G.O.P. Takes Aim at Plans to Curb Finance Industry

[groovedaddy]

WASHINGTON — Drawing the lines for a fierce election-year battle over regulating the nation’s financial system, Senate Republicans on Tuesday insisted that legislation proposed by Democrats and the White House would only encourage future taxpayer bailouts of big banks.

The Senate Republican leader, Mitch McConnell of Kentucky, criticized the Democrats’ plans to regulate Wall Street as arrogant and partisan, echoing the recent health care fight in which he accused Democrats of carrying out a government takeover.

“We cannot allow endless taxpayer-funded bailouts,” Mr. McConnell said in a floor speech. “That’s why we must not pass the financial reform bill that’s about to hit the floor. The fact is this bill wouldn’t solve the problems that led to the financial crisis. It would make them worse.”

Both the White House and Congressional Democrats quickly fired back, accusing Republicans of trying to prevent tougher policing of Wall Street.

http://www.nytimes.com/2010/04/14/business/14regulate.html?th&emc=th

[louis-t]

1. How can McConnell say that with a straight face?

We just bailed out the banks because they WEREN'T regulated, and now he says don't regulate them or we'll have to bail out the banks again?:crazy: