Wall Street Reform: Republicans think you’re stupid

Even as U.S. Senate Republicans hold a unified front in filibustering financial regulatory reform — reforms Wall Street is frantically lobbying to kill — they continue to make the bizarre assertion that the Democrats fighting to pass these reforms are… wait for it… in the pocket of Wall Street!

As Sen. Majority Leader Harry Reid said about the GOP’s characterization of the bill as a Wall Street bailout, “This is as Orwellian as it gets.”

Not wanting to miss out on the fun, Washington State Republican Party chair Luke Esser is now criticizing Sen. Patty Murray for the half million dollars in political contributions she’s received from Wall Street over the past 18 years:

“Wall Street has taken good care of Sen. Patty Murray and today she returned the favor.”

Of course, Esser is referring to the vote Murray cast in favor of Wall Street reform… you know, the bill Wall Street opposes. Like I said, bizarre.

And as The Olympian’s Brad Shannon points out, that $514,925 Sen. Murray has received from financial industries is “less than 2 percent of the $36 million she’s received from all sources since 1989.” In fact, it’s less than 1.5 percent… exactly the kinda simple math I’m guessing Esser was hoping the press and the public wouldn’t do.

And you know what other kinda math Esser should have anticipated? The kind in which somebody adds up the total dollar value of the contributions Dino Rossi has received from the world of finance over the course of his political career… you know, like $361,882, or more than 1.9 percent of his $18 million total.

That’s right, Rossi, who we can count on to oppose Wall Street reform along with every other GOP senator, has long relied on Wall Street for a greater percentage of his campaign bankroll than Murray, who staunchly supports the very reforms Wall Street and its Republican surrogates oppose.

Oops.

(FYI, percentage wise, State Sen. Don Benton is even worse, routinely relying on the financial industry for between 12 and 20 percent of his campaign contributions.)

So when Republicans, who traditionally draw a disproportionate share of Wall Street support, work with Wall Street to kill reform legislation that Wall Street opposes, while boldly accusing Democrats of doing Wall Street’s bidding, one can only conclude that Republicans think voters are stupid.

I guess we’ll find out if they’re right or not come November.

Comments

  1. 1

    sparky spews:

    Im watching Levin eviscerate the arrogant young punks from Goldman Sachs on CNBC…Coburn and Tester are weighing in too..they are all pissed because the Young Rich Men are evading making any kind of answer to their questions…

  2. 3

    MikeBoyScout spews:

    Whatever you do, don’t look at today’s Wall Street Journal story,

    Wall Street Rules Help GOP Fill Campaign Coffers

    Republicans may lose the fight over Wall Street regulations, but the fight has helped their campaign accounts.
    For the first time since 2004, the biggest Wall Street firms are now giving most of their campaign donations to Republicans.

    Probably the change in BIG Wall Street firms is due to the fact that Democrats want to give Wall Street bailouts, and BIG Wall Street firms want to be more tightly restricted like the Republicans are calling for. No???

  3. 4

    Johnny Reb spews:

    Just saying…How many Presidential advisiors/Czars/New Fed employees under Obama’s watch are Ex-Goldman Sachs employees…Just saying
    Also, How about that Chicago Carbon Exchange that Goldman Sachs bought into, you know the one tha Barry helped fund when he was on the board of the Joyce Foundation.

  4. 5

    rhp6033 spews:

    Campaign contributions only tell part of the story. For decades, the alliances between Wall Street and Congress have included all sorts of sweetheart deals, revolving-door scenarios, jobs for children & mistrisses of Congressmen, etc. Such benefits are difficult to count, as they are hidden away so as to be outside the light of scrutiny. We only hear about some of them, usually when they come to light in the context of another scandal. Such conflicts of interest do affect politicians from both parties.

    So how do you tell which party has been corrupted more? You ignore their words, and watch their actions. Those that support the greater regulation and transparancy of Wall Street, which the big financiers oppose, is hardly in the back pocket of those same financiers. Those that oppose such regulation and transparancy, on the other hand, clearly know who is their master.

    “Ye shall know them by their fruits. Do men gather grapes of thorns, or figs of thistles?”

    Mathew 7:16, KJV

  5. 6

    Lefty Loosey spews:

    it seems the Repubs are relying on the adage that “a lie will race around the block in the time it takes for the truth to lace its shoes.” In fact, that seems to be their standard operating procedure anymore.

    Speaking of stupid Republicans…what, exactly, has Dino Rossi been doing lately to make anyone think he’s a better candidate now than he was the last time he surfaced?

