Huffington Post, Sam Stein:

In a 17-page memo titled, "The Language of Financial Reform," Luntz urged opponents of reform to frame the final product as filled with bank bailouts, lobbyist loopholes, and additional layers of complicated government bureaucracy.

"If there is one thing we can all agree on, it's that the bad decisions and harmful policies by Washington bureaucrats that in many ways led to the economic crash must never be repeated," Luntz wrote. "This is your critical advantage. Washington's incompetence is the common ground on which you can build support."

Luntz continued: "Ordinarily, calling for a new government program 'to protect consumers' would be extraordinary popular. But these are not ordinary times. The American people are not just saying 'no.' They are saying 'hell no' to more government agencies, more bureaucrats, and more legislation crafted by special interests."

"The American people are tired of add-ons, earmarks, and backroom deals - but they are mad as hell at 'lobbyist loopholes,'" Luntz wrote. "You must put proponents of the legislation on the defense, forcing them to attempt to justify the 'lobbyist loopholes' and exemptions placed in the bill... Highlight the exemptions. Broadcast them. Remind them, 'The legislation is filled with lobbyist loopholes that exclude certain wealthy, powerful industries from regulations.'"

On the specific issue of a Consumer Financial Protection Agency, Luntz argued that opponents should stress the high-cost of creating an additional regulatory body in addition to the damaging effects it will supposedly have on "small business owners" (as opposed to, merely, small businesses).

"Owning a small business is part of the American Dream and Congress should make it easier to be an entrepreneur," wrote Luntz. "But the Financial Reform bill and the creation of the CFPA makes it harder to be a small business owner because it will choke off credit options to small business owners."

"Acknowledge the need for reform to see this never happens again, but be sure the reform does not come from additional Washington based regulatory powers"
Just the kind of clear thinking that the GOP needs to make in order to "make sense" to its dumbed-down base.

"If there is one thing we can all agree on, it's that the bad decisions and harmful policies by Washington bureaucrats that in many ways led to the economic crash must never be repeated"
Luntz inadvertently and unwillingly betrays the GOP and thus is kind enough to provide the very argument needed against the Republican position.

This is the Republican party that  we have all come to understand. Pro-business, anti-regulation, huge tax cuts for the wealthiest 1% while proposing across the board spending cuts for vital programs....ignoring the very problems that got us into this economic mess in the first place. If legislation assists wealthy business interests over that of working folks... they're all for it, is really the Luntz message here. The Republican base is just too stupid to realize it and the Democratic leadership seems too inept to be able to get that message across to average Americans.

Democrats need to remind Americans about the economic history of this country. It was not necessary to bail out banks when we had financial regulation. Since deregulation there have been 4 bubbles and 2 major bailouts that have cost the U.S. more than all the money spent on welfare and food stamps since its creation.