Press J to jump to the feed. Press question mark to learn the rest of the keyboard shortcuts
Log In
Found the internet!
Create an account to follow your favorite communities and start taking part in conversations.

Posts about Mike Crapo

Subreddit Icon
r/Idaho
49.0k members
Idahoan's Gem State subreddit!
Visit
Subreddit Icon
r/politics
8.4m members
/r/Politics is for news and discussion about U.S. politics.
Visit
Subreddit Icon
r/Boise
51.0k members
All about Boise and the Treasure Valley. Any posts relevant to the Treasure valley that follows the posted rules is welcome. From potato memes to the potato drop.
Visit
97
Subreddit Icon
โ€ขPosted by6 months ago
Archived

Besides some far away CA bank, locally, Zions Bank has been hit hard due to holding long term treasuries similar to SVB. Zions seems ok for now, but a shuttering of downtown Boise's number 1 piece of real estate probably would not be a good thing.

Trying to keep this Crapo timeline short as possible and first section sticks to just the facts.

I don't get paid to go in depth here, and this 2nd section is opinion more or less. Going backwards.

  • SVB bank collapse and a loss of 30% of Zions Bank stock is arguably directly related, at least in part, to the May 2018 bill Crapo wrote and voted for. It only took 5 years this time, compared to Glass Steagall repeal taking 8 years to lead to the big short.

  • Crapo voted no on 2008's TARP Act. Far as I know he's never explained why. Many other Republicans voted yea on that. 75-24 iirc. Ted Kennedy was out sick or it would have been 76-24.

  • Crapo voted for repeal of Glass Steagall which arguably, at least in part, led to the 2008 bank failure mess.

Note: might have to come back and make edits.

97
82 comments
225
Subreddit Icon
โ€ขPosted by2 years ago
Archived

So Senator Crapo, who coincidentally (I'm sure), gets a crazy amount of money from the pharmaceutical lobby, just blocked a bill that would lower the cost of prescription drugs and stopped price gouging. Let's all call his office and let him know that we, the people, disagree with big pharma, and if he wants our votes, he needs to get the heck out of the way and quit blocking affordable prescription drugs. We know what his "more cures" bill is a sham. It does nothing to lower drug costs, and was written by the industries own lobbyists! His office may be for sale, but we aren't.

Take a moment to call them all!

EDIT: It was correctly pointed out that I didn't include a reference to the actual bill, and that I then linked the wrong one. Not my best day! It is the Cutting Medicare Prescription Drug Prices in Half Act which would reduce the cost of drugs by pricing them the same for Medicare as they cost the VA. Essentially, the government negotiates costs for the VA, but drug companies make up for that discount by overcharging Medicare, driving up costs, and profits (which make their way into certain Senators' pockets.) Crapo won't even let a vote take place. If the bill fails, it fails, but at least let a vote take place.

Crapo has his own "drug price reduction" bill, which prefers a "market based" solution to lower drug costs. The problem is that it does nothing to actually reduce the cost of drugs, and was written by the drug lobby. It simply protects the drug company's profits.

Boise 251 E. Front St., Suite 205 Boise ID, 83702 Phone: (208) 334-1776 Fax: (208) 334-9044 Get Directions

Idaho Falls 410 Memorial Dr., Suite 204 Idaho Falls, ID 83402 Phone: (208) 522-9779 Fax: (208) 529-8367 Get Directions

Pocatello 275 S. 5th Ave., Suite 100 Pocatello, ID 83201 Phone: (208) 236-6775 Fax: (208) 236-6935 Get Directions

Coeur d' Alene 610 Hubbard, Suite 209 Coeur d' Alene, ID 83814 Phone: (208) 664-5490 Fax: (208) 664-0889 Get Directions

Lewiston 313 'D' St., Suite 105 Lewiston, ID 83501 Phone: (208) 743-1492 Fax: (208) 743-6484 Get Directions

Twin Falls 202 Falls Ave., Suite 2 Twin Falls, ID 83301 Phone: (208) 734-2515 Fax: (208) 733-0414 Get Directions

Washington, DC 239 Dirksen Senate Office Building Washington, DC 20510 Phone: (202) 224-6142 Fax: (202) 228-1375 Get Directions

225
34 comments
151
151
24 comments
48
48
63 comments
25
25
51 comments
61
61
22 comments
64.6k
64.6k
430 comments
12
12
2 comments