  6. 7

    Democrat Crips spews:

    rhp attempts nuance. Rather than explaining or explaining away the capture of Clinton and other DLC Democrats by Wall Street, or the capture of Clinton by Big Telecom (an unholy incestuous alliance that fueled Clinton’s 1990′s telecom bubble and boom), or the domination of Obama’s campaign by Wall Street money, or the domination of Obama’s administration by Wall Street rejects from Goldman and elsewhere, rhp goes Talmudic or Jesuitical.

    Don’t look at Democrat donor after-action reports, rhp seems to say. Don’t look at the buying of the presidency in 2008.

    Think instead about Obama’s noises about “greater regulation and transparancy.”

    Just like the transparancy Obama promised for the Obamacare debate … everything on C-SPAN.

    Just like the regulators at SEC during the duration of the meltdown and right up until a few weeks ago … top-dog regulatory watchdogs spending most of their official regulatory days downloading piles of porn.

    But perhaps that was less dangerous to the republic than the normal course of regulation, which normally means regulatory capture. An unholy incestuous alliance of Big Government and Big Business that rigs the regulatory game to protect the biggest of Big Business from upstart uppity competition and to protect the regulatory empires of Big Government.

    The stuff that gives Big a bad name, particularly when Big Government ensures that Big Business has a perpetual sinecure because it’s too big to fail.

    Put that in your KJV, rhp.

  7. 8

    sj spews:

    Let me offer to make this all worse ….

    Remember ec 101? The central dogma of capitalism is that increased productivity generates capital making the capitalist richer and providing a motivation for the owners to pay more to the workers so the latter can biy more …etc,

    Very quickly, however, capitalism ran into a need for someone to act as a referee of the money supply. Without national banks, capitalism would run out of “money” to accommodate all this growth.

    So, for the last two centuries or so we have had the odd couple .. Capitalism building capital while the banks controlled the money supply so that there was enough money but not too much (aka inflation).

    OOOPS. Along comes modern Wall Street. One estimate I have read says that Wall Street now accounts for FORTY PERCENT of America’s GDP. Of course Wall Street describes itself as the “Financial Industry.” Wall Street’s products are “instruments” … not cars or songs or computer programs but “instruments.”

    What is an “instrument?” Like pins, corn, soy beans, or software these products must have some substance to have value. That substance is MONEY. In effect Wall Street now competes with the Federal Reserve by creating MONEY!

    Are you scared yet?

  8. 10

    rhp6033 spews:

    You got to love the quote from the Goldman-Sachs manager:

    When asked if Goldman has a duty to tell clients when it is betting against them, Tourre said the firm has a duty to buy and sell securities from clients, adding “We do not have a duty to be investment advisors.”

    Lawmakers, Goldman execs clash at hearings

    Gee, if I were a client of Goldman Sachs, I would be pretty upset right now. I was paying premium fees to the firm. Now not only are they charged with selling clients worthless investments while shorting the same investments, but the managers have the gall to insist to Congress that their only responsibility is to process trades and swap paper – they do not pretend to offer investment advice.

    Goldman Sach’s clients would have been better off using e-trade.

  9. 11

    Vince with Slap-Chop spews:

    @9..keyword for the day: multi-tasking.

    try it.

    no shirt, no shoes, no dice….

  10. 12

    Racist Profiler spews:

    In effect Wall Street now competes with the Federal Reserve by creating MONEY!

    In effect? In fact! And in fact you validated my points about the incest of too-big business and the regulatory statist state. With the Fed splitting the undifferentiated difference as a quasi-public/private hybrid.

    However, comma, let us give thanks, each and every one, that Alexander Hamilton had the brains and the ability to build American capitalism on a foundation (strong government, central bank, stock exchange, manufactures and commerce) that’s served us well across most of the relevant range.

    Thank God that Hamilton, not blood-bedazzled Jefferson (the coward who ran away from a few Redcoats and who ran cheering toward the terror of the Jacobin guillotine; the champ of the common man who was indentured to his slaves and was pampered by his plantation), set America’s course when it mattered. We are Hamilton’s country and we’re better for it.

  11. 14

    rhp6033 spews:

    # 7: Why should I babble on the subjects you want me to talk about? If you have the facts and figures to try to convince people that the housing collapse of 2007 and the wall street collapse of 2008 were all the fault of Bill Clinton, feel free to try do so on your own.

