The Economic Growth, Regulatory Relief, and Consumer Protection Act is another 2008 Financial Disaster in the making.
I still remember the last financial crisis from a few years ago. The Big Banks won. The everyday Joes and Janes like me lost big time. Please listen to the Congressional Budget Office: the “CBO estimates that the probability is small under current law and would be slightly greater under the legislation”. And, although the bill is supposed to benefit small banks, the CBO said it’s possible that JP Morgan and Citibank, specifically, would benefit from changes to the way that regulators measure capitalization for banks that are “predominantly engaged in custody, safekeeping, and asset servicing activities.”
Please do not support any Republican/Bankster legislation that helps the Banksters hurt Michiganders again. Sen. Sherrod Brown (D-Ohio) said it best:
"Are you with the big banks and the Wall Street operators who wrecked the economy and got big bailouts, or are you with families and workers?"
The Democrats are going to mess-up the midterm elections by accepting bucks from the Big Money Lobby one percenters , the banks, and groups like the NRA.
Senators, especially Michigan Senators Stabenow and Peters, you must make the Democratic Party enact Progressive legislation and move toward the common people or risk not only losing the midterms but also what is left of our Democratic/Republic, too.