consumer protections board because they didn t like the underlying dodd/frank law in which it was created. she ran for the senate after they blocked her with filibuster. same thing with merrick garland who never got a hearing in the last year of the obama presidency. there is plenty of dirt under the fingernails on both sides. the democrats have limited leverage. the question is from their point of view whether they can use the process to begin to drive a story. the trump presidency, the trump agenda in many ways is offering a wish list with one big exception of tariffs for corporate america presented under the rubric of providing benefits for american workers. in many of the nominees i think they re hoping to begin to drive a story that what he promised is no the what you are getting, whether environmental or consumer protections or workplace protections, being rolled back. it s a government delivering something different than promised. whether they can make the case is something else
high-profile democrats like senator elizabeth warren of massachusetts, because there is something in here that rolls back some of the so-called dodd/frank law. she was on the senate floor saying it would hurt consumers and put more money in the banks of wall street. wolf? and nancy pelosi, the minority leader in the house, issued a statement expressing concern about various provisions in the legislation as well, right? reporter: she did. on this provision and also that campaign finance provision that i had in the piece, allowing people wealthy donors to give even more money to parties than before. this is going to be bipartisan in support and bipartisan in opposition, which is exactly what people assumed. but that s what happens when you have a very, very big bill with a lot of different interests are going the last minute before congress leaves town. thanks very much, dana. critically important issue right now, the funding of the federal government. up next, we get a sense o
could donate to the rnc or dnc goes up to $324,000. that is something that s caused a lot of consternation on the left. the other thing, a change to the dodd/frank law. something slipped into this spending bill would, in fact, allow for banks that are federally insured to be involved in credit default swaps. that s a financial instrument a lot of people blame the 2008 recession on. that is something that has upset a lot of people on the left. i counted three e-mails that nancy pelosi s press office has sent out in the last hour and a half coming out against this bipartisan bill. on top of that, elizabeth warren, in the democratic leadership, said if this bill were to pass, it would confirm the suspicions of the american people that the system is rigged. luke, we reporter: why is this important? why is this important? because john boehner is going to lose between 40 and 80 republicans who are upset about
not just gutting the health care law but cutting taxes for millionaires or rolling back big banks, polluters or other pet projects they would like to see, that they would push the button, throw america into default for the first time in history. so the list of demands from republicans on the debt ceiling and the shut down, what do they want? the first investigation of the house debt ceiling bill had an array of conservative goodies. one-year delay of owe many about ma care. approval of the pipeline, expedite tax reform, rolling back some provisions in the dodd/frank law. it didn t get support among the house republican conference. we were supposed top vote on that sometime today, maybe even yesterday. sort of to allow house leadership to show, look, the health care issue, we can litigate that fight in the debt
necessary. the problem with the alternative approach from brown and vitter is that it s just this very gross leverage cap where you say, well, we ll make the banks safe by telling them that they have to have lots of equity. and i think that s a good policy. but if you just do that and you don t also do the complicated dodd/frank approach, then the banks can stuff themselves with really risky loans, where even if you have a lot of equity, you can still have failure. so i think you need both. i have his frustration. there s a lot of value in the dodd/frank law. there are things that it s doing that will make the financial system safer. i think he deserves some credit for that and i think he feels like he s not getting it. but it feels to me like part of the issue here has to do with this idea that sort of capitol greed finds a way. so this is your point about both simple and complex absolutely, absolutely. capital and greed have found a way here. this is 2,300 pages, the dodd/frank