GOP Blocks Finance Reform and Sides with Wall Street
I didn't think that they were that stupid but apparently they are. The SAME day that the SEC goes after Goldman Sachs for fraud charges, the GOP decided to drink the greedy Wall Street, fat cat, I-would-sooner-sell- my-own-mother-than-help-the-little-guy Kool-Aid.
A letter signed by all 41 Republican Senators indicated that they would not support the Democrat plan to reign in Wall Street and prevent another financial crisis.

Remember how angry we were at having to bail out Wall Street while we could see them apologetically dining on champagne and caviar, while giving themselves huge bonuses. After all, they were the most talented people in the banking business.
We bailed them out not to save them, but to save America. And they knew it. Wall Street made some noise about how they agreed that the financial system needed to reformed to prevent us from flirting with financial ruin again. But they were lying. They took that government money, paid themselves off, stopped making loans to people on Main Street (the purpose of getting the government bailout) and started doing what they do best: protect their pockets. Wall Street firms poured lobbying money into Congress. Data forms filed with Congress reviled that lobbying expenditures were up 12% in 2009 to $29.8 million compared to 2008. Most of the spending in 2009 came in the last three months as Congress moved forward on finance reform legislation.
You say potato, I say government bailout. In a letter to Senate Majority Leader Harry Reid (D-NV) Senate Minority Leader Mitch McConnell (R-KY.) wrote "[w]e simply cannot ask the American taxpayer to continue to subsidize this "too big to fail" policy. We must ensure that Wall Street no longer believes or relies on Main Street to bail them out. Inaction is not an option." The letter was co-signed by the entire remaining 40 Republican Senators.
Apparently the story the Republicans are putting out is that the Democratic plan for finance reform will allow for more taxpayer bailouts. It would be a good talking point and rally cry for the GOP if the bill did not explicitly say that it would NOT sanction more government bailouts of Wall Street.

AUC is hoping to get its ads on conservative sites such as Townhall.com, Biggovernment.com and on Facebook pages populated by fans of Rep. Ron Paul (R-Texas) and Tea Party groups. The ads accuse Republicans of selling out Main Street to Wall Street executives to weaken finance reform legislation
"They're In The Pocket Of Big Banks," reads one online spot, with a picture of Senate Minority Leader Mitch McConnell (R-Ky) pasted below the text.
Recent polls say that the Tea Party wants to rein in Wall Street -- but Senate Republicans are doing their best to shield them with weak and ineffective legislation. Jeremy Funk, communications director at AUC believes that "[b]y highlighting this gaping chasm... we expect the potential political consequences of standing with the big banks will make a number of Republicans think twice about opposing financial reform."
By Michelle Loggins