The GOP is determined to replace home signs that only recently came down, with new signs of foreclosure. When Dodd-Frank passed after the economic meltdown in 2008, the GOP felt that the regulations were taken to far. According to the House majority, regulations on Wall Street were unnecessary as the housing crash wasn’t that bad. When they took control this January, they began pushing for immediate reform to the Dodd-Frank bill.
These magicians are pulling carrots from their hats rather than rabbits. They squeeze reform to the Dodd-Frank bill into provisions of must pass bills such as the recent terrorism-insurance bill that passed Jan. 8. These “today only” must pass bills may eventually dilute the Dodd-Frank law to the point it doesn’t serve it’s original purpose.
Elizabeth Warren responded to Congress repeal of certain aspects to the Volcker Rule, “…I will tell you that I’m madder than hops about repealing the section of Dodd-Frank that is designed to lower risks in exactly the area where the big banks got into trouble.” (Bair, 2015) You can almost hear the GOP laughing, saying, “What a dumb bunny.” Elizabeth Warren isn’t the type to just go away. She will stick around to try and help them pull the rabbit from the hat in their future acts.
While she has the support of many liberals, she has said she will not run as a 2016 presidential candidate. Warren’s, this means war attitude, will remain in the front lines as we see more attempted provisions to the Dodd-Frank law in our future. She did win one recent battle of keeping a Wall-Street insider out of Washington. Antonio Weiss, a former Wall-Street banker, withdrew his nomination for a top-policy position in the Treasury Department. With the impact she’s made from the Senate, that may be the best position for her.
Bair, S. (2015, 01 13). Elizabeth Warren: I'm not running for president. Retrieved 01 14, 2015, from Furtune: http://fortune.com/2015/01/13/elizabeth-warren-sheila-bair/