Thursday, April 15, 2010

Defending the Big Banks: GOP's McConnell Gets Hit by Hometown Paper

Senate Minority Leader Mitch McConnell is "unabashedly courting Wall Street bankers for political money.

So says McConnell's hometown newspaper, the Lexington Herald-Leader. 

Here's a sample of the Herald-Leader's spot-on attack:
McConnell's statements are perfectly calibrated to inflame the public. He insists the bill would "allow endless taxpayer-funded bailouts for big Wall Street banks." Their resemblance to the truth is another matter....
McConnell, it should be remembered, voted for the bailout of the big investment banks in the fall of 2008, when it was the only alternative to global economic meltdown. We have read that the Republicans have a plan for financial reform, but McConnell isn't talking up any solutions, just trashing the other side's ideas with no respect for the truth.
While the intricacies of financial regulation are complicated, McConnell's calculus is pretty obvious.

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