Wednesday, May 19, 2010

Blance Lincoln faces runoff because she sold out the public's interests for corporate interest

a comment to article below pointed out so well that missing from the article was:

- Lincoln's setback was caused by progressives' anger at how she sells out citizens' interests for corporate interests

- She took corporate money to oppose the public option, leaving citizens to the mercy of the insurance sharks when they're sick

- need to get traitors like Lincoln out of power. She's a disgrace to her party and her office.

Lincoln loses leverage on US financial reform bill

WASHINGTON, May 19 (Reuters) - Senator Blanche Lincoln, a key voice for financial reform, was forced on Tuesday into a Democratic runoff election in Arkansas and lost leverage for her plan to force big banks to spin off swaps desks.

She was expected to be the vote-leader in the primary and possibly win the nomination outright. Instead, Lieutenant Governor Bill Halter ran neck-and-neck with her in a race colored by anti-Washington sentiment.

Her swap reform proposal would cost a handful of big U.S. banks billions of dollars in revenue. It is one of the final issues in a mammoth Wall Street reform bill pending in the Senate.

The swaps-desk language was a hallmark of Lincoln-authored legislation to bring the $615 trillion market in over-the-counter derivatives under federal regulation.


rest at http://www.reuters.com/article/idUSN1818492320100519

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