Tuesday, April 27, 2010

So his toupee is not too tight after all

We were curious yesterday as to why Sen. Ben Nelson voted with the Republicans in support of their banking masters. It seems the answer is as obvious as the nose on his face.
Democrats were surprised on Monday evening when Sen. Ben Nelson (D-Neb.) did an abrupt about-face and became the only Democrat to help filibuster legislation to revamp Wall Street regulations.

The removal of a provision that would have dramatically benefited financial tycoon and Nebraska native Warren Buffett, it was said, played a role in the Senator's flip.

"He was on board until today and the only thing that changed was the removal of that provision," said one Democratic aide, who definitively said Nelson changed his vote because the Buffett carveout was removed...

Earlier in the day, Senate negotiators agreed to remove a provision that Nelson had inserted last week, which would have exempted any existing derivatives contracts from being subjected to new capital requirements. That provision had been pushed by Buffett's Berkshire Hathaway Inc., which has $63 billion in existing derivatives contracts and would have to set aside $8 billion to cover potential losses on those contracts if the legislation were to pass.
Poor old Warren would have had to prove he could cover his bets. Despite the smile and folksy ways, old Warren is just another greedy fuck gambling on Wall St. And speaking of the nose on his face, with a schnozz that big you just have to wonder when Ben's heart is going to quit on him, like he quits on the Democrats.

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