6 years of highly visible Dodd-Frank legislation and thousands of lines of regulation, with no public debate, was just quietly removed and “neutered” by the stealth of an “Ear-Mark”.

To maintain government financing the banks have held Washington hostage.

Maintain our profit margins and have the public accept the risk of $3003 TRILLION or….. else!

• Senate Passes The Cromnibus: Here Is Who Voted “No” And What It Actually Contains 12-14-14 Zero Hedge
• Presenting The $303 Trillion In Derivatives That US Taxpayers Are Now On The Hook For 12-12-14 Zero Hedge
• Democrats Who Voted For The Cromnibus Received Double The Money From Wall Street Than “No” Voters 12-13-14 Zero Hedge
• Wall Street Moves to Put Taxpayers on the Hook for Derivatives Trades12-05-14 Michael Krieger, Liberty Blitzkrieg
• “The Most Egregious Sections Of Law I’ve Encountered During My Time As A Representative” 12-05-14 Michael Krieger, Liberty Blitzkrieg
• Citigroup Written Legislation Moves Through the House of Representatives.

The Bill (yet another ‘Ear-Mark’) allows financial institutions to trade certain financial derivatives from subsidiaries that are insured by the Federal Deposit Insurance Corp. — potentially putting taxpayers on the hook for losses caused by the risky contracts. Big Wall Street banks had typically traded derivatives from these FDIC-backed units, but the 2010 Dodd-Frank financial reform law required them to move many of the transactions to other subsidiaries that are not insured by taxpayers.

“It is because there is a lot of money at stake,” Johnson said. “They want to be able to take big risks where they get the upside and the taxpayer gets the potential downside,”

Disclaimer: The views or opinions expressed in this blog post may or may not be representative of the views or opinions of the Financial Repression Authority.