April 27th, 2010
07:51 PM ET
8 years ago

Obama calls out Republicans over Wall Street reform

Ottumwa, Iowa (CNN) – Saying Republican senators are preventing a legislative debate the American people deserve, President Obama called out the GOP at an Iowa rally Tuesday.

"The American people deserve an honest debate on this bill." Obama told the crowd. "You should not have to wait one more day."

For the second time in as many days, Senate Republics blocked efforts Tuesday to move the debate forward on a financial reform bill because, in the GOP's view, there needs to be more focus on making sure there are no loopholes for banks to be "bailed out" in the future.

Before the Iowa crowd, the president took issue with Republicans' united front.

"Senate Republicans unanimously blocked efforts to even begin debating reform," Obama said. "They won't let it [the bill] get on the floor to be debated. It's one thing to oppose reform, but to oppose just even talking about reform in front of the American people and having a legitimate debate? That's not right."

Filed under: GOP • President Obama • Wall Street
soundoff (40 Responses)
  1. capt snarky

    Hey, Mr. President. How about directing your minions to delete the loopholes in this bill, and maybe you'll get some traction..............

    April 27, 2010 07:58 pm at 7:58 pm |
  2. Larry

    Mitch McConnell, one of the biggest obstructionists of this reform bill, is on C.R.E.W.'s list of Most Corrupt Politicians in Washington.

    His main contributors are Securities and Investment firms.

    April 27, 2010 08:05 pm at 8:05 pm |
  3. Patriot

    Just about says it all. I am an independent and its pretty clear that the only reason republicans are voting in lock step is politics.

    April 27, 2010 08:06 pm at 8:06 pm |
  4. Roger

    Ths President needs to stop his constant "showboating" parade and govern! He has become a farce and is just showing everyone that he's all smoke and mirrors, an empty suit without his teleprompters.

    April 27, 2010 08:07 pm at 8:07 pm |
  5. ThinkAgain

    Hear, hear, Mr. President! The Republicans continue to show they care more about Wall Street than Main Street, more about their party than our country!

    People are watching and listening and those who can think, will be voting for the party that actually is working for the American people: The Democratic Party!

    April 27, 2010 08:15 pm at 8:15 pm |
  6. Anonymous

    The hypocrits known as the Republican Congress- no relfection on the citizens that are Republicans- keep showing their stripes ans political hacks.
    They don't like all the aspects of the Financial Reform bill but refuse to let it be discussed? What is that? This politically motivated group of hacks are a joke. Whether you agree with the policies of the party or not, this particular group must go. Thye represent no one but themselves.
    " For the People, By The People"

    April 27, 2010 08:15 pm at 8:15 pm |
  7. Carl Justus

    We once again see the so called conservatives standing up for the bankers who almost put this country into a depression.

    The republicans cannot stand to see any meaniful reform to curb the abuse of our economy and consumers.They are owned by the rich and the corporations the rich executives have complete control over.

    The republicans rhetoric is they are standing up for the middle class, tell me when a the republicans have stood up for the worker?? They call 10 to 12 dollars a hour GOOD WAGES. They oppose any kind of unions for the workers to stand together and maybe get a living wage with a few benfits.

    The republicans are no better than a gunman holding up a store, only in this case they are holding up the ability of the middle class to be assured that the middle class have to bail out rich once again. They refuse to even have a debate, They say do not rush, they have been talking for 17 months, how long do the republcians want to debate this bill, until the bankers fill their campaign coffers to brim so they can buy enough seat in congress to give the rest of the country to the bankers?

    April 27, 2010 08:19 pm at 8:19 pm |
  8. November can't get here fast enough!

    Good job GOP. Continue to fight the expansion of this out of control government. Vote against every bill that the liberal American hating scum suckers throw out that allows the federal government to take over institutions they deem are in trouble.

    April 27, 2010 08:20 pm at 8:20 pm |
  9. Jonny

    Republican'ts Stonewall EVERYTHING!

    April 27, 2010 08:20 pm at 8:20 pm |
  10. Capsaicin

    It's called stalling–it's what the GOP does best. This is just blind repetition of their healthcare tactics. Why not bring up the loopholes by talking about them so we can see your ideas Republicans? The fact is you are and always were in the pocket of the big banks.

    Obama and some Dems are beholden to the banks too, but at least they are willing to fight against the greedy SOBs too.

    April 27, 2010 08:24 pm at 8:24 pm |
  11. Ed

    Republicans what is the problem here? What amendments to this bill do you want to add that you cannot have them heard by the American people. I thought you supported transparency in government.

    April 27, 2010 08:25 pm at 8:25 pm |
  12. David Scott

    Rip-publicans are the problem... not at all the solution. They are in for a real beating in November if they keep up "THE PARTY OF NO". What a bunch of lying bigots the whole rip-publican party is.
    They want AMERICA TO FAIL. \

    SCREW ALL LYING rip-publicans.

