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View Diary: Sen. Corker (R-TN) to GOP on financial reform: "You've got to be kidding me." (update x4) (262 comments)

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  •  Dems get it from Main Street--Repubs (2+ / 0-)
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    OleHippieChick, Losty

    get it from Wall Street....
    My retirement can not afford more republican protection for Wall Street!--can yours?

    c/p from politico:
    April 19, 2010
    Categories:White House.Obama to the Street
    From Gibbs:

    On Thursday, President Obama will travel to New York City where he will deliver remarks at Cooper Union on Wall Street reform. Almost two years after the crisis hit and almost one year after the Administration first laid out a detailed plan for holding Wall Street accountable and protecting consumers, he will call for swift Senate action. The crisis has already wiped out trillions of dollars in family wealth and cost over 8 million jobs. The President will also remind Americans what is at stake if we do not move forward with changing the rules of the road as a part of a strong Wall Street reform package.

    (Jonathan Weisman writes (with some frustration) on Twitter that he first reported this in the Wall Street Journal, but it's behind a pay wall, so nobody noticed.)

    Posted by Ben Smith 09:40 AM
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    DiggDeliciousRedditYahooFacebookGoogleTechnorati.April 19, 2010
    Categories:Wall Street.Goldman figure Paulson hosted Romney, Steele last week
    Republicans Mitt Romney and Michael Steele headlined a Republican National Committee fundraiser six days ago at the home of the hedge fund titan at the center of the Security and Exchange Committee's fraud charges against Goldman Sachs.

    A spokesman for the RNC confirmed the Tuesday evening event at the Manhattan home of John Paulson, who made a fortune betting against the housing market, and whom Goldman is accused of working to structure products sold to unwitting investors.

    Paulson appears not to be facing charges. The RNC spokesman declined to comment on the gathering and a Romney spokesman didn't respond to an email on the topic.

    Republicans have by and large fought regulations on derivative trading that would dramatically impact the businesses of hedge fund managers like Paulson.

    The Goldman charges have sprayed a toxic political cloud out from one of Wall Street's wealthiest corners, raising questions for politicians of both parties, like New York's Senators Kirsten Gillibrand and Chuck Schumer, who raised heavily from Goldman Sachs, and for the recipients  of contributions from the politically-active Paulson.

    Though many hedge fund managers lean Democratic, Paulson has split his giving, offering maximum six-figure contributions both the the Democratic Senatorial Campaign Committee and to the Republican National Committee. Paulson, ranked 45 on Forbes' list of America's richest individuals, made maximum contributions to the presidential campaigns of Mitt Romney, John McCain, and Rudy Giuliani in 2008, but has also given to key Democratic senators for the finance industry, including Chris Dodd and Max Baucus.

    Paulson hasn't given directly to Schumer, though he maxed out to Schumer's committee. But he did host a fundraiser for the senior New York senator earlier this month, describing him in the invitation as "one of the few members of Congress that has consistently supported the hedge fund industry."

    Posted by Ben Smith 09:34 AM

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