Look Who is Cozying Up to Wall Street
Late last week, America's most powerful Republican Senators met with 25 Wall Street executives for a private meeting. Wall Street's most powerful fat cats got the chance to bend the ears of these powerful Republican leaders. Fox Business:
About 25 Wall Street executives, many of them hedge fund managers, sat down for a private meeting Thursday afternoon with two of the most powerful Republican lawmakers in Congress: Senate minority leader Mitch McConnell of Kentucky, and John Cornyn, the senior senator from Texas who runs the National Republican Senatorial Committee, one of the primary fundraising arms of the Republican Party.
The stated topic of the meeting: The Financial reform bill being sponsored by Senator Chris Dodd, the Democrat and chairman of the senate banking committee. Both McConnell and Cornyn listened to numerous complaints the executives have with the bill. These included complaints about provisions that allow the government to continue to prop up financial institutions
that are “too big to fail.”
Just a few days after McConnell met with his Wall Street benefactors, he came out, guns blazing, against financial regulatory reform.
Senate Minority Leader Mitch McConnell (R-Ky.) came out in opposition Tuesday to the Democratic financial regulatory reform bill...
You can bet that their Wall Street friends are pleased with McConnell's opposition. Look for Mitch's Wall Street friends to start rolling the campaign contributions into the coffers of the National Republican Senatorial Committee.