Reid: GOP ‘Making Love’ to Wall Street
EmailABC News' Z. Byron Wolf reports: The rhetoric around the Wall Street reform legislation reached new heights (or lows… or maybe just the weirdest Harry Reid analogy yet) today. Democrats defeated a Republican filibuster to begin considering the bill last week. But in the meantime, the two sides haven’t yet been able to agree on how to start voting on amendments. Senate Majority Leader Harry Reid, asked at a press conference to outline the holdup, said Republicans are at fault (they’d say the opposite). And then he used a startling analogy to describe Republicans’ relationship with the financial industry. “You can find the Republicans are having difficulty determining how they're going to continue making love to Wall Street,” he said. Bow chicka bow wow. Republicans countered afterward that the final language for the most recent version of the Wall Street reform bill was not released until around noon Wednesday. Click HERE for the top 13 Reid verbal gaffes, as compiled by Republicans. Although after today the list may have to be updated: Here’s the entire moment from Wednesday’s press conference: “One problem: They won't let us deal with any amendments. We have the Baucus amendment that is pending, which is a very important amendment. It underlines and underscores that no bank will be too big to fail, that there will be no taxpayers' money used to bail out these banks. It's something that I think there will be wide-ranging support on both Democrats and Republicans; they won't let us vote on it. “So we thought we'd try something else. Senator Snowe had some amendments. We have no problems with her amendments. They wouldn't let us even accept those by unanimous consent. “They wouldn't allow votes on those. They have stopped us from moving forward on this legislation, period. Q What was the status of today's bill — (off mike) — where are they on this? SEN. REID: What hour? This morning at 2:00, there was a problem with whatever they were trying to work out. So this has been changing as we've — as — all you have to do is read the newspapers. You can find the Republicans are having difficulty determining how they're going to continue making love to Wall Street. You have — you have Senator Shelby, who worked with Dodd for weeks and weeks, and that fell apart. And as you know, we had Corker come in, and he worked with him for a while. And now, Dodd's back working with Shelby. It's obvious that they do not want to put any decent restrictions on what Wall Street has done or are doing. That's pretty clear.
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Just another example of why Reid needs to go.
The GOP don’t hide the fact they favor business, even business that misbehaves.
The Dems, on the other hand do exactly the same……then lie about it.
Posted by: Rick McDaniel | May 5, 2010, 3:31 pm 3:31 pm
The better way to say this is that the GOP is intertwined and inseperable from Wall Street and the big time “financial giants”. You all know out there that they have “far surpassed” our manufacturing sector as the way “money is made” … didn’t you? Did you also know that is one of the leading indicators of a “nation in decline”??? You “betcha” the GOP knows who they are “pandering” to.
Posted by: CND FOX | May 5, 2010, 4:00 pm 4:00 pm
There is still a fact that is not being addressed by Harry Reid and Obama, or for that matter any party or candidate:
That fact is that the current debt would require 50 years of balanced budget and yearly payments of $0.5 trillion for resolution.
Now, we know that is not going to happen so what is the future of the nation? Will it be to have the debt forgiven and give every household a packet of Euros or Ameros?
I think the American people need an answer on the debt issue. Since the debt has been deemed unsustainable, and the Obama/Pelosi/Reid triad are still spending we need answers! Just pretending that they are undoing Bush damage doesn’t cut it, Bush took on horrendous debt but this bunch has eclipsed him and are now beyond resolution on the debt issue.
Posted by: Ed Taylor | May 5, 2010, 4:01 pm 4:01 pm
It’s offical Reid has gone senile!
Posted by: CBA | May 5, 2010, 5:32 pm 5:32 pm
I think the Republicans at least know how Wall Street works, as opposed to the Democrats who are completely lost when it comes to the chess game of a free market. The Dems want to make rules for a game they don’t even know how to play ! And they have NO clue what the outcome of their proposed changes will have. Sounds like they need to ram through some legislation fast.
Posted by: union juanita | May 5, 2010, 5:58 pm 5:58 pm
Indeed, there are some folks in Congress, of both parties, that “know how Wall Street works.” The rules of the game require you to make as much money as possible, at the expense of everyone else-big or small- and produce nothing of valuable, except a few computer key strokes. Finally, you celebrate your victory by bragging in internal e.mails how you, outsmarted all the ‘dummies’. Change the rules? No, end the game and send the players to jail!