    Better yet, start your own blog, instead of coasting off Goldy’s, and feel free to use the virtually unlimited space to babble about anything you wish. Then see how many people come to listen to you.

    You might actually get some traffic. It’s pretty humerous to see the rhetorical contortions made while wingnuts try to argue that the Bush administration of 2001-2009 and the Republican Congress of 1993-2007 (with some brief interruptions) had absolutely no fault to play in the collapse of the U.S. economy. According to them, Bill Clinton aparantly had them physically in a choke hold since 2001, they couldn’t move, speak, or breath, and wouldn’t let them up until January 2009, when suddenly they were outraged at what had happened around them.

    And the argument that some SEC lawyers in 2008 spent their time surfing the web instead of enforcing the laws? Funny that it appears that most of that occured in 2007 and 2008 – who was President then? Apparently Wall Street and the Republican Party want us to believe that because the SEC didn’t stop them in time, then we would be better off if we never stopped them from dangerous and fraudulent conduct?

    Of course in 2008 I expect the SEC was doing pretty much what was expected of them at the time – nothing. The Bush administration had made it pretty clear that they thought financial regulations were nonsense, and enforcement prosecutions through the DOJ would be minimal.

  12. 15

    rhp6033 spews:

    By the way, the DJI dropped 213 points today.

    1. Market Correction – A drop of some sort in the 100+ range was expected any day now. Analysts have been expecting a “correction” after several months of sustained price rises. Yesterday evening there was even speculation that the DJIA was within “striking distance” of the levels it held before the September 2008 collapse. That’s too high, given the lack of movement on the unemployment figures.

    2. Most news organizations attributed the drop to bad news regarding Greece and Portugal, which had a domino affect on the Euro, causing the U.S. Dollar to rise, which negatively impacts U.S. exporters and caused a rise in the bond markets.

    3. The Fed announces tomorrow the results of it’s two-day meetings this week. They’ve predicted sustained low interest rates for some time, but signs of recovery might have them wondering when to pull the trigger on a slightly higher adjustment of interest rates.

  13. 18

    Racist Profiler spews:

    Oh shit. Typical rhp shit, different day.

    Yes, I hookie-bob off goldy’s bandwidth, and apparently I beat your bubble-headed bobble-head arguments into the ground. Perhaps that’s why each and every rhp post (well, almost every … perhaps you have an occasional spasm of rationality) is a serial non sequitur.

    I cut no slack above, and not much slack elsewhere, for the Republican lords of misrule. And I emphatically remind you of inconvenient truths about Democrat destruction and lies.

    Can’t handle me on this blog? Then maybe you need to deport yourself back to where you came from. Sure you’d feel way more at home doing Democrat night-rider reenactments back in the backwoods of Tennessee.

  14. 19

    sj spews:

    @12 Racist Profiler Tea Baggin TJ?

    Thank God that Hamilton, not blood-bedazzled Jefferson (the coward who ran away from a few Redcoats and who ran cheering toward the terror of the Jacobin guillotine; the champ of the common man who was indentured to his slaves and was pampered by his plantation), set America’s course when it mattered. We are Hamilton’s country and we’re better for it.

    WTF?

    1. Jefferson was not a soldier, when did he do this runnin away?

    2. He was anything but a Jacobin, he dis however support the overthrow of the French Aristocracy … something he )and the early revolutionaries) saw as a continuation of the American revolution.

    3. “Pampered” by his slaves? You make him sound like an early version of GW Bush! Jefferson was a slave owner and not a gentle one .. at least for his field hands. OTOH, his interactions with the house slaves, largely of one family7, led to some of the most innovative technologies of their time. You like nail factories?

    While the sex story may be titillating it is a lot more interesting to wonder hat sort of collegial interaction went on quietly at Monticello!

    4. I admire the foresight of Hamilton too, BUT his party was responsible for the Alien and Sedition Laws. The miracle of our founding was the forginf of a country out of the ideals of Jefferson and the rigor of Hamilton and Adams.

  15. 20

    Racist Profiler spews:

    Why should I babble on the subjects …

    Why not? You babble on (almost) every other subject. You’re on a roll, TurgidMan; don’t let me knock you off your game and put you off your feed.

    As for ICE CUBE, I’m a Tea Party ICE-T drinker.

  16. 21

    Racist Profiler spews:

    Dear WTF:

    Never said, wrote, or implied that Jefferson was a soldier. He ran from the Reds while he was governor of Virginia. And then he ran again.

    He was a Jacobin. Conor Cruise O’Brien and Ron Chernow make that clear.

