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Reid: GOP is 'making love to Wall Street'
The Hill ^ | 05/05/10 | Alexander Bolton

Posted on 05/05/2010 1:47:06 PM PDT by MissesBush

Senate Majority Leader Harry Reid (D-Nev.) accused Republicans Wednesday of “making love to Wall Street.”

Reid charged that Republicans are stalling action on a Wall Street reform bill because “they are having difficulty determining how they’re going to continue making love to Wall Street” by resisting banking regulation.

The sweeping Wall Street reform bill had stalled on the Senate floor because of a partisan disagreement over how to handle amendments, though shortly after Reid’s comments, Senate Banking Committee Chairman Chris Dodd (D-Conn.) announced a breakthrough in negotiations.

The deal Dodd struck with Sen. Richard Shelby (R-Ala.), the ranking member on his panel, is focused on how to deal with “too big to fail” institutions. It’s not clear whether the deal to provide for the orderly liquidation of troubled banks would be enough to solve the partisan dispute over other amendments.

“They won’t let us deal with any amendments,” Reid complained before Dodd’s announcement. He noted that Republicans had objected to amendments offered by Sen. Olympia Snowe (R-Maine) that Democrats would accept without opposition.

Republicans say they are trying to fix provisions they contend would damage the national economy. They argue proposed regulations of the derivatives market could force it overseas. They also contend that a proposed consumer financial protection bureau could stifle businesses and small banks.

Reid, however, accused the GOP of obstruction.

“It’s obvious they don’t want to put any decent restrictions on what Wall Street has done or are doing,” he said.

Under the deal with Shelby, Dodd agreed to amend a proposal to set up a $50 billion fund to pay for the dissolution of troubled institutions.

Big banks would no longer have to pay into a rescue fund to liquidate large, troubled financial institutions. Instead, creditors would have to pay liquidation costs that exceed the value of the assets sold off during bankruptcy proceedings.

“Creditors will be required to pay back the government any amounts they received above what they would have gotten in liquidation,” Dodd announced in a statement. “Those who directly benefited from the orderly liquidation will be the first to pay back the government at a premium rate.”

Dodd said the agreement would empower the Federal Deposit Insurance Corporation to unwind troubled banks that pose a risk to the markets.

RELATED ARTICLES Klobuchar: Roll out the cots The latest Wall Street reform amendments Shelby warns bill still doesn't have full support “Regulators will still have the authority to break up a company if it poses a grave threat to the financial stability of the United States. A very important point,” Dodd said.

Dodd said the agreement would be offered as an amendment to the broader Wall Street reform bill as soon as Wednesday afternoon.

A Democratic aide expressed hope this would clear the way for other amendments.

“We hope that means we can move forward,” said the aide. “So far, Republicans haven’t allowed us to vote.”

At his press conference, Reid reiterated that he supports adopting amendments to the reform bill by simple majority vote.

Reid said he would also review an amendment offered by Sen. Bernie Sanders (I-Vt.) that would require the Federal Reserve to submit to a Government Accountability Office audit, a proposal the Obama administration staunchly opposes.

Reid touted his long record of supporting greater scrutiny of the Fed, noting he joined Sen. Byron Dorgan (D-N.D.) to call for a study of perks received by the Fed’s board of directors.

“I’ve been working on the Fed for many, many years,” he said.

On the subject of the massive oil spill in the Gulf of Mexico, Reid said he would support legislation co-sponsored by Sen. Robert Menendez (D-N.J.) that would raise BP’s liability for damages to $10 billion. BP is now protected by a cap that limits its liability to $75 million.

Reid declined to say when he would schedule the legislation for floor consideration.


TOPICS: News/Current Events; Politics/Elections
KEYWORDS: angle; chachas; lowden; reid
If the GOP is "making love to Wall Street," then I guess Obama and his $1 million from Goldman Sachs must be positively fornicating up a storm with them! Another foot in mouth moment from one of the dumbest men ever to serve in the Senate.
1 posted on 05/05/2010 1:47:06 PM PDT by MissesBush
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To: MissesBush

Jealous............


2 posted on 05/05/2010 1:47:59 PM PDT by Red Badger (When you see Jerusalem being surrounded by armies, you'll know that its desolation is NEAR. Luke 21)
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To: MissesBush

I would have to ask Reid “If what you say is true, why are you continuing to bend over for them?”


