Sen. Dodd blasts Republican leader for lying about his bill

[babylonsister]

* Posted on Wednesday, April 14, 2010

Sen. Dodd blasts Republican leader for lying about his bill

By Kevin G. Hall | McClatchy Newspapers


WASHINGTON — The architect of sweeping legislation that would revamp financial regulation took the Senate floor on Wednesday to accuse the Senate Republican leader of lying about the bill and being in Wall Street's back pocket.

Senate Banking Committee Chairman Christopher Dodd, D-Ct., delivered a blistering 20-minute speech that included the revelation of a political talking points memo from a Republican strategist that was virtually verbatim to the criticism voiced Tuesday by Senate Minority Leader Mitch McConnell, R-Ky.

McConnell had accused Dodd of drafting partisan legislation, even though the Banking Committee chairman has worked for roughly half a year with key Senate Republicans and incorporated many of their ideas into his bill. McConnell also said the bill continues controversial bank bailouts, which it does not.

"It's a naked political strategy," thundered a visibly upset Dodd. He held up a leaked memo attributed to GOP strategist Frank Luntz that advises Republican lawmakers to accuse Dodd and other Democrats of perpetuating bailouts for giant banks.

"Nothing could be further from the truth. The bill as drafted ends bailouts," Dodd said, describing how regulators would get new powers to dissolve large financial institutions, even healthy ones if their size is deemed to threaten the broader financial system.

more...

http://www.mcclatchydc.com/2010/04/14/92150/sen-dodd-blasts-republican-leader.html

[Tennessee Gal]

1. Good for Dodd!!!!

They need to confront the lies right on the Senate floor!

[Enrique]

2. McConnell's speech was astounding

it was exactly the opposite of the truth. I was wondering, how can the democrats not be furious, including Obama? I'm so relieved to see Dodd get this mad.

Now it's up to the reporters. They should express the disgust at McConnell that he deserves.

[Lochloosa]

12. ...

“I am absolutely confident that the bill that emerges is going to be a bill that prevent bailouts — that’s the goal,” Mr. Obama said, with Mr. McConnell sitting impassively nearby.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4343434

[indepat]

3. one would think that McConnell had had so many blistering rockets shot up his ass hole

that his colon would be permanently scorched. :-)

[POAS]

4. Republican lies, phlegm at 11...n/t

[zipplewrath]

5. I presume the WH strategy?

I presume the WH strategy will be to try to find common ground with the GOP in hopes of bringing them on board. Can we look forward to dumping any progressive ideas from the bill in hopes of attracting bi-partisan support? When will Obama brag about rejecting progressive ideas? Will he find an old GOP proposal from the Bush 41 years to try to model the legislation upon? Will they dump the provision allowing them to break up banks, but require all citizens to have bank accounts? Will they demand that the banks limit themselves to only 3X the risk that is currently allowed for federally insured banks? Will he fight for more funding to start community banks, to serve the poor who are now required to have bank accounts?

[babylonsister]

6. "The Obama administration is driving a very hard line on financial reform."

Too bad. You'll have to find something else to complain about. :eyes:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x268799

[zipplewrath]

10. What constitutes a "hard line" is my concern

I remember "robust public option" too.

[Botany]

7. Republicans lying?

I'm Shocked

http://www.youtube.com/watch?v=T1DEG6BWgp0

[quiet.american]

8. Excellent, it's about time prominent Dems call out the GOP on their continuous lies.

And of course, Boehner had to get his lies in, too (from the same article):

Earlier Wednesday President Barack Obama met with lawmakers from both parties at the White House, and shortly afterward, as if to underscore Dodd's point, an aide to House Republican leader John Boehner of Ohio sent an e-mail to reporters that mischaracterized what Dodd's bill would do.

"It sets up a fund for permanent bailouts that guarantees taxpayers are going to have to keep subsidizing irresponsible behavior on Wall Street," the email said incorrectly.

----------------------------
And what's worse, Boehner and McConnell have been over at the banking houses, hat in hand, exhorting bankers to give to the GOP so that the GOP could make sure that's exactly what would happen!

[w4rma]

9. Very good. (nt)

[tmyers09]

11. Mitch McJowls blatantly lying? Who would have thought?

[Skidmore]

13. Wrong!

Mitch has no jowls. You have to have a chin to be able to have jowls.

[malaise]

14. Even GEM$NBC said that Kentucky Fried facts

was lying.