“Lobbyists and House Democrats working to roll back a key provision of Wall Street reform are taking liberties with the truth as they make their case ahead of a key House vote.
“At issue is [H.R. 992, which will modify] what kind of derivatives trades ought to be backed up by collateral and regulated.”
A letter from Rep. Jim Himes (D-Conn.) to his colleagues claims support for lax regulation from former Rep. Barney Frank (D-Mass.), a chief sponsor of the historic Dodd-Frank reform law; Sheila Bair, reform-minded former head of the Federal Deposit Insurance Corporation; and Rep. Maxine Waters (D-Calif.), the ranking member on the House Financial Services Committee.
But Himes distorted the position of all three. And he’s welcome to BITE ME.