A Bank Fee Is Cut From Financial Overhaul Bill - NYTimes.com: Democrats expressed frustration, saying they were adjusting the bill to meet the demands of centrist Senate Republicans only to face stiff criticism from Republicans on the committee. “Frankly, I’m caught in the middle of an intra-Republican debate here,” said Representative Barney Frank, Democrat of Massachusetts and chairman of the Financial Services Committee, who presided over the conference proceedings with SenatorChristopher J. Dodd, Democrat of Connecticut and chairman of the banking committee. Heather Booth, director of Americans for Financial Reform, said she believed Mr. Brown’s reasons for opposing the bank fees missed the point of overhauling the regulatory system. “Not passing this bill will cost taxpayers more,” Ms. Booth said. “It increases the risk in the economy over all.” She said her organization believed the biggest banks — approximately 30 with assets of more than $50 billion that would be subject to the assessments — had fanned the opposition. Senate Democrats need 60 votes to close debate on the conference report and move to a final vote. There are now 58 senators in the Democratic caucus, including two independents."Senate Republicans who had supported an earlier version of the measure threatened to block final approval unless Democrats removed a proposed tax on big banks and hedge funds."
Wednesday, June 30, 2010
They Scream About Taxes, Force Taxpayers To Pay
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