Reid: GOP is 'making love to Wall Street'

By GottaLaff

Harry says the Rushpublics are "making love to Wall Street" . That dovetails nicely with how Wall Street is screwing us, now, doesn't it, so at least it's not unrequited:

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.

Please read the whole thing here. Again, apologies for the abbreviated posts. I'm struggling with tech issues on my end.

Republicans Poised to Allow Senate Debate on Financial Overhaul Bill

By GottaLaff

All I've gotten so far is a news alert from Fox:

Republicans Poised to Allow Senate Debate on Financial Overhaul Bill

So forcing the Party of No to actually stand up and filibuster in front of the whole wide world worked. Remember this day, Dems.

UPDATE, via another e-mail:

	WASHINGTON (AP) Republicans say they are ready to allow financial overhaul bill to be debated in Senate.

UPDATE:

Sen. Richard Shelby, the top Republican on the Senate Banking committee, said he has assurances that Democrats will adjust his banking regulation bill to address concerns that it perpetuates bailouts. [...]

But McConnell and other Republican critics are now focusing their objections on Dodd's proposal to create a Consumer Financial Protection Bureau within the Federal Reserve.

GOP +1 block financial reform bill for third time

By GottaLaff

Here's all you really need to know:


The Party of No, plus Nelson.

Third Senate Test Vote on Financial Overhaul Bill Fails 56-42

Between meeting in back rooms with the Big Bankers, and showing America who their real BFF are by refusing to allow financial reform, all the Rushpublics are doing is exposing themselves to be the obstructionists they are... all while reminding everyone who pays them to be that way.

Keep those votes coming, Dems.

UPDATE: Claire McCaskill makes a good point. She just said on MSNBC that the GOP pretends they don't want to block the bill, while they block the bill.

Disheartened: Special Comment by my 72-year-old friend

By GottaLaff

My impassioned 72-year-old Twitter pal, who goes by the name 42bkdodgr, would like to share his feelings about the increasingly worrisome (read: scary) and very frustrating events of late. I am more than happy to oblige.

But first, a personal note from 42bkdodgr:

Many of you may wonder why I chose to use the “ 72 year old friend” as the introduction to my Special Comments. I selected the moniker so readers could see that from my age and life experiences I give a different perspective to the issues of today.

Now for his Special Comment:

Disheartened

I sit hear before my computer a very sad, frustrated, discouraged and disheartened person as I write this Special Comment.

I feel this way and it makes me shudder, when I think about the craziness that has been going on in our nation in the last couple of months, such as:

* Texas Board of Education rewriting history books.
* Virginia making April Confederate History Month.
* Passage of Arizona Immigration Law.
* The open carry guns rally in a National park.
* Nebraska setting limits on abortion.
* GOP Congressional candidate proposes installing microchips on illegal immigrants.
* Candidate for Governor in Nevada suggesting that the barter system be used to pay doctors for medical services.

Then we have the Party of NO blocking bills from coming to the Senate floor for debate by using the Cloture Rule on almost everything that is presented by the Democrats. Republicans did it with Healthcare Reform, extension of Unemployment Insurance, and now they are doing it with Financial Reform.

When fighting the Health Care Bill, Republicans said the bill shouldn’t be passed because over 60% of Americans were against the bill. Now they are against the Financial Reform Bill, even though over 60% of Americans want the passage of the bill.

During the healthcare debate, Republicans complained about the lack of transparency, because of the closed door deals made to get the necessary Democratic Committee votes.

Now, the Republicans want all Committee discussions on Financial Reform to be done behind close door and not seen on CSPAN. I guess they are afraid the public will see how weak their arguments are against the passage of the bill.

Time and time again Republicans prove they don’t care about the common man. With health care their masters were the health insurance companies, and now for financial reform they serve at the foot of the banking and brokerage industry.

Republicans are truly “HYPOCRITES”.

I think we will continue to see more odd laws, policies and outrageous statements being adopted by other states and made by politicians; and the Republicans will not stop being the Party of No and Obstructionism.

It is quite possible that the manner in which Congress is currently operating will continue for many years to come, no matter which party controls Congress or the White House.

All this makes me disheartened because, when I take into consideration all of the above plus the hatred in this country, I feel the wheels are coming off in America.

Many thanks again for another thorough, relevant piece, 42bkdodgr. You often say what many of us are thinking and feeling, and we thank you for your unique perspective.

Cartoon of the Day

Click to enlarge, via.

Reid Schedules Another Vote on Financial Reform

By GottaLaff

The definition of insanity...

Senate Majority Leader Harry Reid (D-Nev.) has scheduled a cloture vote on financial regulatory reform for 4:30 p.m. Tuesday, but there is no indication that the outcome will be any different than what occurred on Monday.

Oh, but I kid the Majority Leader. The Party of No will re-expose their obstructionist ways as financial reform, for the time being, continues on a treadmill to nowhere.

