13 December 2014

Retrograde amnesia spreads across the U.S.: The disastrous House vote on No. 563

The House just passed a massive $1.1 trillion spending plan that contained a provision, which pretty much follows, word per word, that penned by Citigroup, repealing a key part of the Dodd-Frank Act. The provision enables the big banks to return to using insured deposits and other taxpayer subsidies to gamble in the derivatives markets. People must have a very short memory: this is the very type of business that drove the 2008 financial crisis and destroyed household savings throughout the country. The bill's expected to pass in the Senate. Wall Street has finally found the perfect moment to reshape financial regulation. Obama was telling Democrats to go along with the legislation as the least of potential evils. I don't see why anyone would vote for it. The other accomplishments of the bill? Massive funding to the military and making it easy for people to lose their pensions. Unbelievable! The Republicans against the bill can probably be described as Tea Party types who wanted to bring  the government down to punish Obama and get more concessions. A map of the votes throughout the U.S. is given below:

The Republicans and Democrats who supported the bill are listed below: Republicans voting yes:

Aderholt, R. (R-AL-4) Amodei, M. (R-NV-2) Bachus, S. (R-AL-6) Barletta, L. (R-PA-11) Barr, A. (R-KY-6) Benishek, D. (R-MI-1) Bilirakis, G. (R-FL-12) Bishop, R. (R-UT-1) Black, D. (R-TN-6) Boehner, J. (R-OH-8) Boustany, C. (R-LA-3) Brady, K. (R-TX-8) Brooks, S. (R-IN-5) Buchanan, V. (R-FL-16) Bucshon, L. (R-IN-8) Byrne, B. (R-AL-1) Calvert, K. (R-CA-42) Camp, D. (R-MI-4) Capito, S. (R-WV-2) Carter, J. (R-TX-31) Cassidy, B. (R-LA-6) Chabot, S. (R-OH-1) Chaffetz, J. (R-UT-3) Coble, H. (R-NC-6) Coffman, M. (R-CO-6) Cole, T. (R-OK-4) Collins, C. (R-NY-27) Collins, D. (R-GA-9) Cook, P. (R-CA-8) Cramer, K. (R-ND-1) Crenshaw, A. (R-FL-4) Culberson, J. (R-TX-7) Daines, S. (R-MT-1) Davis, R. (R-IL-13) Denham, J. (R-CA-10) Dent, C. (R-PA-15) Diaz-Balart, M. (R-FL-25) Duffy, S. (R-WI-7) Ellmers, R. (R-NC-2) Fincher, S. (R-TN-8) Fitzpatrick, M. (R-PA-8) Fleischmann, C. (R-TN-3) Forbes, J. (R-VA-4) Fortenberry, J. (R-NE-1) Foxx, V. (R-NC-5) Frelinghuysen, R. (R-NJ-11) Gardner, C. (R-CO-4) Gerlach, J. (R-PA-6) Gibbs, B. (R-OH-7) Gibson, C. (R-NY-19) Gingrey, P. (R-GA-11) Goodlatte, B. (R-VA-6) Granger, K. (R-TX-12) Graves, S. (R-MO-6) Graves, T. (R-GA-14) Griffin, T. (R-AR-2) Grimm, M. (R-NY-11) Guthrie, B. (R-KY-2) Hanna, R. (R-NY-22) Harper, G. (R-MS-3) Harris, A. (R-MD-1) Hartzler, V. (R-MO-4) Hastings, D. (R-WA-4) Heck, J. (R-NV-3) Herrera Beutler, J. (R-WA-3) Holding, G. (R-NC-13) Hudson, R. (R-NC-8) Huizenga, B. (R-MI-2) Hultgren, R. (R-IL-14) Hunter, D. (R-CA-50) Issa, D. (R-CA-49) Jenkins, L. (R-KS-2) Johnson, B. (R-OH-6) Jolly, D. (R-FL-13) Joyce, D. (R-OH-14) Kelly, M. (R-PA-3) King, P. (R-NY-2) Kingston, J. (R-GA-1) Kinzinger, A. (R-IL-16) Kline, J. (R-MN-2) Lance, L. (R-NJ-7) Latham, T. (R-IA-3) Latta, R. (R-OH-5) LoBiondo, F. (R-NJ-2) Long, B. (R-MO-7) Lucas, F. (R-OK-3) Luetkemeyer, B. (R-MO-3) Marino, T. (R-PA-10) McCarthy, K. (R-CA-23) McCaul, M. (R-TX-10) McHenry, P. (R-NC-10) McKeon, B. (R-CA-25) McMorris Rodgers, C. (R-WA-5) Meehan, P. (R-PA-7) Messer, L. (R-IN-6) Mica, J. (R-FL-7) Miller, C. (R-MI-10) Mullin, M. (R-OK-2) Murphy, T. (R-PA-18) Noem, K. (R-SD-1) Nugent, R. (R-FL-11) Nunes, D. (R-CA-22) Nunnelee, A. (R-MS-1) Palazzo, S. (R-MS-4) Paulsen, E. (R-MN-3) Pearce, S. (R-NM-2) Petri, T. (R-WI-6) Pittenger, R. (R-NC-9) Pitts, J. (R-PA-16) Price, T. (R-GA-6) Reed, T. (R-NY-23) Reichert, D. (R-WA-8) Renacci, J. (R-OH-16) Ribble, R. (R-WI-8) Rigell, S. (R-VA-2) Roby, M. (R-AL-2) Roe, P. (R-TN-1) Rogers, H. (R-KY-5) Rogers, M. (R-MI-8) Rokita, T. (R-IN-4) Rooney, T. (R-FL-17) Roskam, P. (R-IL-6) Ros-Lehtinen, I. (R-FL-27) Ross, D. (R-FL-15) Rothfus, K. (R-PA-12) Royce, E. (R-CA-39) Runyan, J. (R-NJ-3) Ryan, P. (R-WI-1) Scalise, S. (R-LA-1) Schock, A. (R-IL-18) Sessions, P. (R-TX-32) Shimkus, J. (R-IL-15) Shuster, B. (R-PA-9) Simpson, M. (R-ID-2) Smith, A. (R-NE-3) Smith, J. (R-MO-8) Southerland, S. (R-FL-2) Stewart, C. (R-UT-2) Stivers, S. (R-OH-15) Terry, L. (R-NE-2) Thompson, G. (R-PA-5) Thornberry, M. (R-TX-13) Tiberi, P. (R-OH-12) Tipton, S. (R-CO-3) Turner, M. (R-OH-10) Upton, F. (R-MI-6) Valadao, D. (R-CA-21) Wagner, A. (R-MO-2) Walberg, T. (R-MI-7) Walden, G. (R-OR-2) Walorski, J. (R-IN-2) Wenstrup, B. (R-OH-2) Westmoreland, L. (R-GA-3) Whitfield, E. (R-KY-1) Wilson, J. (R-SC-2) Wolf, F. (R-VA-10) Womack, S. (R-AR-3) Woodall, R. (R-GA-7) Yoder, K. (R-KS-3) Yoho, T. (R-FL-3) Young, D. (R-AK-1) Young, T. (R-IN-9)

