Volcker Rule

Ken Langone, the Long Island vulture capitalist who put together part of the money for the founders of Home Depot, has a current net worth of something around $3 billion. He'll be 83 before the midterms and he's doing all he can to disadvantage progressives with his money. Generally, he gives contributions to Republicans but he's fine with conservative, Wall Street-friendly Democrats too.

One of the smarter members of Congress told me this after reading this post today: "Generally speaking, if someone offers you campaign money in order to change a law affecting that certain someone, it’s safe to say that it’s not a change for the better.

Zach Carter is one of Huff Po's most perceptive reporters and yesterday he warned his readers that while we were all distracted by the clown show Trump had finally delivered one on big campaign promise-- not for his voters, of course, but for his Wall Street donors-- he pretty much gutted Dodd-Frank.

Yesterday Elizabeth Warren was the keynote speaker at an AFL-CIO conference. Her speech is embedded above and I didn't quote too much from it below.

As we mentioned Monday, all but one Republican (Walter Jones) voted to exempt private equity fund investment advisers from regulatory registration and reporting requirements. They were joined by 36 Democrats led by Wall Street whores Steve Israel ("ex"-Blue Dog-$800,019) and Jim Himes (New Dem-$1,853,26). Ever since Boehner became Speaker, whittling away at Dodd-Frank has been top priority-- and he knows there are always a couple dozen corrupt Democrats to tag along for the goodies.