On his way out the door, Pat Toomey helped block sweeping anti-money laundering legislation that was created to choke off dirty money pouring into the U.S. from drug traffickers, oligarchs and corrupt foreign leaders. It's about what I'd expect from one of Wall Street's pet senators! Via the Pittsburgh Post-Gazette:
The outgoing Pennsylvania Republican pushed last week to halt the reforms from being included in the nation’s annual defense spending bill in a blow to advocates who had gained bipartisan support to wage the most comprehensive crackdown on money laundering in a generation.
Citing the flow of suspicious money into the country, lawmakers say the ENABLERS Act targets the people who have long helped drug kingpins and others move their money into the US – and hide it — including some lawyers, accountants, and financial advisors.
Mr. Toomey declined an interview request through his staff, but a top Republican aide on the Banking Committee said the veteran lawmaker objected to the legislation being tucked into the National Defense Authorization Act — a must-pass bill — without any hearings.
Sure, Pat, that's what it was. Not you lining up your think-tank and/or Wall Street lobbying gig for your next act. Fortunately, it might still make its way into next year's omnibus spending bill.
