May 5th, 2010
04:30 PM ET
8 years ago

Reid says Republicans 'making love to Wall Street'

Washington (CNN) – Senate Majority Leader Harry Reid lobbed an unusual accusation at his Republicans colleagues Wednesday, saying they are looking for a way to "continue making love to Wall Street."

"Republicans are having difficulty determining how they are going to continue making love to Wall Street," Reid said at a news conference, before adding that "It's obvious that they don't want to put any decent restrictions on what Wall Street has done or are doing."

While Democrats and Republicans have accused each other of being to cozy with Wall Street, Reid's remarks went a step too far for the GOP.

"Considering Nevada's unemployment stands at 13%, Senator Reid would be well-advised to get his mind off sex and onto getting America's economy back on track," National Republican Senatorial Committee Communications Director Brian Walsh said in a statement to CNN.

Reid, though, is standing by his comment. When asked by CNN about the remark, Reid spokesman Jim Manley replied, "What can I say? It's true."

But moments after slamming Republicans, and still perched behind a podium emblazoned with the words "Standing up for Main Street," Reid said he was hoping for a breakthrough in negotiations.

Reid's comments come on the same day that top senators on the Senate Banking, Housing, and Urban Affairs Committee released the details of a bipartisan deal on how to unwind big financial firms that are considered too big to fail.

Among the more significant changes, Democrats are officially dropping the tax on banks that would have funded a $50 billion pot of money that regulators could tap to help take down failing banks. Now the bill stipulates that banks will be taxed to pay unwinding banks after a collapse.

- CNN's Dana Bash and Jen Liberto contributed to this story

Filed under: Extra • GOP • Harry Reid • Popular Posts
soundoff (76 Responses)
  1. CNN milking this one.

    Now that's offensive. Could you imagine if a republican said that about the democrats. There would be protests all over and CNN would be promoting the protests.

    May 5, 2010 04:32 pm at 4:32 pm |
  2. Claudia, Houston, Tx

    If Reid's comments went too far for the GOP then they to prove they aren't willing to continue "making love to Wall Street".

    May 5, 2010 04:33 pm at 4:33 pm |
  3. Dutch/Bad Newz, VA

    Funny Harry. As Majority Leader, you should have all members of the Senate watch Michael Moore's "Capitalism: It's a Love Story" movie.

    May 5, 2010 04:34 pm at 4:34 pm |
  4. Larry

    We know all this Reid. The question is what are you going to do about it?

    You still have the majorities in the House and Senate.

    May 5, 2010 04:35 pm at 4:35 pm |
  5. American Patriot -- a "real" tea partier

    "Make love" to Wall Street?

    That's a polite way to put it.

    May 5, 2010 04:38 pm at 4:38 pm |
  6. Justin Russell

    Talk about stating the obvious.

    May 5, 2010 04:38 pm at 4:38 pm |
  7. Carmelle


    That's a good one.

    May 5, 2010 04:39 pm at 4:39 pm |
  8. MikeH

    Good one Harry, all too true.

    Sadly the same applies to many Democrats as well.

    If the corrupt Republiklans are like high class prostitues sipping champaign, the corrupt Democrats are like street-walkers hiking their skirts.

    Need to limit lobbyists to solve this problem, before it's too late and America turns into a theo-facist plutocracy.

    May 5, 2010 04:42 pm at 4:42 pm |
  9. rachel

    What ever wonder who got the most money from Goldman sachs oh that's right the current president. Hush up reid with any luck your done.

    May 5, 2010 04:44 pm at 4:44 pm |
  10. Sniffit

    LOL...weird word choice, but he's still right. The GOP's working on its second set of kneepads after burning thru the first set with the health insurance industry. You'd think their jaws would be tired, but no...we have to listen to their irrational ideological blather day in and day out....

    May 5, 2010 04:45 pm at 4:45 pm |
  11. All the news that's fit to omit

    Wow, he is funny and soon to be unemployed........

    Obama was number two with Fannie and Freddie and Dodd was number one, gee, I wonder why they were out of the supposed REFORM BILL.

