congressman peter defazio is on the line
with us a congressman congressman fazio low hello congressman defazio you are on
the air the democrats organs hurt the stricter belair well yeah s very very good job so what’s
going on a deposit on a house to God is the website of course a congressman what
is going on with the surpise legislation where they want to backstop the bank so
that the if they gamble and lose we pick up the
tab but if you are I gamble and lose our 401 K’s we just get screwed yep you get I am well if the another example other
Republicans breaking their promises to the american people we
have a a bill that funds the entire government
United States America for love miscellaneous writers a that was just made available yesterday voted on today than they I held the vote
open for extraordinarily long period of time
to strong-arm a a lame duck an elected Republican a into changing his vote and a couple
other republicans into changing their vote so they can prevail by two-vote
margin and as you pointed out a you know this
would allow a the Wall Street banks to gamble in the riskiest a derivative those that
brought them the economy in 2008 with a with deposit insured money that is money
that people have deposited what they in public they thought was a
commercial bank but actually the wall street gambling for and a but don’t worry if they lose all the money they expect
the taxpayer bailout so this is gonna allow them to use taxpayer insured deposits in their
gambling now I thought the vote for this was scheduled for two o’clock this
afternoon he said sorry acid the well the rule to allow the bill to come up past and I’d that I think that was the critical
vote which which means the the time to amend it has passed yeah we they brought up the bill under
Rule and if we defeated the rule we could
have a mandate now it’s an effort and vote on the bill but I i think that’s an
indication that the bill itself will pass probably by a larger margin the two about while have been around for a long
time that’s just my prediction I hope I’m wrong yeah what do I do Fido get out the pitchforks and torches a you
know maría I don’t know it just it’s absolutely
outrageous but you know they’ve got the american people stockard I mean look at
the last election heckuva lot of people voted Republican
who I think would be outraged at the idea that they are giving the Wall Street banks a you know a the opportunity to once
again tank our economy and the once again get
totally bailed out by the taxpayers I thought that was sort
of the foundation bad of course that Obamacare for the tax
for the tea party but the you know a a I don’t know you know it its the well is
also there’s also this piece in this legislation that says that the companies
that are pain pensioners right now can can start dialing back to my money
they’re getting is cuz so-called pension reform they can cut existing you know pensions people are getting
pensions right that right now do I have that right well that a George Miller who is a great
advocate have labor a and pension than everything else a argued in favor that the problem is
Pension Benefit Guaranty Corporation split between two funds one fund is
called the multi employer fun I and the there are a few huge a multiemployer plan a on the verge love a bankruptcies step forward
teamsters and a couple others and that the fund itself is on the verge
of bankruptcy so there are already people getting guarantee pensions from PBGC Pension
Benefit Guaranty Corporation prospect is that all goes bluey unless
the republicans would bail it out so a you know georgian others who are great advocate a
labor argued in favor that provision there
were other greatest things they gratuitously cut Pell Grant by three
hundred billion dollars they cut some transportation investments by a hundred
million dollars a the they’re gonna allow billionaires to contribute over three million dollars
a year to the political party their choice and you can bet most the time
that’s gonna be the Republican Party give that to put it in bill right though there’s a lot I mean
who knows what else is in there that’s just the tip of the iceberg at
the bad stuff well do you think that there that this will
be a you know challenged in the senate and come back for reconciliation or is
this gonna happen I if you’re laughing it yes now the senate will be on the way out the
door when the still comes over yeah so Sarah never bored in fact even a
little more that will house is going to do its job and stop the spill well we’re not the majority the
democrats nominally are the that still if somebody can stop it should be
there for that right so while well that’s pretty bleak this is it busy correct me if I’m wrong it seems
to me that this is just a pretty clear consequence have a citizens
united in buckley versus player owns all syriza Supreme Court decisions that
have said that basically you too can buy a politician well I take come on time think bigger
that united by a politician your by an an entire cock spent our
entire political party branch of government that’s far they’re gonna work
on the other branch a in 16 Moses the Sunlight Foundation
just released this report that that the most politically active
companies these two hundred politically active companies in America spent 5.8 billion in campaign
contributions between 2007 and 2012 and made 4.4
trillion in government benefits that a you know it ad for for cont you know
that’s a pretty good return on investment it if thats the its its core a fine any a congressman peter defazio here
yeah thanks for dropping by and giving us the
inside skinny appreciate it a day stuff always great talking