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EU Continues to Protect Banksters; The 37 Senators who Voted Against Students and for Millionaires
Despite Crisis, Europe Continues to Protect Its Banksters. More than six years after the global financial crisis broke out, European Union (EU) countries continue to protect banks and investments funds from tougher rules, despite abundant evidence of recurrent criminal or reckless activities in the sector, and new accumulation of enormous financial risks. The latest in a string of scandals involving banks was the revelation in May that at least seven European banks or banks operating in Europe had colluded to falsely fix the Euro Interbank Offered Rate (Euribor).
The 37 Senators Who Today Voted for Millionaires Over Students. Senate Republicans today sided with 22,000 millionaires over 40 million Americans with student debt by blocking the Bank on Students Emergency Loan Refinancing Act. The 56-38 vote fell shy of the 60 needed to prevent the bill, sponsored by Sen. Elizabeth Warren (D-Mass.), from being filibustered. The bill would have allowed existing student loan borrowers the chance to refinance their debt at today’s lower interest rates and would be fully paid for by enacting the “Buffet rule,” which ensures billionaires and millionaires pay their fair share of taxes.
Sources: IPS, Truthout.
Paul Brown is a retired neuroscience professor whose primary interests are human rights, overpopulation, mass extinction, global warming, and the military-industrial complex. Links to all his Before It’s News postings are at /contributor/pages/189/210/stories.html.
