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[big campaign] UPDATE: Senate GOP Again Silence Debate on Wall Street Reform - Just Imagine the Bonus Checks on the Way from the Big Banks

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Updated statement from Americans United for Change acting executive director Tom McMahon on the Senate Republicans' second successful block in two days<http://www.forbes.com/feeds/ap/2010/04/27/general-financials-us-financial-overhaul_7553613.html?boxes=Homepagebusinessnews> of debate from moving forward on comprehensive Wall Street reform: "Silencing any and all debate on Wall Street reform two days running, the Senate Republicans have earned every dime of the millions they've shaken from the big bank money tree. Just imagine the bonus checks that are on the way from banking executives and hedge fund managers." And, in case you missed it: Wall Street Journal: Wall Street Rules Help GOP Fill Campaign Coffers April 27, 2010, 7:30 AM ET http://blogs.wsj.com/washwire/2010/04/27/wall-street-rules-help-gop-fill-campaign-coffers/ By Brody Mullins Republicans may lose the fight over Wall Street regulations, but the fight has helped their campaign accounts. For the first time since 2004, the biggest Wall Street firms are now giving most of their campaign donations to Republicans. A Wall Street Journal analysis of 12 large financial services companies, including J.P. Morgan Chase & Co., Goldman Sachs Group Inc. shows that they have collectively made $1.4 million in political donations, with 52% going to Republicans so far this year. [...] [T]he Wall Street firms have also begun writing large checks to the Republican Party, while stiffing the Democratic Party. Goldman, KPMG, and FMR Corp. (the owner of Fidelity Investments) each gave $15,000 to the Republican Party in March. ________________________________ From: Jeremy Funk Sent: Monday, April 26, 2010 6:12 PM To: Jeremy Funk Subject: PAYBACK: Senate Republicans Block Wall Street Reform, Fulfill Promise to Big Bank Donors [cid:[email protected]] www.AmericansUnitedforChange.org<http://www.americansunitedforchange.org/> FOR IMMEDIATE RELEASE CONTACT: Lauren Weiner, 202-470-5870 April 26, 2010 Jeremy Funk, 202-470-587 The Big Payback<http://www.youtube.com/watch?v=vsOmvSlPuys>: Senate Republicans Block Wall Street Reform, Fulfill Promise to Big Bank Donors Americans United for Change: "It's not a question of whether Wall Street reform is going to pass -- it's a question of how long Republicans can run from the pitch forks on Main Street." Washington DC - Americans United for Change issued the following statement from acting executive director Tom McMahon in response to the refusal tonight by Senate Republicans to allow a debate on the President's proposal for holding Wall Street accountable<http://banking.senate.gov/public/_files/FinancialReformSummaryAsFiled.pdf>: "Look up 'Quid pro quo' in the dictionary and you'll find a picture of Republican Senate Minority Leader Mitch McConnell with his hand out to hedge fund managers and banking executives <http://thinkprogress.org/2010/04/13/mcconnell-financial-hedge-fund/> just days before leading the filibuster against Wall Street reform. Pretending as if the financial crisis that cost over 8 million Americans their jobs never happened, Senate Republicans today stood in unanimous support of Wall Street over the Main Streets that suffered the consequences of the big banks' greed and recklessness. "Senate Republicans stood in unanimous opposition to even having a debate on this comprehensive legislation to end taxpayer bailouts, shine a bright light on the shadowy derivatives markets, and establish a new watchdog agency on Wall Street that will protect American consumers against Madoff-style scams. They did just what they were told by the 1,500 Wall Street lobbyists<http://tpmdc.talkingpointsmemo.com/2010/04/a-matter-of-influence-lobbyists-and-financial-execs-swarm-in-to-dc-to-push-against-wall-street-refor.php> camped out their offices this week that got every dime's worth of the $465 million<http://thehill.com/business-a-lobbying/83021-ambitious-agenda-pushes-k-street-salaries-skyward> they spent last year to kill reform. "Counting on Republicans to block financial reform was the safest and surest bet Wall Street executives have made in a very long time. But, with two-thirds of American people<http://voices.washingtonpost.com/behind-the-numbers/2010/04/most_back_stricter_financial_r.html?wpisrc=nl_natlalert> in support of stricter regulations for banks and other financial institutions, Senate Republicans just made the riskiest gamble of their careers. In the face of overwhelming public demand that Wall Street be held accountable for laying waste to our economy, it's not a question of whether reform is going to pass -- it's a question of how long Republicans can run from the pitch forks on Main Street<http://ourfinancialsecurity.org/2010/04/americans-rally-across-the-country-to-hold-big-banks-accountable/>." BACKGROUND: ThinkProgress, April 13th: McConnell Slams Financial Reform Bill After Meeting With Hedge Fund Managers And Other Wall Street Elites <http://thinkprogress.org/2010/04/13/mcconnell-financial-hedge-fund/> ThinkProgress, April 22nd: VIDEO: Bank Lobbyists Huddle For Another Secret Meeting With GOP Senators <http://thinkprogress.org/2010/04/22/another-gop-bankfundraiser/> ThinkProgress, February 1st: Wall St Consultant Frank Luntz Pens Memo On How To Channel Economic Anxiety Into Protecting Wall St Abuses <http://thinkprogress.org/2010/02/01/luntz-finance-industry/> TalkingPointsMemo, April 13th: GOP Echoes Luntz: Dems' Wall Street Reform Bill Will Lead To More Bailouts<http://tpmdc.talkingpointsmemo.com/2010/04/gop-leaders-echo-luntz-democrats-wall-street-reform-bill.php> Public Citizen: 'Those opposed to moving forward have taken 25 percent more in campaign cash'<http://www.citizen.org/pressroom/pressroomredirect.cfm?ID=3117> -30- -- You received this message because you are subscribed to the "big campaign" group. To post to this group, send to [email protected] To unsubscribe, send email to [email protected] E-mail [email protected] with questions or concerns This is a list of individuals. It is not affiliated with any group or organization.
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