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Wall Street Moves to Put Taxpayers on the Hook for Derivatives Trades | Liberty Blitzkrieg

December 7, 2014

Wall Street Moves to Put Taxpayers on the Hook for Derivatives Trades | Liberty Blitzkrieg.

Wall Street has for some time attempted to put taxpayers on the hook for its derivatives trades. I highlighted this a year ago in the post: Citigroup Written Legislation Moves Through the House of Representatives. Here’s an excerpt:

Five years after the Wall Street coup of 2008, it appears the U.S. House of Representatives is as bought and paid for as ever. We heard about the Citigroup crafted legislation currently being pushed through Congress back in May when Mother Jones reported on it. Fortunately, they included the following image in their article:

Screen Shot 2014-12-05 at 3.32.12 PM

Unsurprisingly, the main backer of the bill is notorious Wall Street lackey Jim Himes (D-Conn.), a former Goldman Sachs employee who has discovered lobbyist payoffs can be just as lucrative as a career in financial services. The last time Mr. Himes made an appearance on these pages was in March 2013 in my piece: Congress Moves to DEREGULATE Wall Street.

…click on the above link to read the rest of the article…

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