Wall Street
GOP to Wall Street Lobbyists: Roy Blunt Will Fight For You
At an American Bankers Association government relations summit this week, Sen. Richard Shelby (R-AL) told an "enthusiastic crowd" that electing Roy Blunt to the U.S. Senate "would help immensely" in their effort to block meaningful financial reform. Reuters:
Also at the conference, attendees told Republican Senator Richard Shelby they view as unfair the Obama administration's proposal to set up a new government watchdog for financial consumers that would protect Americans from deceptive credit cards and abusive mortgage loans.
Asked what bankers could do to change the agenda, Shelby said, "What you can do is elect more Republicans to the U.S. Senate, that would help immensely." He asked each of the attendees to send $10,000 to Roy Blunt, a former House leader who is now running for Senate as a Republican in Missouri.
It sure is nice of Shelby to make it plain for us: Roy Blunt will look out for the Wall Street bankers, not the citizens who need protection from greedy and unethical Wall Street bankers.
Read More »GOP To Wall Street: We're Your Friends
Republicans are explicitly telling Wall Street donors that they'll do less to curb their excesses and less to protect the general public than Democrats. The WSJ:
Read More »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.
GOP strategists hope to benefit from the reaction to the White House's populist rhetoric and proposals, which range from sharp critiques of bonuses to a tax on big Wall Street banks, caps on executive pay and curbs on business practices deemed too risky.
Republicans Aren't Keen On Banks Paying Back Their Bailout Funds
I thought this was a particularly interesting moment last night, when Republicans sat with arms crossed and faces grumpy at the suggestion that big Wall Street banks should have to pay back the taxpayers who rescued them.
Those poor big banks -- always getting picked on.
Post Dispatch Welcomes Blunt's Self-Serving, Selective Outrage About Special Treatment For Wall Street
Responding to Roy Blunt's recent grandstanding about wall street firms receiving early H1N1 vaccine shipments, the Post-Dispatch today welcomes Blunt's newfound interest in the special treatment received by the folks on Wall Street.
Whatever the reason, we welcome Mr. Blunt to the populist outrage front. Mr. Blunt was in Congress throughout the late 1990s and early 2000s when, during both Republican and Democratic administrations, the banks got everything they asked for, subsequently wrecking the economy. Mr. Blunt has been a reliable pro-banking industry vote, from repealing the Glass-Steagall Act in 1999 to refusing to allow bankruptcy judges to modify mortgages in 2009.
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