3 posted on 05/05/2010 1:49:23 PM PDT by RC2
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To: MissesBush

When the Democrats do it, it’s just called screwing.


4 posted on 05/05/2010 1:49:26 PM PDT by Poison Pill
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To: MissesBush

So that just means what Dems do with Wall Street would make Jenna Jameson blush.


5 posted on 05/05/2010 1:49:27 PM PDT by Lilpug15 (The Forgotten Man: He works, he votes and he generally prays - but He Always Pays": Sumner)
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To: MissesBush
We should have a big party when Hairy loses the election.
6 posted on 05/05/2010 1:49:48 PM PDT by E. Pluribus Unum (FYBO: Islam is a religion of peace, and Muslims reserve the right to kill anyone who says otherwise.)
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To: MissesBush

Don’t leave out all the millions and millions Chuckie Schumer has gotten from Wall Street, for himself, the DSCC and the DNC.


7 posted on 05/05/2010 1:50:48 PM PDT by moose2004 (Stand up, speak out and stop Obamacare and GE)
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To: MissesBush

I don’t know about WALL STREET, but Business, they need someone to love on them. Many of my friends in small businesses are sucking on the hind teat, and ain’t gettin’ nothing but air. The government has taxed the COW, the MILK, the HIDE before it’s even tanned! My CPA accountant told me many years ago, HEY, TAKE CARE OF BUSINESSES, THEY’LL ALWAYS BE THE ONE PROVIDING YOU WITH THE JOBS, IT’S NOT the Community Organizers, they consume. We need right now PROVIDERS, someone who creates jobs/wealth. PRO BUSINESS leaders need to go to Washington.


8 posted on 05/05/2010 1:51:14 PM PDT by rovenstinez
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To: MissesBush

Reid: GOP is ‘making love to Wall Street’

_________________________________________

Yeah. And Obama is effing Main Street.

Call it even, mmmm-kay?


9 posted on 05/05/2010 1:51:45 PM PDT by Responsibility2nd (PALIN/MCCAIN IN 2012 - barf alert? sarc tag? -- can't decide)
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To: MissesBush

Former Barney Frank staffer now top Goldman Sachs lobbyist

Goldman Sachs’ new top lobbyist was recently the top staffer to Rep. Barney Frank, D-Mass., on the House Financial Services Committee chaired by Frank.

http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/Former-Barney-Frank-staffer-now-top-Goldman-Sachs-lobbyist-43914907.html


10 posted on 05/05/2010 1:52:12 PM PDT by WOBBLY BOB ("The welfare of humanity is always the alibi of tyrants"-Albert Camus)
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To: MissesBush

The about to die fish flopping and thrashing around on the deck......take a last gasp, Reid!.....


11 posted on 05/05/2010 1:52:25 PM PDT by AngelesCrestHighway
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To: MissesBush

Ask Obama and Reid how GE brings good smooches to life. Oh and ask Barney how lovely it is when it Frankly Reigns kisses from Freddies Fannie.


12 posted on 05/05/2010 1:52:32 PM PDT by Earthdweller (Harvard won the election again...so what's the problem.......?)
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To: MissesBush

rintense: ‘DNC telling Americans to bend over and pick up the soap.’


13 posted on 05/05/2010 1:52:49 PM PDT by rintense
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To: MissesBush

The DNC is fudge packing America.


14 posted on 05/05/2010 1:53:05 PM PDT by TigersEye (0basma's father was a British subject. He can't be a "natural-born" citizen.)
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To: MissesBush

... as the Obama Administration screws the American people.

SnakeDoc


15 posted on 05/05/2010 1:54:00 PM PDT by SnakeDoctor ("The world will know that free men stood against a tyrant [...] that even a god-king can bleed.")
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To: MissesBush

At this point I don’t care about anything Reid says. If the polls are correct, he will be job hunting next January. He hasn’t had any credibility for some time and I doubt he’ll get any in the next few months.


