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Senate votes to loosen key Dodd-Frank banking regulations

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The US Senate voted Wednesday to ease banking regulations enacted after the financial crisis that were aimed at protecting taxpayers from fresh economic trauma and new bank bailouts.

In a show of bipartisan support, the upper chamber of Congress voted 67 to 31 in favor of easing some of the regulatory scrutiny imposed on banks in the Dodd-Frank Act of 2010, while leaving key elements of the law in place.

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The measure must now go to the House before it can reach President Donald Trump’s desk.

The White House quickly praised the Senate passage of the bill, which it said shields financial institutions from “excessive regulation.”

“The bill provides much-needed relief from the Dodd-Frank Act for thousands of community banks and credit unions and will spur lending and economic growth without creating risks to the financial system,” press secretary Sarah Sanders said in a statement.

The Senate vote came 10 years to the day after the collapse of New York-based investment bank Bear Stearns, an action widely seen as marking the beginning of the financial crisis that rocked the global economy.

Democrats were split on the bill, with liberal Senator Elizabeth Warren leading the charge against it and branding the legislation a gift to Wall Street.

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Instead of passing what she decried as the “Bank Lobbyist Act,” Congress “should be marking the tenth anniversary of the financial crisis by strengthening rules on banks and bankers so Wall Street can never again get away with cheating Americans and crashing the economy,” Warren said in a statement.

Supporters applauded the bill for freeing smaller banks and credit unions from onerous regulations aimed at reining in major financial institutions swept up in the financial crisis, and allowing them to focus on community lending.

“Passage of this bill is a big win for Main Street in rural America and our families, farmers, and small businesses,” said Senator Heidi Heitkamp, a Democrat who is up for re-election this year in North Dakota, a state Trump won overwhelmingly in his 2016 presidential race.

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2020 Election

The truth about Bernie Sanders’ medical records: They’re encouraging — but a key detail is missing

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When Sen. Bernie Sanders (I-VT) landed in the hospital at the beginning of October 2019 after suffering a heart attack, it became guaranteed that his health would be an issue in the 2020 Democratic primary. The 78-year-old is known for his passionate rallies and reveling in the rigors of the campaign, but a candidate's health condition can change the course of an election, and a serious medical crisis like a heart attack puts into question his ability to do the job.

To help allay these concerns, Sanders assured voters that he would release "comprehensive" medical records. But he hasn't, and now it seems he doesn't plan on doing it. Instead, he released three letters in December from doctors describing his health positively and vouching for his ability to handle the campaign trail and potentially, the presidency.

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2020 Election

How the question of who killed JFK emerged in an unexpected way on the 2020 campaign trail

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On Monday night in Fairfax, Virginia, Donald Jeffries, author and talk radio host, asked Democratic presidential candidate Tulsi Gabbard about a book she was seen carrying, “JFK and the Unspeakable.” Published in 2008, the book is a Catholic philosopher’s meditation about the assassination of liberal president John F. Kennedy on November 22, 1963, one of the great historical crimes of American politics.

Gabbard replied she had not finished the book, but “from what I have read, it… speaks to what happened [on November 22] in a way that I haven’t seen anywhere else.”

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Trump whines about losing the Time ‘Man of the Year’ award he lost to a teenage girl

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President Donald Trump goaded his audience into booing a teenager during a campaign rally in Colorado Springs on Thursday.

Trump said, "I got beaten up by Greta" -- in reference to Swedish climate change activist Greta Thunberg, who recently celebrated her 17th birthday.

The leader of the free world went on to complain about Thunberg being declared TIME magazine's "Person of the Year" award in 2019.

He said that many women wish it was still "Man of the Year" and suggested separate categories by gender, which would prevent him from competing against European teenage girls.

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