“It’s official: House Republicans will again try to hamstring the Volcker Rule, after Democrats knocked down a previous effort last week.

The vote will come within days, if not hours. Under conditions laid down by the House Rules Committee late Monday, the GOP will be able to easily pass the legislation as part of an 11-point deregulation plan without Democratic support, while ignoring any Democratic amendments. President Barack Obama has threatened to veto the bill.

The Volcker Rule bans banks from speculating in financial markets with government-backed funds. When federal regulators approved the rule in late 2013, they banned banks from owning complex securities known as collateralized debt obligations — risky pools of corporate debt that are sliced into smaller packages for sale to banks. The GOP bill slated for a vote on Tuesday would let banks hold onto CLOs until July 2019 — a provision that many banking experts view as part of a piecemeal effort to repeal the 2010 Dodd-Frank financial reform law in its entirety.”* The Young Turks hosts Cenk Uygur breaks it down.

*Read more here:
http://www.huffingtonpost.com/2015/01/12/republicans-dodd-frank-attack_n_6459722.html