Boner doesn't have to make sense, and doesn't...

[babylonsister]

http://www.prospect.org/csnc/blogs/tapped

Conspiracy Theories And Financial Reform.


When the fraud charges against Goldman Sachs were announced last week, the Republican response was deemed by liberals to be completely nonsensical. House Minority Leader John Boehner, for example, suggested that the White House was somehow doing Goldman's bidding:

"These are very serious charges against a key supporter of President Obama’s bill to create a permanent Wall Street bailout fund," Boehner said Friday in the statement. "Despite President Obama’s rhetoric, his permanent bailout bill gives Goldman Sachs and other big Wall Street banks a permanent, taxpayer-funded safety net by designating them ‘too big to fail.’ Just whose side is President Obama on?"

Boehner further pointed out that Goldman employees made the company Obama's biggest contributor during the 2008 election. It's worth pointing out again that Boehner's objection is substantively nonsense--the status quo offers Wall Street a de-facto permanent bailout fund, and that the GOP is attempting to preserve that status quo in the interest of companies like Goldman Sachs. What the bill would currently do is force stockholders rather than taxpayers to fund foot the bill in the event the institution fails.

Steve Benen reacted to Boehner's words with disbelief:

I'm trying to imagine the conversation in Boehner's office when the statement was being written. Which genius on Boehner's staff discovered that the Obama administration is going after Goldman Sachs, regardless of its campaign contributions to Obama, and thought, "A ha! Now we've got 'em!"

Look, in an environment where only a fifth of the American people trust the government the Republican counterargument against financial regulation doesn't have to make sense. All they have to do is sow enough doubt to make people distrust whatever effort the administration might make. At least, that's what they're betting on. It's not confusing, it's obvious.

Democrats however, can take heart in the fact that Americans' love of small government seems as fickle and conditional as ever--distrust the government as they might, 61% still want stricter government regulation of financial institutions.

-- A. Serwer

[activa8tr]

1. Some good thoughts here, and a rec from me for posting them.

Boener and McConnell are idiots and the people are finding out how stupid they are with every passing day.

[Clio the Leo]

2. They are going to have a hard time spinning their way out of this one...

... but it will be fun to watch them try.

[Jennicut]

3. Their job is never to make sense, but the confuse. The media

doesn't report facts and people who are not political junkies like us do get easily confused. However, this time Luntz's play with words might not work as it is that stupid.

[TCJ70]

4. Why anyone listens to republicans at all anymore...

...is a complete mystery to me. After all the lies about HIR I just don't get it...

[babylonsister]

6. We don't have a choice, do we. And rethugs listen to rethugs. I don't

even mind a 2nd party, think it'd be healthy, if they weren't so delusional and disingenuous.

[Gman2]

5. They keep talking in Reagan bromides. The tangled web they weave

isnt yet cinching up. As they must flesh out their plan, it will become increasingly obvious that they are simply the handmaiden of the corps. With all hte Goldman stealing sacks, along with the party of no, hell no, and youre dead if you do, we will dispatch this bunch with prejudice. One more mistake, one lynching, one MORE plane into building, and we will be DONE with them. And now that all the Rethug eggs, are in the teabasket, they will be small enough, to drown in their vomit. Feel the burn. Let's roll.