 The following Democrats voted yes:

 Barber, R. (D-AZ-2) Barrow, J. (D-GA-12) Bera, A. (D-CA-7) Bishop, S. (D-GA-2) Bishop, T. (D-NY-1) Brady, R. (D-PA-1) Brownley, J. (D-CA-26) Bustos, C. (D-IL-17) Carney, J. (D-DE-1) Clay, W. (D-MO-1) Clyburn, J. (D-SC-6) Connolly, G. (D-VA-11) Costa, J. (D-CA-16) Crowley, J. (D-NY-14) Cuellar, H. (D-TX-28) Davis, S. (D-CA-53) Delaney, J. (D-MD-6) Dingell, J. (D-MI-12) Farr, S. (D-CA-20) Fattah, C. (D-PA-2) Foster, B. (D-IL-11) Gallego, P. (D-TX-23) Garamendi, J. (D-CA-3) Himes, J. (D-CT-4) Horsford, S. (D-NV-4) Hoyer, S. (D-MD-5) Kaptur, M. (D-OH-9) Kind, R. (D-WI-3) Kuster, A. (D-NH-2) Lipinski, D. (D-IL-3) Lowey, N. (D-NY-17) Maffei, D. (D-NY-24) Maloney, S. (D-NY-18) Matheson, J. (D-UT-4) McCarthy, C. (D-NY-4) Meeks, G. (D-NY-5) Miller, G. (D-CA-11) Moran, J. (D-VA-8) Murphy, P. (D-FL-18) Norcross, D. (D-NJ-1) Owens, W. (D-NY-21) Pastor, E. (D-AZ-7) Perlmutter, E. (D-CO-7) Peters, G. (D-MI-14) Peters, S. (D-CA-52) Price, D. (D-NC-4) Quigley, M. (D-IL-5) Richmond, C. (D-LA-2) Ruiz, R. (D-CA-36) Ruppersberger, C. (D-MD-2) Schneider, B. (D-IL-10) Schwartz, A. (D-PA-13) Scott, D. (D-GA-13) Sewell, T. (D-AL-7) Sherman, B. (D-CA-30) Sinema, K. (D-AZ-9) Wasserman Schultz, D. (D-FL-23)


Anonymous said...

Not amnesia really. People never understood what happened last time.

Karlo said...

All I remember is losing massive amounts of money while watching pictures of bankers, bailed out with my tax-money, walking away with million-dollar bonuses. On one level, I have little understanding of how the derivatives game worked, but at the level of numbers going up and down in my bank account, I had a very good understanding. Of course, you're right: the problem with all this stuff is that it's abstract details happening somewhere else and that makes seem removed from our everyday reality.

CyberKitten said...

I've got it in my head lately to at least have an appreciation of Economics so, inevitably, I've been reading up on it. I can recommend 'Economics: The Use's Guide' by Ha-Joon Chang as a good place to start.

Oh, back in my day they called the 'Derivatives' Market gambling.....

Karlo said...

In this case, gambling with a rich uncle who bails you out if you ever lose really badly.