Posted by: B.Bear | May 5, 2010, 8:07 pm 8:07 pm
Kettle
Pot
The destruction of the Democratic and Republican parties at the polls are the only hope of restoring the Republic.
Posted by: Tom | May 5, 2010, 8:54 pm 8:54 pm
Stick a fork in this clown; he’s done. All he’ll have to bring to the November elections is an appeal to the voters to keep him in the Senate because he’s been there for so many terms (so long that he’s lost touch with the people of his state).
Posted by: Publius | May 6, 2010, 1:37 am 1:37 am
What a clown!!!!
Posted by: LongT | May 6, 2010, 6:48 am 6:48 am
You can tell the haves, from the have-nots by the comments. The haves should take a better look at their future though because much of the money they have is middle class money, which is quickly disappearing.
As far as the bailouts, which seem to be an issue, is being reckless with the money. When we lend to our kids, a smart parent buys them food, puts gas in their car, or takes care of the necessities. The government, should have had more control over the money, which in some cases effected the pension funds of many hard working people. The money should have been specified to the right spots, i.e. retooling the automakers, to produce affordable hybrid cars. Instead we gave the crooks at the top bonuses. But that would be too much goverment control. Right?
Posted by: parma hts gary | May 6, 2010, 7:00 am 7:00 am
“You can tell the haves, from the have-nots by the comments.” Now that’s about the stupidest I read today…
Posted by: LongT | May 6, 2010, 7:09 am 7:09 am
If Reid is correct , what does theat mean of obama who recieved than anyone from BP petroleum, and $1000,000 from goldman sachs? Well that means Reid is a senile hyprocrite. Most of us have a brain and are not obamatron lemmings.
Posted by: jonny | May 6, 2010, 7:23 am 7:23 am
jonny…I think it is time you woke up…they all get money from the same sources. Why don’t you use your “sarcasm” for good and support “campaign reform”? Or is that too conceptual and intellectual for a “soundbite” person like yourself.
Posted by: CND FOX | May 6, 2010, 8:05 am 8:05 am
Guess Harry is wanting to ignore the fact that the Obama Admin employes a number of ex-Sach’s employees and that the Dems have received huge donations from Wall Street.
Posted by: mikemcdon321 | May 6, 2010, 8:10 am 8:10 am
Best take a look at where this Liberal Progressive Socialist agenda is taking us (made enough money yet?). Greece, Portugal, Spain, Italy. Union workers get equivalent of 14 months pay for 12. Retire at 53 with higher pay than when working? 20% unemployment in Spain. The Euro is taking a nosedive. How has your 401K done this week? Housing starts in this country rose mainly due to public housing financed by…yep, the US Govt. Employment looking better? Yes..Govt payroll up 7% and growing. Don’t worry folks, Reid and his gang will take care of you. Financial reform..give me a break.
Posted by: salty dog | May 6, 2010, 8:26 am 8:26 am
Yeah, Reid and the Democrats are as pure as the wind driven snow, only the Republicans take re-election money or payoffs from lobbyists. He has no credibility and it’s time for him to go home and stay there except I understand he isn’t liked that much at home. Go live like a king on your retirement and leave the rest of us alone.
Posted by: Ken | May 6, 2010, 8:59 am 8:59 am
Long T-How much did you get from the bailouts???
Posted by: parma hts gary | May 6, 2010, 9:08 am 9:08 am
salty dog…hate to be the one to tell you this, but you are looking at the “right wing soundbite” side to why our country is in decline. The “gap” between the “rich and poor” is too great. The “financial services sector” has replaced the “manufacturing and product making base” that every country needs to remain strong. And we have let the “fundamentalist religion” base dictate to us in the last two elections (the main reason “W” won). And that “religion based group of thinkers” are very “anti-intellectual” in their philosophy. Better do a little better “research” my friend.
Posted by: CND FOX | May 6, 2010, 10:15 am 10:15 am
parma; How much did I get from the bailouts?…..zip….
Posted by: LongT | May 6, 2010, 11:52 am 11:52 am
No problem for Democrats. They married the girl.
Posted by: Miri | May 6, 2010, 6:29 pm 6:29 pm