GOP wants Dodd to slow down on financial reform legislation

[TomCADem]

Source: Washington Post

Republicans on the Senate banking committee said they remain open to finding a bipartisan agreement on legislation to overhaul financial regulation, but they warned the chairman, Sen. Christopher J. Dodd (D-Conn.), against trying to push a bill through too quickly.

"While we remain open to finding commonground and to working diligently toward passage of bipartisan legislation, we believe a markup scheduled in haste would certainly prevent us from achieving that goal," said a letter, signed by all 10 Republican committee members and obtained by The Washington Post.

Dodd, who has been in close negotiations for several weeks with freshman Sen. Bob Corker (R-Tenn.), announced Thursday that he would move forward with an updated version of a bill on Monday without Republican support. He also said he plans to start hashing out details of the bill in his committee the week of March 22, ahead of the legislative recess.

In their three-paragraph letter to Dodd, Republicans balked at such an ambitious timetable. "Given the sheer magnitude and complexity of the financial reform package you intend to introduce, this legislation will inevitably have a substantial impact on our financial system and overall economy," they wrote. "Accordingly, we urge you to allow for sufficient time to review the language."

Read more: http://www.washingtonpost.com/wp-dyn/content/article/2010/03/13/AR2010031302136.html?hpid=sec-business

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The irony is that while Bob Corker tries to exempt out pay day loan centers from regulation, and the GOP drags its feet on financial reform, Republicans will try to get votes from the American people by arguing that they will fight Wall Street and defend Main Street. This would not happen if we had an objective media. Instead, with Fox News running interference, the Republicans can vigorously protect Wall Street with impunity knowing that the American people won't hold them accountable.

[jkshaw]

1. The GOP wants everything to slow down

[FreakinDJ]

4. GOP wants the Government to come to a screeching halt

until they can have a majority again - then they will resume handing over America's wealth to the wealthy elite

[mulsh]

2. I hope Dodd ignores this pr stunt and presents his bill on Monday.

play time is over GOP.

[skyounkin]

3. Is so NOT shocked.

What don't the rethugs want to slow down.....

[krispos42]

5. I bet if we renamed the financial reform bill...

...the Authorization for Use of Military Force, it would pass in like 3 hours.

[brewens]

7. Maybe the Financial Institution American Freedom Security Act. n/t

[krispos42]

11. Gotta throw in a "Homeland" someplace.. And a "Defense".

:thumbsup:

[AlinPA]

31. And add "Faith" somewhere.

[No Elephants]

23. Financial Institution American Security Corporation Operation (or FIASCO)

[The Magistrate]

9. Worth A Try, Sir....

No one should care what Republicans do or do not want.

[krispos42]

10. I would love to see Obama gone on TV with that message.

"My fellow Americans, until and unless the Republicans admit the limitations and failures of their recent governing past and re-think and re-evaluate their positions on economics, I'm not going to listen to a damn they they say on this issue. They have no credibility and I'm not going to pretend otherwise to be led astray by empty offers of bipartisanship. It is time for them to confess their poor leadership by ending the reflexive filibuster, or else render themselves permenately irrelevent."

[nenagh]

12. OT: I'm always delighted to you post

And hope you are always feeling better.

[DeSwiss]

6. Senator Dodd: Fuck 'Em!

K&R

[Historic NY]

14. I agree x10.

[FrenchieCat]

8. I laughted when I read that headline!

What else is new, cause this sure ain't!
Slow down to a crawl.....they yell...
Why do Financial regulations on the banks?
let Republicans keep doing that yelling,
let the teabaggers hear them!

[w4rma]

13. Dodd probably has a decent bill, then. (nt)

[WCGreen]

15. And yet when it was time to go to war....

Five minutes was too long.

These "people" are appalling.

[Tx4obama]

16. And WE The PEOPLE want the GOP to STFU. n/t

[Jennicut]

17. What else is new? Their excuse is everything is so complicated, therefore we will never get to it.

Bite me Rethugs. Dodd is my Senator and I will call him to encourage he fight for this.

[southern_belle]

18. Now where have i heard that before??? n/t

[bongbong]

19. Another thing for the teabaggers to ignore

"We hate 'pigs and Democrats equally!" - the squeal of the teabaggers.

I'm sure this latest antiAmerican action by the 'pigs will make the baggers vote Dem next time. :sarcasm:

[belpejic]

20. GOP, Boner, Mitch the Turtle, et al hoping to run out the clock.

And retake at least one congressional branch this fall and then truly grind everything to a halt, hopefully until 2012. They have no intention of making America better. They're just cynically trying to regain political power so they can return to the corruption-filled gravy days.

[lonestarnot]

22. They can only have effective time management if the majority lets them.

What about this doesn't the majority understand?

[No Elephants]

26. IMO, the majority does understand.

[sendero]

21. Much stronger legislation than this..

.... should have been passed a year ago.

The Republican fools' deregulation experiment is over. The patient died.

[No Elephants]

24. Yes, but it was not only the Republican fools' dereguation experiment.

True, Reagan sold the American public on de-regulation and began paving the way for things like "too big to fail" and Madoff.

True, Phil Gramm introduced repeal of Glass-Steagall.

BUT then POTUS and head of the Democratic Party, Bill Clinton, said he wanted repeal of Glass Steagall on his desk ASAP, which no doubt helped many Democrats in Congress vote for it--and vote for it Democrats in Congress did.

Barney Frank also did a lot for the risky residential mortgage trade that helped bring about our economic collapse.



If you misdiagnose, you are likely to mistreat.

If you mistreat, you are unlikely to improve matters.

[sendero]

29. I agree that Dems..

.. had their hands in this too. But the entire overarching concept, sold relentlessly and pervasively, was that if we deregulate everybody and everything that only good things would result.

[City Lights]

25. Tough shit!

All they're interested in is stalling so, come November, they can say that the Democrats are presiding over a "do nothing" Congress. Enough already.

[yurbud]

27. like the GOP went slow on the Patriot Act, the Iraq War, tax cuts for the rich, the bail out...

[No Elephants]

28. We need to stop focusing on the kabuki and start focusing on substance.

The only real issue is, is Dodd's bill a good one for American taxpayers/consumers or not?

If so, great.

If not, why not?

Don't be distracted by the circus.

[mvd]

30. I hope Dodd gives them a simple answer

One word, in fact: NO.

[Supersedeas]

32. catering to the base