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
- 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.