Tune Out Those Deceitful, Anti-Wall Street Reform TV Ads Running in Nevada Paid for by Wall Street

April 23, 2010

If you’ve turned on the TV lately, it’s hard to have missed a new ad from a shadowy outfit calling themselves ‘Stop Too Big To Fail,’ which is reportedly spending $1.6 million on the airwaves targeting a number of U.S. Senators including Majority Leader Harry Reid.   The ad claims that the comprehensive Wall Street reform legislation before the Senate “could lead to more big bank bailouts’ and asks viewers to tell their senators, "vote against this phony 'financial reform.”  


‘Phony’ is actually a perfect word to describe this group, and ‘fraudulent’ is the only word to describe their rhetoric.  In response to the Wall Street misinformation campaign, Americans United for Change has produced a new web video called ‘FRAUD.’ 


Watch it here:


As was reported extensively on and on The Rachel Maddow Show, ‘Stop Too Big To Fail’ has links to DCI Group, a “Washington public affairs firm that specializes in astroturf efforts and has worked for everyone from the Burmese junta to the tobacco industry.”  And today DCI Group is doing the dirty work for the big Wall Street banks that are desperately trying to kill financial regulatory reform and deflect any accountability for their greed and recklessness that led to the collapse of the financial system and left 8 million people without jobs.


And if the ad’s claim that the Wall Street reform legislation “could lead to more big bank bailouts’ sounds familiar, it’s because it’s the same false, widely discredited claim that Senate Republicans have been making for weeks  -- rhetoric cribbed directly from a ‘how to kill reform’ memo from Wall Street financed pollster Frank Luntz. 


SEE ‘Bank bailouts not in bill’


It was recently revealed that Republican Senate Minority Leader Mitch McConnell (R-KY) and NRSC chairman Sen. John Cornyn (R-TX) held 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.  Just days later, McConnell gathered the signatures of all 41 Senate Republicans on a letter in opposition to the President’s financial regulatory reform bill.


It’s also been reported that the big Wall Street banks have spent almost $7 million in lobbying this year and have dispatched over 1,500 Wall Street lobbyists to the Hill this week to kill reform.  The big Wall Street banks are sparing no expense to kill financial reform and that Senate Republicans, hopelessly addicted to Wall Street campaign cash, are all too happy to offer their services.  


Think about it.  If the legislation before the Senate truly meant more “bailouts” for Wall Street banks, why would these same Wall Street banks and the Republicans in their pockets be pulling out all the stops to kill it?  The big banks know full well this legislation protects the American consumer from them.  The big banks know full well it will prevent them from taking the same huge risks with other peoples’ money that led to financial catastrophe and the worst recession since the Great Depression.


When the showdown between Wall Street and Main Street commences next week in the Senate, it’s plain to see who Harry Reid will be fighting for – the people of Nevada.


BACKGROUND ‘Rent-A-Front: New Group Wages Stealth Battle Against Wall Street Reform’ ‘Maddow Tackles Anti-Financial Reform Group 'Stop Too Big To Fail' (VIDEO)’


Media Matters: FactCheck: ‘Wall Street Front Group, Stop Too Big To Fail, Launches False Ads Against Reform’ ‘Bank bailouts not in bill, but liquidation is’


Click Here to Watch New Web Video “Fraud”


SCRIPT: ‘Fraud’


Last week Wall Street giant Goldman Sachs was accused of defrauding investors – a scheme so big it resulted in the biggest Securities and Exchange Commission action in memory.


Now Wall Street is at it again – this time defrauding the American public.


Now a Rachel Maddow expose tells us Wall Street has even hired some of the same PR people who defended Big Tobacco and the Burmese Military Dictatorship.


Now this group is posing as a financial reform group and spending millions on attack ads to convince the public that the bill to hold the Wall Street Banks accountable is really a bailout for the big banks.


Tell Wall Street: Stop Shorting America.
No more fraud on the Street.
No more fraud on the airwaves.
No more fraud in Congress

Paid for by Americans United for Change.