16 posted on 05/05/2010 1:54:06 PM PDT by fatnotlazy
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To: Red Badger

CBO: Doc fix will cost more than anyone thought
http://www.freerepublic.com/focus/f-news/2507388/posts

Recap on Greek Bailout DISASTER ...
http://www.freerepublic.com/focus/news/2507084/posts?page=40#40
$421.8 total, $146 Billion to Greece alone. Last March. Down rat hole.

CCX Scandal — 100 trillion Dollars in 10 years: Air Selling Scheme
http://www.freerepublic.com/focus/f-chat/2505139/posts
[Gore, Obama, and other leftists all caught reaching for the taxpayers’ piggy bank]


17 posted on 05/05/2010 1:55:54 PM PDT by Arthur Wildfire! March (We knew deep down it was this bad. Devour ugly truths with glee -- truth is our weapon.)
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To: MissesBush

Why Harry? You’ve been screwing America so long, I’m surprised you noticed.


18 posted on 05/05/2010 1:56:34 PM PDT by auboy (Men who cannot deceive others are very often successful at deceiving themselves. Samuel Johnson)
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To: MissesBush
Better than what Reid and the rest of the 0bamacrats are doing to us. And without our permission.
19 posted on 05/05/2010 1:56:46 PM PDT by Ben Mugged (Unions are the storm troopers of socialism.)
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To: Responsibility2nd
"Yeah. And Obama is effing Main Street.

Call it even, mmmm-kay?"

COMMENT of the DAY!!!!!!!!

20 posted on 05/05/2010 1:57:03 PM PDT by goodnesswins (The PLANTATION Party is at it again (the DEMS) ....trying to make slaves of everyone)
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To: goodnesswins

Yeah.. The nearly $1 MILLION dollars Obama received from Goldman Sachs is hatred for Wall Street? Obama STILL has not returned the money. “Comment of the day” indeed. Bye bye Reid. Don’t let the door hit ya on the way out of Nevada. LOL


21 posted on 05/05/2010 1:58:50 PM PDT by historyrepeatz
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To: MissesBush

It doesn’t matter that WE know the Democrats are full of crap and that they receive just as much, if not more, than the GOP from Wall St. What matters is that Harry Reid says it and the GOP says nothing in reply because they are afraid of their own shadow for some unknown reason and the statement will sit out there as true because it was never disputed.

I’m beginning to have massive amounts of sympathy for Rush because honest to God, he can’t hold up the entire party of wieners alone. Eric Cantor is the only one with guts. I would SO love to see him run for President. First black president to be replaced with first jewish president.


22 posted on 05/05/2010 1:59:21 PM PDT by autumnraine (America how long will you be so deaf and dumb to the chariot wheels carrying you to the guillotine?)
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To: autumnraine

Reid, along with Obama and Pelosi play to the clueless idiots who get their world view from the Oprah show, Judge Judy and The View.. and they BELIEVE the crap these 3 spew, and these 3 KNOW they’ll believe it. It’s pathetic.


23 posted on 05/05/2010 2:00:49 PM PDT by historyrepeatz
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To: historyrepeatz

Give Reid a bottle of scotch, and send him home.


24 posted on 05/05/2010 2:03:01 PM PDT by stephenjohnbanker (Support our troops....and vote out the RINOS!)
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To: MissesBush

Now we can see why they had those hearings on Capitol Hill. Denigrate Wall Street and then claim that the Republicans are in bed with them.Too bad a lot of people will believe this BS.


25 posted on 05/05/2010 2:03:16 PM PDT by taxesareforever (Release Staff Sgt. Frank Wuterich and let him and his family get on with their lives.)
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To: MissesBush
Pinky Reid only favors those on Wall Street who he can make into prostitutes for the Democrat Party. Of course, coming from Nevada, he should know about that side of human interaction very well. He and his Democrat pimps have worked the system very well and got rich on the backs of the American public.
26 posted on 05/05/2010 2:06:11 PM PDT by jonrick46 (We're being water boarded with the sewage of Fabian Socialism.)
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To: autumnraine
What matters is that Harry Reid says it and the GOP says nothing in reply because they are afraid of their own shadow for some unknown reason and the statement will sit out there as true because it was never disputed.

If the GOP were to reply to every idiotic utterance by Pinhead Reid, they'd be spending their whole day doing nothing but responding to his inane vomittings. No one takes this doddering fool seriously. Let his moronic blatherings speak for themselves. Replying to stupidity just makes you look equally stupid--and defensive.

