FacebookTwitterGoogle+RedditEmail

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..

July 19, 2018
Rajai R. Masri
The West’s Potential Symbiotic Contributions to Freeing a Closed Muslim Mind
Jennifer Matsui
The Blue Pill Presidency
Ryan LaMothe
The Moral and Spiritual Bankruptcy of White Evangelicals
Paul Tritschler
Negative Capability: a Force for Change?
Patrick Bond
State of the BRICS Class Struggle: ‘Social Dialogue’ Reform Frustrations
Rev. William Alberts
A Well-Kept United Methodist Church Secret
Raouf Halaby
Joseph Harsch, Robert Fisk, Franklin Lamb: Three of the Very Best
George Ochenski
He Speaks From Experience: Max Baucus on “Squandered Leadership”
Ted Rall
Right Now, It Looks Like Trump Will Win in 2020
David Swanson
The Intelligence Community Is Neither
Andrew Moss
Chaos or Community in Immigration Policy
Kim Scipes
Where Do We Go From Here? How Do We Get There?
July 18, 2018
Bruce E. Levine
Politics and Psychiatry: the Cost of the Trauma Cover-Up
Frank Stricker
The Crummy Good Economy and the New Serfdom
Linda Ford
Red Fawn Fallis and the Felony of Being Attacked by Cops
David Mattson
Entrusting Grizzlies to a Basket of Deplorables?
Stephen F. Eisenman
Want Gun Control? Arm the Left (It Worked Before)
CJ Hopkins
Trump’s Treasonous Traitor Summit or: How Liberals Learned to Stop Worrying and Love the New McCarthyism
Patrick Bond
State of the BRICS Class Struggle: Repression, Austerity and Worker Militancy
Dan Corjescu
The USA and Russia: Two Sides of the Same Criminal Corporate Coin
The Hudson Report
How Argentina Got the Biggest Loan in the History of the IMF
Kenn Orphan
You Call This Treason?
Max Parry
Ukraine’s Anti-Roma Pogroms Ignored as Russia is Blamed for Global Far Right Resurgence
Ed Meek
Acts of Resistance
July 17, 2018
Conn Hallinan
Trump & The Big Bad Bugs
Robert Hunziker
Trump Kills Science, Nature Strikes Back
John Grant
The Politics of Cruelty
Kenneth Surin
Calculated Buffoonery: Trump in the UK
Binoy Kampmark
Helsinki Theatrics: Trump Meets Putin
Patrick Bond
BRICS From Above, Seen Critically From Below
Jim Kavanagh
Fighting Fake Stories: The New Yorker, Israel and Obama
Daniel Falcone
Chomsky on the Trump NATO Ruse
W. T. Whitney
Oil Underground in Neuquén, Argentina – and a New US Military Base There
Doug Rawlings
Ken Burns’ “The Vietnam War” was Nominated for an Emmy, Does It Deserve It?
Rajan Menon
The United States of Inequality
Thomas Knapp
Have Mueller and Rosenstein Finally Gone Too Far?
Cesar Chelala
An Insatiable Salesman
Dean Baker
Truth, Trump and the Washington Post
Mel Gurtov
Human Rights Trumped
Binoy Kampmark
Putin’s Football Gambit: How the World Cup Paid Off
July 16, 2018
Sheldon Richman
Trump Turns to Gaza as Middle East Deal of the Century Collapses
Charles Pierson
Kirstjen Nielsen Just Wants to Protect You
Brett Wilkins
The Lydda Death March and the Israeli State of Denial
Patrick Cockburn
Trump Knows That the US Can Exercise More Power in a UK Weakened by Brexit
Robert Fisk
The Fisherman of Sarajevo Told Tales Past Wars and Wars to Come
FacebookTwitterGoogle+RedditEmail