Sunday, April 22, 2018

Lujan Grisham votes with Repugs on banks

Indeed she did, this candidate for New Mexico Governor. Not only Sanders and Warren voted against this bank deregulation but so did 102 other Dems including New Mexican Rep. Ben Ray Lujan. After the '08 crash Dodd-Frank required banks with assets over $50 billion to undergo financial stress tests. The Bill purports that it affects too many small, community banks so it raised the threshold to $250 billion. But there are few small banks that have that amount of assets, so in effect it is letting bigger banks off the hook from regulatory scrutiny.

Why did she do it? According to Sen. Joe Cervantes, also a candidate for NM Governor: "Unfortunately it’s no surprise Congresswoman Lujan Grisham chose bankers over New Mexicans. She has accepted $2,140,024 from political action committees and over $100,000 from lobbyists."

I asked Lujan Grisham if she would refuse PAC or corporate money and it's no surprise she has not answered. Progressives must demand that their candidates refuse corporate money because these otherwise good candidates are easily and inevitably corrupted like this case in point.

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