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Nice Try, Senator Corker

April 20, 2010

Corker’s Disingenuousness Exposed Immediately After Testing Out New Republican Talking Point for Opposing Financial Regulatory Reform

This morning on MSNBC’s Morning Joe, Sen. Bob Corker (R-TN) unsuccessfully tested out a new Republican talking point for opposing comprehensive financial regulatory reform legislation the Senate will soon take up, claiming "There's nothing in this bill that's tough on Wall Street” --- a claim that flies in the face of reality, particularly given the fierce efforts by over 1,500 Wall Street lobbyists swarming the Hill this week to kill the legislation they know full well will hold big banks to account for laying waste to the economy.

It took mere seconds for the disingenuousness of Senator Corker’s attacks to be exposed when he repeatedly ducked and dodged several follow-up questions from the panelists if he had any plans whatsoever to propose “tougher” legislation.

Watch it here: http://tpmdc.talkingpointsmemo.com/2010/04/corker-says-bill-isnt-tough-enough-only-helps-the-big-guys-video.php

Corker’s failed attempt to justify Republican opposition to holding Wall Street accountable follows the sweeping media scrutiny and ridicule Senate Republicans earned for parroting purposely misleading talking points from a ‘how to’ memo for killing financial reform penned by Wall Street financed pollster Frank Luntz.  (See HERE, HERE, HERE, HERE, HERE)

Despite having worked closely with Senator Mark Warner (D-VA) to negotiate and draft key provisions for systemic risk and resolution authority in the financial regulatory reform bill, it’s disappointing that Senator Corker has chosen to side with Wall Street over Main Street by signing onto a letterpromising to obstruct it along with all 40 of his GOP Senate colleagues.

The letter was circulated by Republican Senate Minority Leader Mitch McConnell just days after it was revealed that he and NRSC chairman Sen. John Cornyn (R-TX) had a  “private meeting with elite hedge fund managers and other Wall Street executives” in New York with the purpose of enlisting “Wall Street’s help” in electing more Republicans and killing any tough financial reform.

When the showdown over financial regulatory reform commences this week in the Senate, how many Republicans will be able to maintain a straight face claiming they stand on the side of Main Street after rolling out the red carpet for Wall Street executives and lobbyists?  They’ve all done a remarkable job to date.