Perhaps visual aids would help. Reid should present a big photo poster of the GOP holding hands with bankers in a heart-shaped frame.

Senate Republicans Vote to Block Debate of Financial Oversight Legislation

By GottaLaff

The Democrats may have been blocked-- again-- by the Party of No, but they made it loud and clear on the Tee Vee Machine that even a loss is a win. Why? Because now America will see who sides with Wall Street, and who sides with them.

Via an email alert from the New York Times:

Senate Republicans, united in opposition to the Democrats' legislation to tighten regulation of the financial system, voted on Monday to block the start of floor debate.

The vote was 57 to 41, as Democrats fell short of the 60 votes needed to cut off a filibuster of the motion to proceed to the bill. One Democrat, Senator Ben Nelson of Nebraska, sided with Republicans apparently out of concern over a provision related to tightening the rules on derivatives trading.

Debate is blocked. Nelson voted no. Welcome back to the GOP, Ben.

Bernie Sanders just confirmed what I said above, saying, "We were vindicated," and this proves the Republicans are, indeed, the obstructionists we know them to be.

Senate Republicans may offer their own measure to overhaul Wall St.

By GottaLaff

According to Republicans, size matters:
Rep. Steve King, R-Iowa, holds a copy of the health care bill on the West Front of the Capitol in Washington, Thursday, Nov. 5, 2009, during a Republican health care news conference. (AP Photo/Alex Brandon)

I can picture them now, counting the number of pages, because that's all that really counts:

Republican aides said they may quickly offer an alternate measure that has been in drafting for months.

“We have been drafting an alternate approach from the very beginning,” an aide said.

Asked whether Republicans would offer an alternate bill, an aide said it is possible. “I think so, yes,” the aide said.

I wonder how many meetings with Big Bankers it took to come up with something lucrative enough to agree on.

If it's anything like their poor excuse for a GOP health care bill, it should look a little something like this:

Solid Majority Backs Financial Reform Bill

Run with it then beat the Republicans over the head with it. Actually, they're so tone deaf on this they'll probably do it to themselves. Via Taegan-

The Senate is expected to hold a test vote on a financial regulation reform bill later today, but it appears Democrats do not yet have the 60 votes needed. However, Roll Call notes that rarely have Senate Democrats "been so calm about losing a vote."

The reason? Democrats are prepared to excoriate Republicans for blocking very popular Wall Street reforms.

A new Washington Post/ABC News Poll finds approximately two-thirds of Americans support stricter regulations on the way banks and other financial institutions conduct their business.

"Majorities also back two main components of legislation congressional Democrats plan to bring to a vote in the Senate this week: greater federal oversight of consumer loans and a company-paid fund that would cover the costs of dismantling failed firms that put the broader economy at risk."

Goldman Sachs Messages Show It Thrived as Economy Fell

By GottaLaff

Via an e-mail, a New York Times news alert... while we pull TPC back up from the dead:

In late 2007 as the mortgage crisis gained momentum and many
banks were suffering losses, Goldman Sachs executives traded e-mail messages saying that they were making "some serious money" betting against the housing markets.

The e-mails, released Saturday morning by the Senate
Permanent Subcommittee on Investigations, appear to contradict some of Goldman's previous statements that left the impression that the firm lost money on mortgage-related investments.

Just keep siding with these guys, Rushpublics, please. That should work out quite well for you.

VIDEO: Bank Lobbyists Huddle For Another Secret Meeting With GOP Senators

By GottaLaff

This will play well politically. At about the same time President Obama was giving his Reform Wall Street speech today, GOP Senators were having a little rendezvous with, yep, bank lobbyists.

The Party of Constantly Blowing It:

But around the same time back in Washington, D.C., bank lobbyists hosted a fundraiser for Senate Republicans, including Sen. John Cornyn (R-TX), who has become the Republican liaison for Wall Street fundraising.

Pretty embarrassing, eh guys? So embarrassing that you wouldn't even show your faces.

For the full story, visit Think Progress.

ENTIRE VIDEO: President Obama calls for Wall St. reform

By GottaLaff

Visit msnbc.com for breaking news, world news, and news about the economy

Voila.

President Obama: "We also need reform in Washington."

By GottaLaff

Here are a few excerpts from President Obama's financial regulation speech:

Now, there is a legitimate debate taking place about how best to ensure taxpayers are held harmless in this process. But what is not legitimate is to suggest that we’re enabling or encouraging future taxpayer bailouts, as some have claimed. That may make for a good sound bite, but it’s not factually accurate. In fact, the system as it stands is what led to a series of massive, costly taxpayer bailouts. Only with reform can we avoid a similar outcome in the future. A vote for reform is a vote to put a stop to taxpayer-funded bailouts. That’s the truth.[...]

I’ll close by saying this. I have laid out a set of Wall Street reforms. These are reforms that would put an end to taxpayer bailouts; that would bring complex financial dealings out of the shadows; that would protect consumers; and that would give shareholders more power in the financial system. But we also need reform in Washington. And the debate over these changes is a perfect example. [...]

