FacebookTwitterRedditEmail

Fronting for Citigroup

Congresswoman Shelley Moore Capito (R-West Virginia) wants to wipe out the cops.

If it were up to her, Capito would get rid of the newly created Consumer Financial Protection Bureau — the top cop on Wall Street.

Capito told Credit Union Times this week that if it were up to her, she would “dismantle? the agency.

But even that would be too obvious for her big bank masters, so instead Capito has put forth legislation that would significantly curtail the powers of the new police agency — an agency that is not scheduled to begin its operations until July 21.

Capito’s primary financial backers during her Congressional career have been the PACs and executives at Citigroup.

And while she wraps herself around the flag of small community bankers, Capito is working for the big banks.

Have no doubt.

Adam Levitin, a Professor of Law at Georgetown University, testified last week before the House Committee on Financial Services — Subcommittee on Financial Institutions and Consumer Credit — which Capito chairs.

Capito and her Big Bank colleagues have put forth legislation on behalf of the big banks that would — as Levitin put it — “strangle the new agency in its crib.”

“The bills being considered at this hearing would appear to be legislative tweaks to the structure of the Consumer Financial Protection Bureau,” Levitin told the subcommittee on April 6. “But let us not mistake what this hearing is really about. The issue presented by this hearing is whether Congress cares more about increasing the profits of banks or protecting the financial security of American families.”

“Which is more important? Banks or families? That is the question.”

“The new CFPB has not yet had a chance to get up and running, yet already we’re seeing attempts to strangle the new agency in its crib.”

“If you want to understand what this hearing is about, look at who is here at this witness table. There are three bankers and me.”

“At the previous — on the previous panel, there were three bankers and Mr. Shelton from the NAACP.”

“Ask yourself — who here likes the CFPB and who does not? The banks are opposed to the CFPB and want to see it hobbled if not eliminated.”

“But it is families, Main Street and the real economy who like to see CFPB and want someone looking out for them, making sure that banks don’t run wild like they did in the run up to the financial crisis, because the other banks regulators, the prudential regulators failed us.”

“And we were stuck with the bill.”

“Again, does the subcommittee care more about the interest of banks or about American families?”

Capito said she was “shocked” to hear Levitin say that “the choices here are between banks and families.”

Shocked.

Shocked.

But Capito cannot fool all of the people all of the time.

The families in Capito’s Congressional district have caught onto her game.

She’s fronting for Citigroup — her number one donor.

And working to wipe out the cops who would protect the families in her district.

Members of families from throughout Capito’s district will be meeting on April 20, 2011 at the Earth Dog Cafe in Berkeley Springs, West Virginia.

An ad announcing the meeting will appear in this week’s Morgan Messenger.

RUSSELL MOKHIBER edits Morgan County USA.

 

 

 

 

More articles by:

Russell Mokhiber is the editor of the Corporate Crime Reporter..

bernie-the-sandernistas-cover-344x550

Weekend Edition
April 19, 2019
Friday - Sunday
Andrew Levine
What Will It Take For Trump to Get His Due?
Roy Eidelson
Is the American Psychological Association Addicted to Militarism and War?
Jeffrey St. Clair
Roaming Charges: Time is Blind, Man is Stupid
Joshua Frank
Top 20 Mueller Report “Findings”
Rob Urie
Why Russiagate Will Never Go Away
Paul Street
Stephen Moore Gets Something Right: It’s Capitalism vs. Democracy
Russell Mokhiber
Why Boeing and Its Executives Should be Prosecuted for Manslaughter
T.J. Coles
The Battle for Latin America: How the U.S. Helped Destroy the “Pink Tide”
Ron Jacobs
Ho Chi Minh City: Nguyen Thai Binh Street
Dean Baker
Fun Fictions in Economics
David Rosen
Trump’s One-Dimensional Gender Identity
Kenn Orphan
Notre Dame: We Have Always Belonged to Her
Robert Hunziker
The Blue Ocean Event and Collapsing Ecosystems
Theodore C. Van Alst, Jr.
Paddy Wagon
Brett Wilkins
Jimmy Carter: US ‘Most Warlike Nation in History of the World’
John W. Whitehead
From Jesus Christ to Julian Assange: When Dissidents Become Enemies of the State
Nick Pemberton
To Never Forget or Never Remember
Stephen Cooper
My Unforgettable College Stabbings
Louis Proyect
A Leftist Rejoinder to the “Capitalist Miracle”
Louisa Willcox
Aldo Leopold’s Land Ethic and the Need for a New Approach to Managing Wildlife
Brian Cloughley
Britain Shakes a Futile Fist and Germany Behaves Sensibly
Jessicah Pierre
A Revolutionary Idea to Close the Racial Wealth Divide
George Burchett
Revolutionary Journalism
Dan Bacher
U.S. Senate Confirms Oil Lobbyist David Bernhardt as Interior Secretary
Nicky Reid
The Strange Success of Russiagate
Chris Gilbert
Defending Venezuela: Two Approaches
Todd Larsen
The Planetary Cost of Amazon’s Convenience
Kelly Martin
How the White House is Spinning Earth Day
Nino Pagliccia
Cuba and Venezuela: Killing Two Birds With a Stone
Matthew Stevenson
Pacific Odyssey: Guadalcanal and Bloody Ridge, Solomon Islands
David Kattenburg
Trudeau’s Long Winter
Gary Olson
A Few Comments on the recent PBS Series: Reconstruction: America After the Civil War
Ellen Lindeen
What Does it Mean to Teach Peace?
Adewale Maye and Eileen Appelbaum
Paid Family and Medical Leave: a Bargain Even Low-Wage Workers Can Afford
Ramzy Baroud
War Versus Peace: Israel Has Decided and So Should We
Ann Garrison
Vets for Peace to Barbara Lee: Support Manning and Assange
Thomas Knapp
The Mueller Report Changed my Mind on Term Limits
Jill Richardson
Why is Going Green So Hard? Because the System Isn’t
Mallika Khanna
The Greenwashing of Earth Day
Arshad Khan
Do the Harmless Pangolins Have to Become Extinct?
Paul Armentano
Pushing Marijuana Legalization Across the Finish Line
B. R. Gowani
Surreal Realities: Pelosi, Maneka Gandhi, Pompeo, Trump
Paul Buhle
Using the Law to Build a Socialist Society
David Yearsley
Call Saul
Elliot Sperber
Ecology Over Economy 
FacebookTwitterRedditEmail