<\/a>In one of the most astonishing speeches ever given from the senate floor, progressive Democrat, Senator Elizabeth Warren, called out the Obama administration for being a wholly owned subsidiary of Citibank. Her speech was prompted by a Wall Street bomb inserted at the last minute in the Omnibus\u00a0spending package\u00a0gutting a key provision from the already watered down Dodd-Frank Act\u00a0of 2010. That provision regulated how banks trade in derivatives. The banks wanted to, once again, gamble with FDIC insured deposits and, if the derivative deals blow up as before, to be bailed out, once again, by taxpayers.<\/p>\n

Obama, a master of triangulation, urged that, in the spirit of bipartisanship, members of Congress vote for the bill, which he has since signed. Senator Warren says the deregulation of derivatives was in the bill because Obama and his Citibank friends\u00a0wanted it there.<\/p>\n

\u00a0Warren\u2019s extraordinary\u00a010-minute speech<\/h2>\n