It’s health care reform all over again.
In February, the Wall Street Journal reported that Republicans were "stepping up their campaign to win donations from Wall Street. In discussions with Wall Street executives, Republicans are striving to make the case that they are banks’ best hope of preventing President Barack Obama and congressional Democrats from cracking down on Wall Street."
Two months later, it seems the GOP is relying on the same strategy. In return for obstructing Democratic legislation to hold Wall Street CEOs accountable, Republican lawmakers are pressing bankers for financial help heading into the November elections.
FoxBusiness.com reported [Faux Noise delinked] that Senate Minority Leader Mitch McConnell (R-KY) and National Republican Senatorial Committee chairman John Cornyn (R-TX) had a "private meeting" with "25 Wall Street executives, many of them hedge fund managers." After listening to "numerous complaints the executives have with the bill," the GOP lawmakers reportedly assured the bankers that Republicans would be their ally in the fight. After discussing likely Republican electoral gains this November, "McConnell and Cornyn made it clear they need Wall Street’s help."
A day after the story broke about McConnell’s "private meeting" with Wall Street bigwigs, he stormed onto the Senate floor to spout false attacks on Democratic efforts to hold those bankers accountable. The timing was no coincidence.
Republicans are brazenly playing politics by putting the needs of big banks and credit card companies above struggling American families. Now is the time to hold Wall Street accountable for causing the worst recession in a generation… [emphasis added]
Inserted from <Huffington Post>
Rachel Maddow and Howard Fineman debunk the GOP lies and expose the source of the script for their talking points.
Visit msnbc.com for breaking news, world news, and news about the economy
Let the GOP lie. But we must keep pointing out their lies and making people aware that they are accusing Democrats of doing exactly what the GOP is doing. The problem with the legislation under discussion is that it does not go far enough.
14 Responses to “GOP Lies on Financial Reform”
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The VERY first thing that needs to happen is the re-institution of Glass-Steagall.
When the left becomes afraid of where the right is getting their money from and how much money it is then we have given into panic and will become indolent. I for one know that I have something more powerful than money from a corporation…arms and legs and a mouth.
Amen, Mark.
Well, the Republicans lie about everything else, so why not financial reform? Adlai Stevenson complained about Republican lying 50 years or so ago. If he could see today’s GOP in action, he’d REALLY complain! How McConnell and Boner can stand before a microphone with a straight face while they spit our their obvious bullshit is waaaaayyyy beyond me! They don’t want reform at all. They want things just as they were previously. In other words, they want to cause another Great Depression.
They just want power. They don’t care how mch getting it hurts the country.
Keeping a heavily regulated eye on Wall Street would get a lot of support from a lot of people who vote and the Democrats should remember that and hammer it home.
Right on Holte. We keep on exposing the lies.
It looks like the GOP’s votes are being bought. Where are those principles they claim to have? It is apparent to me that the GOP are just flaunting their corruption now, selling Americans out for corporate interests only to have a bigger piece of the political pie…
Kevin, Dem votes are being bought, sadly. GOP voted HAVE BEEN bought for ages.
I can’t believe that anyone believes the shit that comes out of their mouths. I’m with you TWM; Glass Stegall was our down fall – it allowed the banks to take on too much risk, putting everyone in bad shape. We saw what happens with that in 2008.
Lisa, most of the MSM parrot what they day without fact-checking.
I just read somewhere else that Chris Dodd and John Warner (a Republican!) both gave blistering speeches on the Senate floor, blasting McConnell for reciting Frank Luntz’ talking points word for word without even knowing what he was saying. This is what we need a lot more of.
Tom, isn’t he a conservative Democrat? But he did blast McConnell.
Tom I am so sick of this crap. McCain wants us to attack Iran, Boehner, Mitch, Bachmann, every frigging one of them are mad. This is very disconcerting and destabilizing.
Jim, it certainly is. That’s what happens when one party tries to prevent the other from meeting the county’s needs for political gains.