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Why Congressional Republicans Are Enabling Trump


As we saw again today, there is one position Congressional Republicans have on Donald Trump, and that position is “all-in.” Why are they refusing to perform any oversight of an incredibly unfit and corrupt president? Because they want to do all kinds of horrible shit! Such as:

In the years that followed the crisis, President Obama and Congress put into place safeguards to prevent Washington from again being forced into such a choice by institutions that were “too big to fail.” Today, large financial institutions are subject to much more stringent regulation, and if they get into trouble, the government has important new tools to wind them down without taking down the rest of the financial system. As a result, firms cannot take outsize risks on the assumption that if their bets go wrong, the government will sweep in and prop them up.

But this week, House Republicans are expected to pass a bill that would eviscerate the very reforms that make a repeat of the 2008 scenario unlikely. The so-called Financial CHOICE Act eliminates two of the key reforms specifically designed to prevent another bailout.

Although the bill is supported by the Trump administration, it would directly undercut an executive order President Trump issued on February 3. One of the “Core Principles for Regulating the United States Financial System” laid out in that order was: “prevent taxpayer-funded bailouts.” The CHOICE act, however, would invite future bailouts, not prevent them.

And even worse:

Senate Speaker Mitch McConnell (R-KY) said he is striving to get a vote on the Republican health care bill by July 4, before Congress leaves for August recess. As ludicrous as this deadline seems, the Senate could pull it off — but it will be done without much public scrutiny.

Sen. McConnell implemented Senate “Rule 14” Wednesday to fast-track the GOP House health bill. This rule allows the Senate to skip the committee process (goodbye full senate committee debate) and instead “fast-tracks” the bill by moving it on the senate calendar so it can be brought to a vote.

Republicans need to pass a health care bill immediately. And they need to pass a bill that reconciles the needs of both the House and Senate, by September 30th in order to use reconciliation. Reconciliation is a 1974 act that expedites the senate’s consideration of bills that pertain to the budget. While Washington watches James Comey testify before the Senate Intelligence Committee, Senate Republicans leaders and the health care working group will still be meeting for a working luncheon to continue negotiations.

If Republicans conducted any oversight of Trump this might make it harder to coddle Wall Street and take health insurance from more than 20 million people to pay for a massive upper-class tax cut, so you can see their dilemma.

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