White House Launches Campaign Against 'Foolish' McConnell, GOP 'Fantasy' On Financial Reform

06/16/2010 05:12 am ET | Updated May 25, 2011

The White House is launching a tough new campaign against Senate Minority Leader Mitch McConnell (R-Ky.) and the GOP generally on financial reform, a top-ranking Democratic strategist told the Huffington Post.

With Sen. Susan Collins (R-Maine) refusing to commit to voting against financial reform and even National Republican Senatorial Committee Chairman John Cornyn (Texas) warming to the idea of breaking up the big banks, it appears McConnell will have a tough time blocking the reform bill.

In the meantime, the White House hopes to make further headway by accusing McConnell of simply reciting talking points disseminated by Republican pollster and strategist Frank Luntz, as in the "Luntz Led" video released Thursday night by the Democratic National Committee:

"We're not about to let them get away with planting the seeds of these bogus claims with the public the way they did for a time on health reform," the Democratic strategist said. "McConnell's arguments that the Democrats' plan for Wall Street reform will perpetuate bailouts is pure fantasy cooked up by Frank Luntz in a right-wing focus group ... If Mitch McConnell wants to look foolish and to look like the bag man for big banks that he and his colleagues are, we're glad to help."

Earlier, Senate Banking Committee Chairman Chris Dodd (D-Conn.) took to the Senate floor to slam Republicans who sign McConnell's pledge to block Wall Street reform, alleging that they were motivated simply by politics and hadn't read the bill.

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