Mitch McConnell Goes To War For Wall Street: 'We Must Not Pass The Financial Reform Bill'

time.com:

Bit by bit, bipartisan negotiations in the Senate over financial regulatory reform have broken down. Richard Shelby, the ranking Republican on the Banking Committee split with the Democratic Chairman, Chris Dodd in February. Bob Corker filled the gap, stepping in to try to hammer out a compromise on an issue in which both parties see the potential for good policy and good politics. But wary of delays after a bitter health care fight, Democrats voted the bill out of committee in March with no Republican support, and now are looking to open up the legislation to amendments and debate on the Senate floor. As recently as last month, Republican leadership was open to a deal.

Read the whole story: time.com

Comments

[Tyrione]

08:16 AM on 04/15/2010

Somebody please wake up Scarborough, Pataki and Brokaw who all seem to fantasize the Republicans will take back the House.

These three relics are passed their prime.

[IMSickOfAllOfEm]

04:42 AM on 04/15/2010

In case you are wondering who owns Mitch McConnell......

Top 10 Interests Funding
I
Interest Contributions
Securities & Investment $1,155,024
Lawyers/Law Firms $915,933
Real Estate $725,130
Health Professionals $723,500
Banks and Credit $571,250
Insurance $564,783
Republican/Conservative $520,358
Lobbyists $509,305
Oil & Gas $464,350
Pharmaceuticals/Health Products $425,785

Source: http://maplight.org/us-congress/legislator/593-mitch-mcconnell

[RitaS]

02:47 AM on 04/15/2010

Hey if the Repugs DON'T side w/ Wall Street, they'll risk the spigot of MONEY being turned OFF.....

[Kamenskiy]

09:30 PM on 04/14/2010

So, the Corporate Welfare Party sides with the banks. Not much of a surprise there. After all, if the banking and insurance giants build another colossal pyramid scheme, the American taxpayer will always be there to bail them out when it comes crashing down.

[thepoliticalcat]

06:31 PM on 04/14/2010

Republicans must be desperate! They're openly and blatantly siding with the bankers against the people, now. Wow.

[NVGarcia]

04:17 PM on 04/14/2010

Of course the Republican Party is for Wall Street! They are rich and for the rich. They don't care about the poor or what's left of the Middle Class. If it were up to them there would be a two class system in the United States - The Rich and The Poor.

[johndtuttle]

01:14 PM on 04/14/2010

Senator Palpatine's finest hour.

[justoverit333]

01:01 PM on 04/14/2010

The Party of Purity does not care about the middle class,
small businesses, families struggling, the environment,
alternative energy or education. When will people wake
up and realize they are arguing against their own interests
because of race and guns.

[Gaylord P Farqua]

12:44 PM on 04/14/2010

After assuring the "boys" on Wall Street of the undying support of the GOP, Mitch was seen hurrying to a meeting with the GOP's crack team of slogan makers to cook up as much scary s**t as they can reducing a campaign to regulate the very thieves who stole the 401K plans of American workers to making deregulation into a socialist plot to seize the government and control everything including the Miss America contest. Unfortunately the chronically dim among us, the Presidential election only voters, and all of the Tea Party and its Cuckoos's Nest of affiliates will shallow it whole. The GOP, since learning to save money from not flying first class to pole dancing conventions, are anxious to underwrite the cost of the signs. They are hoping for better spelling and complete thoughts.

[Rastaman1967]

12:24 PM on 04/14/2010

does it makes sense to even waste our time listening to these republicans anymore. They've made a calculated decision to block everything with no alternative solutions that will protect the everyday working Americans. Now we hear the Minority leader taking his talking points from Frank Luntz. Folks, these are not very smart people and if they are, they certainly aren't thinking clearly about the interest of America as a whole. The idea that you're going to block everything (yes, it may not be the strongest bill), makes no sense. The republicans is only thinking about political gains, while disregarding the pain Americans are going through, even their supporters. No one can convince me that their supporters are well off and don't need help as all of us do. When you base your decision to support or not to support policies based on emotions, hate and anger, you will always loose.

[Gaylord P Farqua]

12:30 PM on 04/14/2010

Excellent observation and right on target.

[JulieCarol]

11:41 AM on 04/14/2010

Typical rethug strategy...scare the dumb-dumbs by telling them that financial regulatory reform is about protecting the big banks. They won't know any better.

[vippy]

11:20 AM on 04/14/2010

Mitch is on the side of Wall Street. The people despise Wall Street. Should be easy to see on whose side he is on and it is not us. Wall Street who needed the taxpayers' money to stay afloat now want no regulation to reign them in so they can continue to rob us more. How can anyone with a brain support the GOP with an attitude like that, against banking regulations, against unemployment, against healthcare, against min. wage increase. I wonder how can anyone vote for such a party that is against everything that benefits the masses in this country?

[gra8whit]

11:50 AM on 04/14/2010

I think it's because there are Americans that believe that they are truly islands totally independent from everyone around them. I've been trying to figure them out, but it's apparent from their rants - let me be free to do whatever I want with no government in the way. Nevermind that they drive roads build by the government, they flush toilets connected to government-built sewer systems, they're drugs are proven (mostly) safe by government regulators, financial institutions are forced to disclose provisions of accounts and promissory notes, and they are protected by the most powerful military in the world. Besides that, they're true islands onto themselves.

[thepoliticalcat]

06:29 PM on 04/14/2010

Never mind that when they finally elected their Dream Leader to power he promptly privatized many of the functions of government, richly rewarding his erstwhile supporters with tainted heparin, pet food, baby food, toys, and drywall. You know, benefits of ending gov't interference and allowing somebody (not them, obviously) to make great heaping gobs of profit from the misery of their fellow citizens.

[azdirk]

11:13 AM on 04/14/2010

A Parable. There once was a little boy who was very very independent. As he grew, he also began to be very very naughty. The bigger and naughtier he became, the closer he came to an ogre. Eventually the ogre snatched him up and was about to devour him. His daddy came forward and snatched the boy from certain death. His daddy then warned him. "If you do that again, I won't help you. You can grow even larger--as large as you want; but if you become naughty again and get too close to the ogre, I'll let him devour you." The boy knew that what is daddy said wouldn't happen because the ogre would then devour his daddy as well. He knew he could be as naughty as he wanted because his daddy would have to save him again.

[kevel]

10:51 AM on 04/14/2010

McConnel had better get out of the way, I hear Obama is back in his Toyota!!

[babyboomerorig]

10:16 AM on 04/14/2010

For years we've all heard "keep the government out of our business", so who do you want running "our business"?

Looks to me like the banks and investment houses have been doing it for 20 years and nobody's raising much of a stink about it.

Get big business out of running our country (and the Chamber of Commerce) and let the government get back to running the country.