As the financial crisis jolted the nation in September, Senator Charles E. Schumer was consumed. He traded telephone calls with bankers, then became one of the first officials to promote a Wall Street bailout. He spent hours in closed-door briefings and a weekend helping Congressional leaders nail down details of the $700 billion rescue package.
The next day, Mr. Schumer appeared at a breakfast fund-raiser in Midtown Manhattan for Senate Democrats. Addressing Henry R. Kravis, the buyout billionaire, and about 20 other finance industry executives, he warned that a bailout would be a hard sell on Capitol Hill. Then he offered some reassurance: The businessmen could count on the Democrats to help steer the nation through the financial turmoil.
“We are not going to be a bunch of crazy, anti-business liberals,” one executive said, summarizing Mr. Schumer’s remarks. “We are going to be effective, moderate advocates for sound economic policies, good responsible stewards you can trust.”
The message clearly resonated. The next week, executives at firms represented at the breakfast sent in more than $135,000 in campaign donations.
He succeeded in limiting efforts to regulate credit-rating agencies, for example, sponsored legislation that cut fees paid by Wall Street firms to finance government oversight, pushed to allow banks to have lower capital reserves and called for the revision of regulations to make corporations’ balance sheets more transparent.
At times in Congress, Mr. Schumer has teamed up with Republicans, like former Senator Phil Gramm of Texas, who aggressively promoted a free-market agenda. Mr. Schumer pushed for the Gramm-Leach-Bliley law, passed in November 1999, which knocked down the walls between investment banks and commercial banks and allowed financial supermarkets to flourish.The law also weakened regulatory oversight by fracturing it among different agencies.
– From The New York Times article: A Champion of Wall Street Reaps Benefits
Great way to start off the new year for the Democrats. New Senate Minority leader, and Wall Street mega-defender, Chuck Schumer just went on Rachel Maddow’s MSNBC show and warned Donald Trump that U.S. intelligence agencies could retaliate against him for disagreeing with their claims (based on no public evidence thus far) that Russia hacked the DNC/John Podesta and released it to Wikileaks with the intent of helping Trump win the election.
Here’s what he said courtesy of The Washington Examiner:
The new leader of Democrats in the Senate says Donald Trump is being “really dumb” for picking a fight with intelligence officials, suggesting they have ways to strike back, after the president-elect speculated Tuesday that his “so-called” briefing about Russian cyberattacks had been delayed in order to build a case.
“Let me tell you: You take on the intelligence community — they have six ways from Sunday at getting back at you,” said Senate Minority Leader Chuck Schumer Tuesday evening on MSNBC after host Rachel Maddow informed him that intelligence sources told NBC news that the briefing had not been delayed.
I do NOT watch msnbc they're all Extreme Left-Wing Liberals and Pathetic Pathological Liars with their FAKE news!!
The head clown is ranting and threatening again...DRAIN the SWAMP have any meaning to you, Chucky? Those departments can be drained of all the corrupt Demonazis and replaced with intelligent cyber techs. Obviously, you Demonazis have done nothing to protect the USA in the 8 years OWEbama was in office as proven by all the hacking since 2008...
The senate must be very careful not to step on any roaches..., now.
Chuck Schumer claimed to be a friend of Donald Trump. Then he had a TV camera put in front of him and he suddenly became a friend that bears watching. I am afraid he will become a major obstacle to any progress for Trump and the people of America. However, his threat comment should be taken as a warning as I believe this may be true. The Government is no longer responsive to the people or the constitution and has become the ruling elite. Therefore, it is past time to "clean the swamp". Term Limits need to be considered as a good start to get rid of the professional politicians who are no longer responsive to the people. There are a very few exceptions to this type of politician who should be supported.
that was a threat and he is going to get hammered.
Chucky Schumer hasn't gotten the memo yet that what he has to say carries less weight then a ballon filled with hot air ! Your party lost big time Chucky and not just in the White House and the US Congress but across the nation .
A huge majority in Schumer's district voted him back in office. Goes to show you what nasty filthy self centered evil bastards live in that city. I wouldn't feel the least bit bad if he were to drop dead tomorrow.
I live in NYC and I agree with you. This city is controlled by JEWS. They the Dems will always control this city. To many Jews in this city
Yes, the progressive nasty filthy parasitic Jews actually have had a death grip on the whole state, the whole country, most of the world. The Russians are tried of them in power for several decades. Look who controls the DNC, the whole Leftist movement for decades now.
Hey chuckieboy, YOU better learn how to shut the f*ck up, you can be easily replaced, and WILL be if you continue your bullsh*t!