OPINION | Whether she’s calling herself a Democrat or an independent, Kyrsten Sinema's voting record is the same. And it marks her a shill for the banking industry.
of Arizona shamelessly issued what she titled a “Statement on Steps to Protect the U.S. Banking System.”
As a member of the House Financial Services Committee, she was a supporter of H.R.992—The Swaps Regulatory Improvement Act of 2013—which sought to exempt certain financial instruments from some Dodd-Frank restrictions. Bank lobbyists drafted key amendments, which appeared word for word in the bill she supported in the committee and when it reached the House floor. The measure passed, but this was during the Obama administration and it had no chance of becoming law.
After Trump became president, Sinema and a majority of the House Financial Services Committee supported the far more extensive Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018. Sinema sponsored unrelated accompanying measures protecting children from identity theft and seniors from scammers. The immediate effect was to divert attention from the bill’s ultimate intention, which was to let the banks do whatever they want.
“These important reforms will help protect the financial security of Arizonans young and old as they plan for homeownership, a college education, or a stable retirement,” she said in a press release.
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