    Did not allude to Dusky Sally.

    Case closed.
    Class dismissed.

  17. 22

    sj spews:

    More Racist Profiler …

    Well, I will give you this, you are more coherent than Puddy.

    Keep trying.

  18. 23

    sj spews:

    @21 RP the Tea Bagger

    Oh .. you think Governor Jefferson should have done the brave thing and let hisself be captured by the Brits????

    You a big fan of some other colonail governors .., Massacusetts’ Hutchinson or New Jersey’s Franklin??

    dumbass teabagger dismissed?

  19. 24

    Doc Daneeka spews:

    “I guess we’ll find out if they’re right or not come November.”

    Unfortunately we don’t have to wait until November.

  20. 25

    correctnotright spews:

    Racist profiler:

    Let’s see: You cheer Hamilton for his pro-central bank profile and then are against the regularotry reforms (or for them)?

    I can’t tell.

    The bottom line is that Teddy Roosevelt is the important figure in regulatory reform. A republican who realized his party was nefver going to end the corruption unless he cracked down on trusts and monopolies. He realized that the line between government and big corporations was blurring and that the big corporations needed to be reigned in.

    The republicans of today are still supporting monopolies, mouthing free trade rhetoric and carrying water for the financial industry. They make a lot of excuses but they fall in line behind Wall street bankers every time.

    Puddy and the ignorant or confused republicans are still trying to make excuses – but the bottom line is that the republicans are doing the bidding of Wall street, and Obama and the democrats have lined up for reform to prevent the economy from tanking and the little guys from being screwed again and taking the fall for the profit motive of the rich.

  21. 26

    Wazzup, Doc? spews:

    Somehow, sj, having you tell me I’m coherent or “more coherent” is not reassuring.

    How do you make the ridiculous jump from Governor Jefferson to the Tories in Massachusetts and New Jersey? Or why do you make that illogical leap?

    Could it be because you’re ill-equipped to discuss the topic of Jefferson’s cowardice and of Jefferson’s indenture to plantation slavery? The topic (a new twist here) of Jefferson posturing and preening as a champion of sturdy-yeoman agrarian America while he was chained to enslavement and to a grotesque plantation system that was as pathologically big as the allegedly pathological system of Hamilton that Jefferson shrilly despised?

  22. 27

    Dr. Dre, Easy E, and MC Ren spews:

    me thinks the good professor SJ knows about as much about Jefferson as he does about “econ 101″ – as he posted earlier…which really is not much.

    some people should stay focused on their field of study….

  23. 28

    Vince with Hare Lip spews:

    re 26: Could we make a mental leap of sorts from Thomas Jefferson to Jefferson Davis?

    You seem like a Jefferson Davis sort of teabagger escapist with a curly wig and a dress — Just like JD.

    In the south it’s known as the war of northern aggression. In the North, we call it the war where we kicked the south’s ass and made JD run like a little girly.

  24. 29

    Wazzup, Doc? spews:

    correctnotbright: I’m with crypto-communist Lance Selfa on this one: We have the Republicans, the party of too-big business. And then we have the Democrats, the other party of too-big business.

    The regulation of trusts predated TR. The Sherman Anti-Trust Act, 1890, is Benjamin Harrison’s baby. But you’ve probably heard that Sherman was used, in the real world, to protect trusts from labor.

    Unintended consequences are the law. We can make laws like the Sherman Act or TR’s laws to clean up Upton Sinclair’s Jungle. We can regulate until the cows come home as FDR did with AAA. But between regulatory intentions and regulatory outcomes the shadow falls, and it usually falls on small upstart entrepreneurs who are trying to break through the Chinese Wall of Too-Big Business and Too-Big Government.

    We can also have putative unintended consequences from deregulation. Allegedly there were bad outcomes from Jimmy Carter’s deregulation of aviation and financial markets.

    Sometimes, no matter what we do, shit happens.

  25. 30

    Vince with Hare Lip spews:

    Is Jefferson Davis running away from defeat in a wig and dress part of the proud southern heritage they are celebrating in Virginia.

  26. 32

    wig and dress spews:

    Dunno. Was hoping you could tell us about the Jefferson Davis Parkway, or whatever it is, north of deep-South Seattle.

  27. 33

    Michael spews:

    @25

    The republicans of today are still supporting monopolies, mouthing free trade rhetoric and carrying water for the financial industry. They make a lot of excuses but they fall in line behind Wall street bankers every time.

