Strange Bedfellows Unite To Oppose Spending Bill’s Gift To Big Banks

In a case of strange bedfellows, liberal Democratic Sen. Sherrod Brown (OH) and conservative Republican Sen. David Vitter (LA) have joined forces to push for the removal of language weakening rules on big banks in the spending bill.

The two senators wrote a joint letter calling on congressional leaders to remove a provision from the $1.1 trillion spending bill that would loosen rules on derivatives trading established in the Dodd-Frank financial reform law.

Read the letter below.

Despite a Democratic revolt led by Sen. Elizabeth Warren (D-MA), it’s unlikely the language will be stripped from the massive spending bill. It narrowly cleared a hurdle in the House on Thursday, and is poised for a full House vote later in the day. If it passes, the Senate is expected to take it up shortly after. The White House has said it objects to the Dodd-Frank provision, but supports the overall bill anyway.

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