But I believe we can and must put this kind of cynical politics aside. That’s why I am here today. We will not always see eye to eye. We will not always agree. But that does not mean we have to choose between two extremes. [...]

I read a report recently that I think fairly illustrates this point. It’s from Time Magazine. And I quote: “Through the great banking houses of Manhattan last week ran wild-eyed alarm. Big bankers stared at one another in anger and astonishment. A bill just passed … would rivet upon their institutions what they considered a monstrous system… Such a system, they felt, would not only rob them of their pride of profession but would reduce all U.S. banking to its lowest level.” That appeared in Time Magazine – in June of 1933. [applause, laughter] The system that caused so much concern and consternation? The Federal Deposit Insurance Corporation – the FDIC – an institution that has successfully secured the deposits of generations of Americans. [...]

Ultimately, there is no dividing line between Main Street and Wall Street. We rise or we fall together as one nation.

I'll post the video when it becomes available.

Cartoon of the Day

Click to enlarge, via.

Republicans soften opposition to financial reform

By GottaLaff

Just when I thought the Party of No was trying to make financial reform hit a brick Wall St., I see they're maybe, possibly, kinda, sorta relenting a teeny weeny tad:

(Reuters) - Republican lawmakers on Tuesday took a more conciliatory tone toward Democratic proposals to crack down on Wall Street as the U.S. Senate delayed debate on a financial reform package until next week.

The change in rhetoric could signal the two sides are moving closer to a deal after months of wrangling over how to overhaul regulations in the wake of the financial crisis.

Senate Banking Committee Chairman Chris Dodd said lawmakers have reached agreement on 80 to 90 percent of the reform bill.

"We are all optimistic that this can be fixed," said Senate Republican Leader Mitch McConnell.

Good ol' reliable, reassuring Mitch McConnell, he's always been my go-to guy for hopey changey stuff.

Color me skeptical, but it's hard to believe the G No P softening on anything. Stalling, maybe. Kvetching, definitely. Obstructing, absolutely. Softening? Mmmmnotreally.

However, they may have finally realized how quickly and drastically America will turn on them should they continue to pal around with the very corpobots who transformed us into the United States of the Homeless.

Predictability, Inc.: Sen. Collins pledges to block Democratic Wall Street bill

By GottaLaff

Why should today be any different? The Party of No is, if nothing else, consistent. And they're also nothing else. Nothing at all. Zero:

Sen. Susan Collins (R-Maine) announced after meeting with Treasury Secretary Timothy Geithner Monday that she will vote to filibuster a Democratic Wall Street reform bill.

Attagirl, you show those Dems. Whenever they start calling you "moderate" or "reasonable", you get out there and show 'em who's boss.

"I don't think we can address these concerns in three days but I see no reason why we could not negotiate a bill in the next three or four weeks."

Senate Minority Leader Mitch McConnell (R-Ky.) worked to keep his party unified against the bill, which Democrats are pushing to pass.

All 41 Senate Republicans signed a letter to Reid urging him to reopen bipartisan negotiations on the legislation.

And by bipartisan, they mean do it their way. Period.

The Grating Obstructionist Party.

Video- President Obama's Weekly Address: Holding Wall Street Accountable

Markets Defy GOP Rhetoric About Obama

Silly memes. Via Taegan-

Bloomberg: "One year after U.S stocks hit their post-financial-crisis low on March 9, 2009, the benchmark Standard & Poor's 500 Index has risen more than 68 percent, and it's up more than 41 percent since Obama took office. Credit spreads have narrowed. Commodity prices have surged. Housing prices have stabilized."

Boehner to Wall St. CEO: Pay us for our services

By GottaLaff

Somebody's got his big orange faux-tanned hand out:

The Wall Street Journal reports today that "Republicans are stepping up their campaign to win donations from Wall Street, trying to capitalize on an increasing sense of regret among executives at big financial institutions for backing Democrats in 2008." [...]

Last week, House Minority Leader John Boehner of Ohio made a pitch to Democratic contributor James Dimon, the chairman and chief executive of J.P. Morgan, over drinks at a Capitol Hill restaurant, according to people familiar with the matter.

Mr. Boehner told Mr. Dimon congressional Republicans had stood up to Mr. Obama's efforts to curb pay and impose new regulations. The Republican leader also said he was disappointed many on Wall Street continue to donate their money to Democrats, according to the people familiar with the matter.

The Boehner foots the bill for a couple of drinks and expects a few million in return... and his bait to Wall Street is that the Democrats are trying to fix the gargantuan problems that the Rushpublics jammed down our throats for 8 endless years.

His solution? Go right back to BushCo's methods and recreate the worst recession in decades.

That must be what he means when he says the GOP has a plan of their own.

H/t: Gr8RDH

Video- President's Weekly Address: Getting Our Money Back from Wall Street