    The Republican’s of today are supporting neo-feudalism.

    http://en.wikipedia.org/wiki/Neofeudalism

  28. 34

    Dr. Dre, Easy E, and MC Ren spews:

    @33…

    looking deeper into the wiki page, I have to almost laugh my ass off at the references..Thom Hartmann(nutball), Noam Chomsky(phony ass motherfucker who is really a capitalist)….

    just saying…

  29. 35

    rhp6033 spews:

    I’m guessing that “whatever name he’s using today” is referring to an incident when Jefferson was governor of Virginia during the latter stages of the Revolutionary War, in June 1781. A British cavalry unit under Tarleton was specifically sent out to capture him.

    Banastre Tarleton had quite a reputation. He was the son of a Liverpool merchant and slave-trader, and inherited a fortune of half a million pounds on his death, which he lost within a year gambling. He took the remainder and used it to pruchase his commission as a cavalry lieutenant in the 1st Dragoon Guards in 1775, ultimately rising to the rank of Lt. Colonel. He was only 22 years old when the Declaration of Independence was signed.

    Tarleton gained infamy leading a unit of Tories (Americans siding with the British) connected with Conwallis army in the South. He gained a reputation for bedding young American girls (some alleged to be as young as age ten), either with or without their consent. At WaxHow he was accused of the massacre of American troops who had surrendered. He alienated Americans with loyalist leanings by acts of cruelty, such as digging up the body of a dead American general and setting his home, outbuildings, and fields on fire after first making his widow serve him a meal.

    Tarleton’s goal was to capture Jefferson and as many delegates of the Virginia legislature as possible. Jefferson received warning they were heading his way only when they were a short distance away. He arranged for the departure of his family and servants, warnings to be sent to neighbors and others, the packing and removal of valuables, then he departed himself with less than ten minutes to spare.

    Of course, George W. Bush and Cheney also fled to “undisclosed locations” after 9/11. Is somehow their flight more couragious than Jeffersons?

  30. 36

    Vince with Hare Lip spews:

    re 34: So, for you, capitalism means monopoly and if Chomsky is a capitalist, he is therefore a monopolist (“phony ass” blah te blah).

    You just don’t seem to be able to read a sentence without filtering it through your nutbag ideology, where 2+2 always = 3.

  31. 38

    righton spews:

    gotta love the supreme irony of Chris Dodd jamming a finance bill; what’s next, a Charley Rangel seminar on vacation properties?

  32. 40

    Vince with Hare Lip spews:

    Re 37: No rational argument will have a rational effect on a man who does not want to adopt a rational attitude.
    Karl Popper

  33. 41

    busdrivermike spews:

    Bonuses at Goldman…$100 million
    National debt increase due to AIG, Goldman, and other wall street criminal acts….
    $1.5 trillion

    Two hundred flights to Guantanamo for summary trial and execution of Wall Street execs…. $50 million

    One day of martial law…… priceless.

    If only I were President…..

  34. 42

    righton spews:

    Ironic that Goldman is filled w/ Dems, gov’t is filled w/ Dems…..yet they trot out this wimpy bill…

    feels fishy to me

  35. 43

    Tarleton Would Rather Fight than Switch spews:

    Oh no, here it comes. A disquisition telling us, at length, that Tarleton was not Tareyton.

    Have been on the stairwell of a Virginia plantation mansion that, so they say, Tarleton rode his horse from bottom to top and back down again.

    Jefferson’s fright-or-flight response: Perhaps it happened as you say, but Chernow and O’Brien tell a different story. O’Brien utterly deconstructs Jefferson as a poseur:

    I have found that whenever Thomas Jefferson “protests in the presence of heaven” or “declares before God” he is certain to be lying.

    Then O’Brien demonstrates from primary sources that Jefferson was lying on many other occasions.

    Jefferson’s frequent declarations before God might be inconvenient for GBS. Even if or particularly because Jefferson seldom meant a word he was saying or writing.

    Re Cheney’s secure undisclosed location and Bush’s manic jet-setting from Sarasota to Louisiana to Omaha … that was more-or-less the SIOP for the apparent start of something big, WWIII.

  36. 44

    busdrivermike spews:

    “Ironic that Goldman is filled w/ Dems, gov’t is filled w/ Dems…..yet they trot out this wimpy bill…

    feels fishy to me”

    Yess….in your world the Democrats are always at the center of the conspiracy. Why, I am sure you believe they ordered all the torture at Abu Ghraib, Bagram, and Guantanamo.