    Anyone, Bueller, Bueller?

    In the last 20 YEARS, Owebama got more money from BP than anyone.......

    Owebama was also NUMBER ONE with Goldman Sachs.....

    Gee Barry, your on a roll genius........

    PLS go out an stump for more Democrats, you are on a streak baby.

    I can see November from my house people and it's beautiful.....

    May 5, 2010 04:47 pm at 4:47 pm |
  12. Right Leaning Independent

    Wall Street creates jobs! Not Main Street and not the Government! As soon as Obama, Reid and Pelosi figure this out, they will quit their attacks on them!! Until then, Wall Street will let them drown in unemployed Americans!!

    May 5, 2010 04:47 pm at 4:47 pm |
  13. Bill

    Harry, just what would you know about making love?

    May 5, 2010 04:48 pm at 4:48 pm |
  14. steven harnack

    It's obvious why the Republicans were opposed to the fund. The BANKS would have had to put up the money and that might cut into campaign donations.

    May 5, 2010 04:48 pm at 4:48 pm |
  15. aaron in minneapolis

    Notice the republican response did not deny it.

    May 5, 2010 04:49 pm at 4:49 pm |
  16. get real

    Corporations are considered people now...The Supreme Court said so. I have no problem with two consenting adults enjoying each other's company.

    May 5, 2010 04:49 pm at 4:49 pm |
  17. Dean

    It's real clear the republicans are stalling on this so they can rake in cash come election time courting all the wall street firms. Republicans must think we are all stupid.

    May 5, 2010 04:52 pm at 4:52 pm |
  18. John in Brooklyn

    The GOP...particularly GOP senators and senate candidates....can't have it both ways.

    The GOP wants the American people to believe that the Democrats – who raise more money from more people than the GOP AND at lower per person donation levels than the GOP – are the ones who have snuggled up to the wealthy and entitled in this country!? C'mon!

    Frankly, bravo for Senator Reid. Its about time Democrats started being more plain talking and calling truth to power like Truman or LBJ did before them!

    May 5, 2010 05:00 pm at 5:00 pm |
  19. silvertop

    Here we go again.
    Wall Street donated more to Obama's and democrats' campaigns than to republicans in 2008.
    Who is in bed with whom?

    May 5, 2010 05:02 pm at 5:02 pm |
  20. Hell is...

    This is why political parties should be dissolved !! Do all Republicans love Wall Street? Probably not. Then why would they want to associate with a group that is painted as such? What benefits do they get from it?

    May 5, 2010 05:03 pm at 5:03 pm |
  21. Brian

    Way to Go Senator Reid!! Now if a few more Senators would wake up and take the initiative to wean themselves away from Wall Street maybe Main Street can recoup some jobs.

    But I do have a question at a time when they are looking at ways to prevent companies from becoming to big to fail, why would anyone approve the merger of UAL and Continental? Talk about a disaster if the new UAL fails like the old.

    May 5, 2010 05:04 pm at 5:04 pm |
  22. stevegee

    Reid and the Democrats are such hypocrites. On the one hand they wrote the legislation that caused the Great Recession, then after it happens they demonize and vilify the same people who they regulated into a financial corner.

    May 5, 2010 05:04 pm at 5:04 pm |
  23. Don of Iowa

    Reid could not have hit the nail on the head any better if he had tried. If you want to see the party responsible for the Great Recession you need look no further than the Republicans in the House and Senate. Wall Street and Republicans are illicit bed partners and always have been, for them to turn on Wall Street is like asking a sex addict to turn on his lover, there is no way it is ever going to happen.

    May 5, 2010 05:06 pm at 5:06 pm |
  24. Hendrik

    The Republicans don't like it when others take a page from their playbook. It is about time that Democrats fight the Republicans the way Republicans recognize as their own tactics.

    May 5, 2010 05:08 pm at 5:08 pm |
  25. alicia

    Please, pot calling the kettle black!

    Reid, you snake, bye bye this November!

    May 5, 2010 05:11 pm at 5:11 pm |
1 2 3 4