Friday, November 01, 2013


The banksters pretty much won this battle:
The House voted 292-122 to pass Swaps Regulatory Improvement Act, which repeals a provision in the law that required big banks to move some derivatives trading into separate units that aren’t backed by the government’s insurance fund.

The vote followed months of heavy lobbying by Wall Street banks, and The New York Times reviewed emails that showed Citigroup lobbyists drafted at least 70 of the House bill’s 85 lines.

Only three Republicans, Reps. John Duncan (TN), Walter Jones (NC), and Thomas Massie (KY), voted against the measure, which gained the support of 70 Democrats.

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