Citicorp wrote the bill. The House passed it.
From the NY Times.
From the NY Times.
"The fierce Democratic opposition over the Dodd-Frank
rollback provision created the odd spectacle of President Obama and Vice
President Joseph R. Biden Jr. calling Democrats to muster support for the
spending bill over the opposition of Ms. Pelosi.
“I love the American political system, I really do, but
the ability to sneak in substantive policy measures and make it take it or
leave it, I think it’s appalling,” said Simon Johnson of the Massachusetts
Institute of Technology’s Sloan School of Management and a former chief
economist at the International Monetary Fund, who is a prominent critic of the
nation’s big banks.
The push-out legislation assumed outsize importance, not
only because of what it does but because the biggest Wall Street companies have
fought it since it was proposed.
The language in the spending bill was inserted by
Representative Kevin Yoder, Republican of Kansas, but he did not write
it. Citigroup did. In 2013, the bank and its
allies were able to corral a bipartisan vote to pass the rollback out of the
House Financial Services Committee. In an analysis by The New York Times of
Citigroup emails, more than 70 lines of the committee’s 85-line rollback bill
came from Citigroup’s recommendations."
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