Hogwash
July 14th, 2010
Senator Grassley Claims He Now Opposes Wall Street Reform Bill Because Wall Street Banks …Support It?
That’s News to the Financial Industry Which Has Spent $1.4 Million a Day to Kill Reform
WashingtonDC– Senator Chuck Grassley (R-IA) is trying to pull a fast one the people of Iowa on behalf of his friends on Wall Street. Grassley announced today that he can no longer support the Wall Street Reform and Consumer Protection Act, claiming: “It’s a bill most of Wall Street wants passed…if Wall Street’s pushing for it, is it really much of a change for Wall Street?” That is certainly news to the American Banking Association, Business Roundtable, and the U.S. Chamber of Commerce – major trade groups representing the financial industry that have come out in vocal, public opposition to the reform bill.
Tom McMahon, Executive Director, Americans United for Change:“To say the big banks support this Wall Street reform bill is total hogwash, and Senator Grassley of all people knows it. The Senator no doubt heard all about Wall Street’s animosity with reform when he was recently the guest of honor at a $2,000 a plate breakfast hosted by one of the biggest Wall Street banks. Make no mistake: Senator Grassley’s opposition to financial reform has nothing to do with what’s best for main streets in Iowa and everything to do with the $2.6 million in campaign contributions he’s taken from Wall Street interests over the years.”
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