Warren Leads Populist Charge Against Big Vote

Says spending bill weakens Wall Street rules, wants Democrats to oppose it
By John Johnson,  Newser Staff
Posted Dec 11, 2014 9:29 AM CST
Warren Leads Populist Charge Against Big Vote
Sen. Elizabeth Warren, D-Mass., and Rep. Maxine Waters, D-Calif., talk to reporters.   (AP Photo/J. Scott Applewhite)

The House and Senate need to pass a spending bill by midnight to avoid a shutdown, and things have gotten more complicated because of opposition by progressives led by Sen. Elizabeth Warren, reports the Hill. Warren says a deal struck by leaders includes a provision that would weaken new rules on Wall Street, and she called on House Democrats to remove the measure before sending it to the Senate. "Who does Congress work for?" she asked on the Senate floor. "Does it work for the millionaires, the billionaires, the giant companies with their armies of lobbyists and lawyers, or does it work for all the people?"

The provision she's worried about would ease rules on derivatives trading put in place under the Dodd-Frank reform law and let "Wall Street gamble with taxpayer money," she says. Former Rep. Barney Frank himself returned to the spotlight to call it a "stealth attack" on his namesake law. Nancy Pelosi also voiced concern about the measure, but wasn't asking members to oppose the bill, adds the Washington Post. House Republicans still think they have enough support from Republicans and Democrats to pass the overall bill today, reports Politico. Warren wouldn't say how far she'd go to oppose the measure if it reaches the Senate floor. (More Elizabeth Warren stories.)

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