It's a Floor Wax AND a Dessert Topping!

Obviously, repugs must stop Congressional Democrats and President Obama from achieving another great populist legislative victory as the proposed Wall Street reform bill would be.

But how to oppose something so popular among voters who will be choosing their members of Congress in a scant seven months? Lie, of course. But which lie and to whom? Tell the banksters that if they give you enough money you'll stop the legislation that would put an end to the fraud and theft? Or tell the public that if they give you enough money you'll stop the legislation that will cause even more bailouts?

Why not both?

Steve Benen explains:

Senate Republicans want to kill legislation intended to reform the way Wall Street operates, but isn't quite sure how to make this politically palatable. Americans still aren't fond of the financial industry -- its recklessness brought the global economy to its knees, and a lot of us held a grudge -- and want to see reform. The GOP wants to deny Democrats a victory and help Wall Street, no matter the costs. What to do?

The first step for Senate Republicans was to have a private meeting with elite hedge fund managers and other Wall Street executives. The second step was to make it seem like the Democratic proposal to clean up the industry is somehow pro-bailout.

Republicans spent much of the recess gaming out their strategic posture on the Democrats' push to pass a major Wall Street reform bill, and it looks like they've finally settled on one: The GOP will oppose the proposed new regulations on the grounds that they will make future bailouts of big financial institutions more likely.
SNIP

"We cannot allow endless taxpayer funded bailouts for big Wall Street banks," said Senate Minority Leader Mitch McConnell on the floor this morning. "That's why we must not pass the financial reform bill that's about to hit the floor. The fact is this bill wouldn't solve the problems that led to the financial crisis. It would make them worse."

McConnell said the bill in question, authored by Senate Banking Committee chairman Chris Dodd, would "not only allow for taxpayer funded bailouts for Wall Street banks. It institutionalizes them."

Remember, it doesn't have to make sense. It doesn't have to be true. It doesn't even have to be persuasive. It just has to be repeated, endorsed by conservative media, embraced by right-wing activists whose ignorance is easily exploited, and folded into the "debate" for the American mainstream.

Remember, no matter how deferential to corporate money Democrats may become, they will never be the total whores for whatever abomination Wall Street wants that the repugs are.