27 posted on 05/05/2010 2:07:28 PM PDT by MissesBush (Stay angry--right through November)
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To: MissesBush
Makes for a good sound bite but in fact Obama and his gang are Wall Street.

The Obamists are communists, mafiosi, and investment bankers. All rolled together. Ever wonder what would happen to America if billionaire communists ever got power?

You won't have to wonder very long. They just did.

28 posted on 05/05/2010 2:07:49 PM PDT by marron
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To: MissesBush

If so, then why is Wall Street “putting out” for Democrats?


29 posted on 05/05/2010 2:07:55 PM PDT by Ingtar (My dog died yesterday, but less than expected. - Freeper Juan Meden)
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To: MissesBush

Whorehouse Harry should know all about!


30 posted on 05/05/2010 2:11:53 PM PDT by TaMoDee
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To: MissesBush

America is Reids b____, nobody better be doing America without Harry’s say so. (And Harry gets his carton of smokes.)


31 posted on 05/05/2010 2:12:14 PM PDT by magslinger (Tagline impounded as a threat to national security.)
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To: MissesBush

November cannot come too soon. It will be great not having to listen to Harry Reid.


32 posted on 05/05/2010 2:15:37 PM PDT by Venturer
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To: MissesBush

Does anyone care what this lying, crooked buffoon thinks about anything? He’s going to be out of office soon, anyway, and hopefully in jail from future investigations.


33 posted on 05/05/2010 2:22:39 PM PDT by KamperKen
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To: MissesBush
With that look into the GOP, I would have to surmise that the DNC is raping the rest of America.

When will America stand up and call these idiots in DC traitors.

34 posted on 05/05/2010 2:25:09 PM PDT by SERE_DOC (My Rice Krispies told me to stay home & clean my weapons! How does one clean a phase 4 plasma rifle)
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To: MissesBush
Barney Frank sexed Fannie Mae. How much sex did his rent boy exec give him?

How much did it influence Barney Frank's handling of Fannie Mae?

35 posted on 05/05/2010 2:29:46 PM PDT by a fool in paradise (The hysteria of Matthewsism and Andersonism has led to a Tea Party Scare that is unAmerican.)
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To: SERE_DOC

The banking crisis was a man made disaster. A looting of the national wealth as is typical of socialist dictatorships.


36 posted on 05/05/2010 2:30:32 PM PDT by a fool in paradise (The hysteria of Matthewsism and Andersonism has led to a Tea Party Scare that is unAmerican.)
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To: MissesBush

Well, it was Barney Frank who had a boyfriend at Fannie Mae. I guess that doesn’t count.


37 posted on 05/05/2010 2:38:18 PM PDT by Pining_4_TX
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To: MissesBush
"Reid: GOP is 'making love to Wall Street'"

If the GOP is "making love to Wall Street," the the DNC bought and paid for the whores many times over and are still supporting them.

38 posted on 05/05/2010 2:55:26 PM PDT by zerosix (Native Sunflower)
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To: MissesBush
Liars are the most dangerous people to a free republic. Liars are the most dangerous people to everyone.

I'm tired of liars, dem or repub.

This nation is headed for a major revolt.

You politicians really need to stop lying. You all need to remember who the father of lies is before it's too late for you.

FMCDH(BITS)

39 posted on 05/05/2010 3:48:49 PM PDT by nothingnew (I fear for my Republic due to marxist influence in our government. Open eyes/see)
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To: MissesBush
Obama's biggest private sector corporate donor, Goldman Sachs:

Lloyd Blankfein: We Will Be Among The Biggest Beneficiaries Of Financial Reform

40 posted on 05/05/2010 3:50:34 PM PDT by Brugmansian
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To: MissesBush

Don’t know about what the GOP is doing, but one thing is for sure...Reid is RAPING the Nevadan voter...highest foreclosures in the nation and 2nd highest unemployment...


41 posted on 05/05/2010 3:50:52 PM PDT by Fred (Vote for a REID FREE NEVADA....)
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To: MissesBush

I suppose Reid prefers screwing the American people.


42 posted on 05/05/2010 3:54:46 PM PDT by billhilly
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