Sen. Elizabeth Warren (D-Mass.) said the party of smaller government shouldn’t expand a government insurance program.
“I ask my Republican colleagues who don’t want to see another Wall Street bailout to strip this provision from the bill,” Warren said on the Senate floor Thursday. “If you believe in smaller government, how can you support expanding a government insurance program?”
{mosads}On Wednesday, Warren urged House Democrats to block the $1.1 trillion “cromnibus” bill, which funds most of the government through September, because it would repeal part of the Dodd-Frank financial reform law.
Warren said the change would allow big banks to once against make risky investments and leave taxpayers holding the bag if another financial collapse occurs. The financial reform law passed after the 2008 crash to protect taxpayers from bank bailouts.
“Who do you work for, Wall Street or the American people?” Warren said. “Nobody sent us here to stand up for Citigroup.
“It is time for all of us to stand up and fight.”
Her comments came after the House narrowly approved the rule to consider the government funding bill, which has to be passed by midnight to prevent a government shutdown. House Republican had to carry the procedural vote alone; no Democrats voted for it.