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Senate Republicans Blast Regulatory-Overhaul Bill
Wall Street Journal ^ | April 13, 2010 | Victoria McGrane

Posted on 04/13/2010 4:43:15 PM PDT by La Enchiladita

WASHINGTON—Senate Republicans on Tuesday sought to paint a Democratic financial-regulation bill as an endless bailout package and accused Democrats of pushing the proposal in a partisan direction.

Fresh from a two-week recess, top Republicans came out swinging at the package, which could come up for debate in the full Senate later this month.

Senate Minority Leader Mitch McConnell (R., Ky.) said in a Senate floor speech that his party couldn't support Democratic legislation aimed at overhauling financial-sector regulation, because it "institutionalizes" future taxpayer bailouts of Wall Street firms.

Mr. McConnell said the legislation would give the Federal Reserve "enhanced emergency lending authority that is far too open to abuse."

The bill was approved by the Senate Banking Committee last month without any Republican support. Senate Banking Chairman Christopher Dodd (D., Conn.) spent months unsuccessfully trying to negotiate with Sen. Bob Corker (R., Tenn.) and other Republicans on the committee.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Front Page News; Government
KEYWORDS: chrisdodd; finance; gop; mcconnell; regulation; republicans; wsj
The bill is expected to come to the Senate floor for consideration by lawmakers in the next few weeks. Democrats in the House passed their own overhaul of the regulatory system last year, also without any Republican support.


1 posted on 04/13/2010 4:43:15 PM PDT by La Enchiladita
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To: La Enchiladita

The GOP better find their gonads and start exposing the treason that is taking place and the plot to destroy this country. Name names and start the impeachment.


2 posted on 04/13/2010 5:37:51 PM PDT by ExTexasRedhead (Clean the RAT/RINO Sewer in 2010 and 2012)
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