Read the exclusive TYT Investigates article at: https://tytnetwork.com/2018/03/05/heitkamp-backing-deregulation-bill-own...
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“This week, the U.S. Senate will consider a bipartisan bill to massively roll back regulations put in place to prevent the risky financial practices that led to the 2008 economic crisis. As David Dayen reported at The Intercept, S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, would aid big banks by expanding an exemption from certain Dodd-Frank financial regulations to include many of America’s big banks, among other favorable provisions. 13 Republicans, 12 Democrats and one Independent are sponsoring the legislation.
The provisions led Sen. Elizabeth Warren (D-Mass.) to characterize the bill as the #BankLobbyistAct on Twitter.
One of the bill’s chief architects, Sen. Heidi Heitkamp (D-N.D.), and her husband have nearly $1 million invested in two of the bill’s biggest winners, J.P. Morgan Chase and Berkshire Hathaway, according to a 2016 financial disclosure document reviewed by TYT Investigates.
Heitkamp and her spouse collectively own between $100,001 and $250,000 of corporate securities stock in J.P. Morgan, as well as an additional up to $45,000 in a J.P. Morgan fund. Heitkamp alone owns between $215,000 and $550,000 worth of Berkshire Hathaway stock, and including joint investments, she and her husband have up to $600,000 invested in the company. Together, the Heitkamps could have up to $895,000 invested in the two firms.”*