    April 27, 2010 08:28 pm at 8:28 pm |
  13. chris

    Of what could they be afraid?

    April 27, 2010 08:30 pm at 8:30 pm |
  14. Paul Ernest Show

    I don't know where and how the president finds these Republicans he is calling out. It is a waste of time. You cannot find them because they sneaking behind many closed doors, making deals with Wall Streeters and stuffing their pockets with their money, while their fellow Americans suffer and die slowly. The number of people I know, who have died from heart attacks and other kinds of stress related sicknesses have sharply increased, but unfortunately Republicans, as usual, have to protect the interests of a few over many. The airways are replete with falsehood and deceptive information, propaganda, and Americans are basically confused on truth. Real Machievellian, of republicans. Tragic indeed.

    April 27, 2010 08:30 pm at 8:30 pm |
  15. Desmond in Canada

    I feel so sorry for the USA because it has to contend with possibly the worst political party in the world – the Repubs! Sad, very sad!

    April 27, 2010 08:32 pm at 8:32 pm |
  16. Steve (the real one)

    "The American people deserve an honest debate on this bill." Obama told the crowd. "
    We also deserves an honest debate about health care too! I remember the closed door sessions and the promises to have everything upfront, transparent AND on CSPAN!

    April 27, 2010 08:35 pm at 8:35 pm |
  17. Steve (the real one)

    "The American people deserve an honest debate on this bill." Obama told the crowd. "
    We also deserved an honest debate about health care too! I remember the closed door sessions and the promises to have everything upfront, transparent AND on CSPAN!

    April 27, 2010 08:35 pm at 8:35 pm |
  18. Gerri

    America has lost focus on what is really going on with their republican representatives. Every single one of them have tried to stop any progress the Obama Administration has tried to make on any issue thus far. The shame in this is that America loses and nothing changes because the republicans choose to stand by their big business campaign donations to be re elected into office to do the same thing over and over. It's all about the money from the top of the financial spectrum and how much they are willing to give the "political" spectrum to get what they want. NO FINANCIAL REFORM! Let them keep stealing from us! And, if you agree with that, somehow, somewhere, there is something in it for you!

    April 27, 2010 08:37 pm at 8:37 pm |

    I am belived that obama are wrong so repubilican are keep strong that obama

    April 27, 2010 08:38 pm at 8:38 pm |

    Than obama presdient

    April 27, 2010 08:40 pm at 8:40 pm |
  21. Thank You Republicans

    The Republicans have to stop it from reaching the floor because the Democrats have done a great job proving they can ram a bill through, good or not. As was seen when they passed through a bill that was going to fix healthcare and save us money only to find out a month later that it will not only raise costs faster than doing nothing over the next 10 years, if the Medicare cuts are repealed 15% of hospitals will go in to the red according to HHS.

    April 27, 2010 08:41 pm at 8:41 pm |
  22. Minnie the Mouse

    The Republican Party and it,s members have hijacked the White House, the Capitol, the Senate and Congress....
    This is a Hold-Up in WASHINGTON D.C. And they don't give a hoot about the Suffering of the American People.....
    They are Greedy, Dishonest, Fat Cats who are looking for new and better ways to cheat the people out of the American Dream and the Pursuit of Happiness...
    They are putting up road blocks that leads to Progress and Improvement.
    The GOP party members are a bunch of Conservative Cowards and are afraid of their own Shadow and anything that Move are Change....
    They are Stalling, Blocking and Looking for loopholes, but the holes and loops are in their narrowed-minded heads !!!!

    April 27, 2010 08:44 pm at 8:44 pm |
  23. Anonymous

    Yeah, like the honest health care debate! Hypocrite!!!

    April 27, 2010 08:47 pm at 8:47 pm |
  24. Brian in California

    It seems to be only one thing that is holding up the debate, that industry-funded bailout savings account. I've heard republicans saying this will lead to more taxpayer bailouts BUT how is that true when it is INDUSTRY funded through THEIR taxes or fees???

    It sounds like to me the Republicans are simply putting out their misinformation again. Their comments again, like during the healthcare reform debates, are simply untrue. Why are they so set on stopping legislation put forth by Democrats that includes virtually all of their ideas? WHY?? Is it obstruction for the sake of obstruction?? It really seems to be. It seems they'd rather spread a multitude of misinformation or lies rather than be part of the solution and get a good, much needed piece of legislation past.

    April 27, 2010 08:48 pm at 8:48 pm |
  25. Sheri

    Who do these Republican's fools think they are kidding anyway??! Crooks eventually get caught in their own trap! This is a PRIME example as to the very reason me or my family will NEVER vote for a Republican for the rest of our lives!

    April 27, 2010 08:48 pm at 8:48 pm |
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