    And that “fishy” feeling: your mind telling you that you are insane.

  37. 45

    EvergreenRailfan spews:

    Actually, the highway named after Jefferson Davis was never called that. It was US99, now SR99(with much of it replaced by I-5), and most called it the Pacific Highway, or Aurora Avenue. We also have monuments to the Grand Army of the Republic(the fraternal organization of the Union Army from the Civil War up here). The GAR Cemetery in Portland has the grave of one of John Brown’s sons(who was not at the Harper’s Ferry Raid).

    It was the Daughters of the Confederacy that lobbied for that name on Washington’s portion of US99, and thankfully only 2 markers were on it, and those were discovered by accident.

  38. 46

    BWD: Blogging While Douchebag spews:

    The Jefferson Davis Highway was never called the Jefferson Davis Highway although there are thankfully only two markers on it calling it the Jefferson Davis Highway?

  39. 47

    Dr. Dre, Easy E, and MC Ren spews:

    LOL @ BWD: BLogging While Douchebag…

    nominated for name of the month….

    too funny….

  40. 48

    BWD: Blogging While Douchebag spews:

    I’m an adherent of Karl Popper.

    Except that you misread Popper’s falsifiability as falsity, and said, “Sounds cool to me! Sign me up!”

  41. 49

    BWD: Blogging While Douchebag spews:

    stairwell of a Virginia plantation mansion that, so they say, Tarleton rode =
    stairwell of a Virginia plantation mansion where, so they say, Tarleton rode …

    And SIOP isn’t right. Am acronymically challenged, but you knew that already.

  42. 50

    Michael spews:

    @34

    The Wiki page was an after thought. I don’t care for Harmann or Chomsky and didn’t look close enough at the page to see them.

  43. 51

    proud leftist spews:

    Michael @ 50
    Hartmann is a treasure when it comes to talk radio and Chomsky should get a national medal of some sort for advancing intelligence. I never run from the left. The left is more often right than wrong.

  44. 52

    Dr. Dre, Easy E, and MC Ren spews:

    @51….lmfao……

    hartmann is just another of the dozens of radio hacks…they guy spends more time stumbling over words and spewing half sentences than anything else.

    and chomsky is yet another of those socialist, leftist “do as I say, not as I do” types..

    and yet the lefty-lemmings just swallow that shit up as fast as it gets spewed out…

  45. 53

    Puddybud sez, Ask the arschloch for his home HA database spews:

    Did the libtardos forget the deal in the making to grandfather in Warren Buffet? OF COURSE THEY DID. IT WASN’T IN ANY OF THE LEFTIST WHACKAMOLE URLS visited by the HA Libtardo Faithful!

    “Sunday night’s deal, hammered out by Senate Banking Chairman Chris Dodd (D., Conn.) and Senate Agriculture Chairwoman Blanche Lincoln (D., Ark.) reflects the populist, anti-bank sentiments simmering on Capitol Hill. A Senate Democratic official said the two have “worked out a deal,” which is expected to be folded into a broader Democratic measure that revamps the U.S. system of financial regulation in the wake of the catastrophic financial collapse that occurred in 2008. The agreement includes a proposal that could force banks to spin off their lucrative derivative trading operations, reshaping Wall Street. The fate of Berkshire’s effort to influence the legislation remains uncertain. Senate officials said Sunday night that most of the details of the agreement haven’t yet been finalized.

    The provision, sought by Berkshire and pushed by Nebraska Sen. Ben Nelson in the Senate Agriculture Committee, would largely exempt existing derivatives contracts from the proposed rules. Previously, the legislation could have allowed regulators to require that companies such as Nebraska-based Berkshire put aside large sums to cover potential losses. The change thus would aid Berkshire, which has a $63 billion derivatives portfolio, according to Barclays Capital.”

    Now we all know Buffet is a big time DUMMOCRAPT, jock strapping all that is know Moonbat! And yet the progressive libtardo-lemmings just swallow that slobbering libtardo MSM shit up as fast as it gets spewed out… or… you jump at the first thing Markos Moulitsas puts forth as “gospel”…

  46. 54

    Puddybud sez, Ask the arschloch for his home HA database spews:

    rhp farted:

    So how do you tell which party has been corrupted more? You ignore their words, and watch their actions. Those that support the greater regulation and transparancy of Wall Street, which the big financiers oppose, is hardly in the back pocket of those same financiers.

    Still waiting for Odumba to return the $994K in Goldman Sucks campaign contributions.

