fully intact last year, when the Obama admin said they couldn't prosecute HSBC because it was.... too big to fail.

[ProSense]

4. Yes

Section 121 of Dodd-Frank

Public Citizen, a public interest nonprofit organization representing more than 250,000 members and supporters nationwide, hereby petitions the Board of Governors of the Federal Reserve System (the “Board”) and the Financial Stability Oversight Council (the “Council”) to recognize that the Bank of America Corporation (“Bank of America” or “the bank”) poses a “grave threat” to the stability of the United States financial system and to mitigate that threat, as provided by section 121 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act” or the “Act”). 1 Pursuant to the authority in the Act, the Board and the Council should reform Bank of America into one or more institutions that are smaller, less interconnected, less complex, more manageable and, as a result, less systemically dangerous.

Under section 121 of the Dodd-Frank Act, if the Board determines that a financial institution poses a “grave threat” to U.S. financial stability, then the Board, with approval from the Council, “shall” mitigate that threat.2 The Act offers regulators the flexibility to take a range of actions, including limiting the institution’s mergers and acquisitions, restricting or imposing conditions on its products or activities, or ordering it to divest assets or off-balance sheet items.

- more -

http://www.citizen.org/documents/Public-Citizen-Bank-of-America-Petition.pdf

[Egalitarian Thug]

5. More BS from the White House press room.

Not that the republicans are not heinous bastards that should be used as hanging decor along Pennsylvania Avenue, but that Restoring American Financial Stability Act of 2010 was anything other than another DC blowjob to Wall Street.

We had an effective law to prevent this wholesale looting for almost 70 years and its destruction was a bipartisan effort.

[ProSense]

6. First of all,

More BS from the White House press room.

Not that the republicans are not heinous bastards that should be used as hanging decor along Pennsylvania Avenue, but that Restoring American Financial Stability Act of 2010 was anything other than another DC blowjob to Wall Street.

We had an effective law to prevent this wholesale looting for almost 70 years and its destruction was a bipartisan effort.

...the OP is a Senate vote. Secondly, by "DC blowjob to Wall Street" do you mean that the banks love regulations: http://www.democraticunderground.com/?com=view_post&forum=1002&pid=2144285

Thirdly, Glass-Steagall wasn't repealed by President Obama.

[Egalitarian Thug]

7. "Only please, Brer Fox, please don't throw me into the briar patch."

You're such an easy mark.

I didn't say, nor imply, the the President repealed Glass-Steagall, but he most certainly did make sure that no voices that would fix that problem would ever be heard in his White House.

[ProSense]

8. Nonsense.

"You're such an easy mark. "

I doubt you have any clue what the repeal meant or what the current law does.