Mitch McConnell – A Creature of the Big Banks

Mitch McConnell is getting attacked by the mainstream media, economists, the Democratic Party and others for his parroting of inaccurate Republican talking points about the Financial Reform Bill. Here’s what Nobel winning economist Paul Krugman had to say about his position:

“Now, Mr. McConnell surely isn’t sincere; while pretending to oppose bank bailouts, he’s actually doing the bankers’ bidding. But before I get to that, let’s talk about why he’s wrong on substance.

In his speech, Mr. McConnell seemed to be saying that in the future, the U.S. government should just let banks fail. We “must put an end to taxpayer funded bailouts for Wall Street banks.” What’s wrong with that?

The answer is that letting banks fail — as opposed to seizing and restructuring them — is a bad idea for the same reason that it’s a bad idea to stand aside while an urban office building burns. In both cases, the damage has a tendency to spread.”

Meanwhile the Democratic Party has put together this video showcasing how Mitch McConnell is taking his message directly from the lies that pollster Frank Luntz has tested and found to be effective in generating fear among Americans.

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