    Still waiting for Odumba to fire all those Goldman Sucks hacks he hired to handle the peeps money.

    Still waiting for Odumba to tell us why Goldman Sucks CEO Lloyd Blankfein was visiting the whitey house while the SEC was meeting with Goldman Sucks.

    And Warren Buffet doesn’t count does he rhp?

    Nary a peep from the HA progressive Moonbat!s

  47. 55

    Puddybud sez, Ask the arschloch for his home HA database spews:

    rhp then farted:

    If you have the facts and figures to try to convince people that the housing collapse of 2007 and the wall street collapse of 2008 were all the fault of Bill Clinton, feel free to try do so on your own.

    Well the New York Slimes OP Ed Editor has finally found some backbone, and this OP ED is laying blame like Puddy suggested long ago… Ask the arschloch for the original PuddyQuotes…

    More important, it was Congress that sat by idly as consumer advocates warned that people were getting loans they’d never be able to pay back. It was Congress that refused to regulate derivatives, despite ample evidence dating back to 1994 of the dangers they posed.

    Bethany McLean, a contributing editor for Vanity Fair, is writing a book about the financial crisis with Joe Nocera of The Times.” So you know she’s one of the progressive slobbering love affair types and not a conservative!

  48. 57

    righton spews:

    i missed the best part; some morons have given patty murray $36mm over the years; WOW. i wouldn’t hire her to scoop poop in my yard, let alone give her money to keep her in office

  49. 58

    Roger Rabbit spews:

    We liberals have nothing to worry about. An entire generation of college-educated young voters — the people who will decide elections for decades to come — aren’t stupid. They’ve learned that Republicans are liars and everything Republicans say is bullshit, and they vote accordingly.

  50. 59

    busdrivermike spews:

    Ha Ha Puddingdick uses an opinion piece by the torture loving Bush appartchik Byron York as “facts”.

    Because Michelle Bachman has not opined yet on the subject?

  51. 60

    Dr. Dre, Easy E, and MC Ren spews:

    @58…and like the generation that preceded them, they will mature, get a career, and start a family…..and become more conservative.

  52. 61

    correctnotright spews:

    More Puddy BS:

    Republicans are standing toe to toe with Wall Street to oppose these reforms and to water them down.

    Ben Nelson? Hah, he was Puddy’s hero for trying to block health care reform.

    Once again, Puddy and the republicans stand with wall street and against the American people.

    Just like they were against universal coverage and elimination of pre-existing conditions in health care, the republicans are once again in the pocket of big business and oppose the needed reforms.

    Puddy can blather all he wants about campaign contributions – but Obama and the democrats are proposing reform that Wall street opposes…while the republicans (who get even more money despite the fact they are not in power) oppose the reform and use obstruction in the senate as their tool.

    Follow the money and then follow the actions – republicans are doing the bidding of big insurance comapnies and big investment and banking firms.

    Explain that away Puddy!

    You can’t – and that is why your obtuse and strident blathering gets more funny as you try harder to avoid the issues – we are laughing at your stupidity and how desperate you are to deflect the real issues away.

  53. 62

    correctnotright spews:

    @55: Yup – it was Phil Gramm who pushed through the credit-default bill and the deregulation bill for the banks….I seem to remember he was the republican deregulation hero that caused this whole mess.

    Puddy seems to have forgotten that as well.

    ooops.

    Nice revisionist history Puddy. Get that from Faux News or some other “credible” source?

  54. 63

    Vince with Hare Lip spews:

    re 60: If by conservative, you mean that they may want to actually conserve things, you may be right.

    I doubt if they will want to conserve a system that destroys their progenies’ ability to survive on this planet.

    Your fondest wish, I suppose, is for your children to become well educated, comfortable, and angry — and show everybody how smart they are by wearing styrofoam boaters with teabags stapled to them.

    Yup! Those teabaggers are much smarter and successful than anyone imagined!!

  55. 64

    Vince with Hare Lip spews:

    re 60: “Everybody said that as time went on they’d all get a little bit older and a little bit slower.” (said in a mocking tone) J. Lennon –’Revolution #9′

  56. 65

    Dr. Dre, Easy E, and MC Ren spews:

    oh poor GBS with a Fat Lip…

    your projecting and imaginary world are only rivaled by the likes of YLB and Goebbels Rabbit..

    keep trying though, you just may take first prize someday..

    ….and J. Lennon sucked….

