These 2020 hopefuls are courting Wall Street. Don't be fooled by their progressive veneer

[BeckyDem]

72. The ever critical Obama bank regulations are no longer in place and the voting on that score is

important to remember too. That said, Sherrod Brown wrote and gave the speech of his career on the floor of the senate trying to keep regulations in place, so don't always presume the worst. Look at everything and all of the Democrats should have listened to him.



Brown Opening Floor Speech Opposing S.2155, the Dodd-Frank Roll Back Bill
Tuesday, March 6, 2018

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) – ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs – delivered the following speech on the Senate floor today in opposition to S.2155, The Economic Growth, Regulatory Relief and Consumer Protection Act.

Brown’s remarks, as prepared for delivery, follow.

Mr. President,

Ten years ago – almost to the day – this country was on the verge of a financial crisis that would end up wrecking the lives of millions of families.

The experts – the so-called experts – had their heads in the sand. They shrugged off the warnings. They told the public everything was fine.

Jim Cramer was telling hardworking Americans to invest their money in Bear Stearns, saying “I’m not giving up on the thing.” Bank of America was putting the finishing touches on its plan to buy the subprime lender Countrywide, which they called “the best domestic mortgage platform.”

Hank Paulson – the last Treasury Secretary who got plucked from Goldman Sachs until Secretary Mnuchin came along – downplayed homeowners’ pain. He said “You know, the stock market goes up and down every day more than the entire value of the subprime mortgages in the country.”

Meanwhile, advocates in communities – the people who were actually dealing with the consequences of the building crisis – were sounding the alarm.

https://www.brown.senate.gov/newsroom/press/release/brown-opening-floor-speech-opposing-s2155_the-dodd-frank-roll-back-bill_