WH Invites Top Lawmakers To Discuss Bank Rules. McConnell preemptively says NO today to Senate bill.

[flpoljunkie]

White House invites top lawmakers to discuss bank rules
Reuters

Tuesday, April 13, 2010; 11:37 AM

WASHINGTON (Reuters) - Top Republican and Democratic lawmakers will attend a bipartisan meeting with President Barack Obama on Wednesday to discuss proposed financial regulatory reform, the White House said on Tuesday.

Senate Majority Leader Harry Reid, Speaker of the House of Representatives Nancy Pelosi and House Democratic leader Steny Hoyer will be there for Obama's Democratic Party. Republicans will be represented by Senate Minority Leader Mitch McConnell and House Minority leader John Boehner.

Obama is keen to build on his momentum from the passage of landmark healthcare reform last month and wants to pursue tougher rules against banks to curb reckless risk-taking while beefing up protection for consumers.

McConnell, in a sign of Republican opposition, said earlier on Tuesday that a bill soon to be introduced on the Senate floor "must not pass".

The Senate is inching toward a final vote, possibly coming this month or next, on a sweeping bill that would impose tighter rules on banks and capital markets in response to the worst financial crisis since the Great Depression.

http://www.washingtonpost.com/wp-dyn/content/article/2010/04/13/AR2010041302241.html

[Arkana]

1. Burn in hell, Mitch!

[flpoljunkie]

2. Financial legislation does need to be made stronger, but McConnell actually wants it weaker.

[midnight]

3. O good, and then they will let the lawmakers and their previous staff members

,who are now lobbing for the banks, carefully write a acceptable consumer protection bill for the fat cats.... These steps are predictable; however, maybe Elizabeth Warren has woken them up?

[flpoljunkie]

4. Professor Warren recently said this is a 'critical moment' and we must speak out now.

Listened recently to a Webinar from ourfinancialsecurity.org with Harvard's Elizabeth Warren, Harvard Law Professor, and strong proponent of an independent Consumer Financial Protection Agency. Warren also heads the TARP Oversight Panel for President Obama. She feels a strong and independent CPFA is the key to preventing another financial meltdown--that the latest financial crisis started 'one lousy mortgage at a time' with profits raked off the top and the risk passed up the system.

Professor Warren said this is a critical moment and implored those listening to contact everyone they know and get involved now with 'our voices, our energy and our hearts and do everything we can. Without our involvement we are truly lost and the banks will win.' Will they, as Senator Durbin once said, 'own the place?'

There are four banking lobbyists for every member of Congress. It will not be easy, but we must speak out now. Do we own Washington, D.C. or do the banks?

If you have not emailed your senators here's the link: Tell the Senate to Strengthen Financial Reform and Hold the Big Banks Accountable

http://capwiz.com/affil/home /

[Cha]

5. I feel for those who are trying to get something accomplished

and they have to put up with those who only want to whine.