  57. 66

    correctnotright spews:

    @60: hahaha
    You call the idiot teabaggers mature?

    Those are people who are so dumb they are against the “socialized medicine” but love their Medicare.

    Those are racist fools (a good percentage of the tea-bagging fools), libertarian know-nothings (who think that less regulation will stop banking fraud) and people who are too dumb to look beneath the surface to actually understand things.

    Nope – teabaggers are fools and idiots. Republicans who complain about the deficit – well they are hypocrites. Where were they when Bush and a republican congress were running up record deficits, spending over 1 trillion on an unnecessary war in Iraq or bailing out the banking industry selectively?

    If you did not say anything then – then you have no right to be bleating NOW when the economy started in free-fall from the Bush policies and the lack of banking regulation.

    Oh – it looks like we will get almost all our money back from GM and from the banks (maybe even some profit). And it looks like the economy is finally starting to turn around. It also looks like the private sector is still lagging in job production.

    Remember – only Clinton balanced the budget – Reagan and Bush created the largest budget deficits in history during their tenures.

  58. 67

    correctnotright spews:

    I guess that cat is out of the bag – the late, incomplete and totally ridiculous republican alternative to financial reform is finally out – and just like health care reform it demonstrates where republicans really stand:

    Their attack rhetoric is BS and they screw the little people and the consumers in their “bill”. Of course, their bill is incomplete, sloppy, ill-thought out and similar to the democrats in many ways – except they screw the consumers.

    Republicans either also want to implement permanent bailouts, or they are acknowledging that their meme was complete bunk, as their alternative mirrors Dodd’s language when it comes to unwinding failing financial firms,” writes Garofalo.

    Also noting the GOP bill’s general similarity to Dodd’s, Matt Yglesias points out that one major difference is “what it does to consumer protection.” “On the one hand, it seemingly weakens the independence of the consumer regulator,” writes Yglesias. “On the other hand, it has the consumer regulator preempt any and all state regulations. This is a helpful reminder that nobody on the right actually gives a damn about federalism except as a tool to advance conservative substantive policy—federal preemption of strong state regulation is always welcome.”

    Thinkprogress.com

  59. 68

    Dr. Dre, Easy E, and MC Ren spews:

    GM paid back its govt loan with..wait for it…ANOTHER GOVT LOAN.

    yep…..

    as for the rest of your screed…yah, whatever….nothing but a bunch of generalizations..just more of the same “us vs them” rhetoric that each side spurts out…same old same old…..

  60. 69

    Steve spews:

    @22 “Well, I will give you this, you are more coherent than Puddy.”

    Hardly flattering, SJ. Even my cat is more coherent than Puddy.

    Actually, conversations between my friend the HNMT and my friends on the left are always a great read. And just look at how much more intelligent these conversations in the HA threads are lately when Puddy and the KLOWN aren’t in the mix! No Puddy and no KLOWN. It’s like this is the golden age of HA or something. Enjoy it while it lasts as I’m sure they’ll both be back.

  61. 70

    Puddybud sez, Ask the arschloch for his home HA database spews:

    correctnotright, he ain’t too bright…

    He forgets the deal in place for Warren Buffet… Now why would they deal for Warren Buffet??? He claims it’s all Ben Nelson… butt wait… Chris Dodd and Blanche Lincoln are doing the work… Notice how correctnotright proves he’s not too bright?

    Notice how he continually skips over this fact…

    Notice the fool has an exploding head???

  62. 71

    Puddybud sez, Ask the arschloch for his home HA database spews:

    pusdrivenfright…

    The Arizona law is fashioned after the US law which the feds choose not to enforce. That’s the kicker… Good luck Odumba… looks like you wanna start a race war.

    Notice how progressives are gonna march on a Communist Holiday… May Day? Notice how progressives use the same tactics as the WTO progressives?

    Yep, they are the ones who Hate America!

    Have you noticed not one HA libtardo understands what Mexicans do to Guatemalans when they try to enter Mexico? Everything they cry about in the Arizona law enforcement Mexico does to Guatemalans. Yet the Mexicans scream and shout when they are the beneficiaries of laws. Hmmm… does a libtardo get it yet?

  63. 72

    Dr. Dre, Easy E, and MC Ren spews:

    who fucking cares what the pathetic Mexican govt thinks anyway? Those crooked, inept bastards should thank their lucky stars they dont see a tomahawk cruise missile coming through their window. They are worse than worthless, they are an anchor weighing down the US due to their inability to run a goddamn nation for the last 100 years.