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. Pragmatic

    What do republicans want? Today republicans offered a weaker alternative to consumer protection measures. Why?

    In another departure from the pending Democratic bill, the Republican plan would continue the practice of having federal laws override state laws. Under the Democratic proposal, states would be allowed to write and enforce tougher laws, a provision opposed by the financial industry.

    The GOP is always talking about "less big government" and "state's rights" What's up? Just asking!

    May 5, 2010 05:40 pm at 5:40 pm |
  2. Holding Up A Mirror

    A perfect description of the relationship between Wall St and their bed wench .... Republicans in Congress.

    May 5, 2010 05:42 pm at 5:42 pm |
  3. Mike

    If liberals don't like Wall Street, why don't you keep your money under the mattress? Oh, youf entitled to 15% returns with no chance of loss, you say? You folks are compelling the government, at a rapid pace, to dumb down society so even the most idiotic of liberals can flourish in this society, all at the expense of the thinking person. Thanks.

    May 5, 2010 05:43 pm at 5:43 pm |
  4. republicans hate america

    and whats not true about that?

    May 5, 2010 05:44 pm at 5:44 pm |
  5. Steve from California

    More lies!

    May 5, 2010 05:45 pm at 5:45 pm |
  6. Duane Bernard, Tucson, Az

    All you have to do is look back through history from 1925 on. The Republican Party has a track record of supporting big money/ big business and screwing the middle class and American workers. When you establish a track record like the Republicans Party it's hard to try and say you support middle America. It's like the wolf telling the sheep that he has changed his ways and come on over because now he is your friend. He'll eat you every time !!!!!!

    May 5, 2010 05:46 pm at 5:46 pm |
  7. Ancient Texan

    Harry, Since the Bankers donated 4 times more to Democrats campaign funds, including almost $1 million from Goldman Sachs to Obama, It looks like the Dems are in love with certain elements of Wall Street. But the bigger picture is, controls are needed on the financial industry, but 90% of the blame for the current situation belongs to CONGRESS.

    May 5, 2010 05:46 pm at 5:46 pm |
  8. jeff jackson, alabama

    Remember, this is the same piece of work
    who made the racist comment about Obama and
    never even got a second look from his peers.

    May 5, 2010 05:48 pm at 5:48 pm |
  9. Anonymous

    Ah, Harry Reid. You make us proud.

    May 5, 2010 05:49 pm at 5:49 pm |
  10. MayanMan

    Obama made love to Wall Street. How do you think he got elected?

    May 5, 2010 05:49 pm at 5:49 pm |
  11. Me! In Houston, Texas

    Why is it the most clever thing conservative and repbulican posters can come up with are clever variations on Obama's name?

    May 5, 2010 05:50 pm at 5:50 pm |
  12. Bob in SC

    Of course they. Why else would the republicans try to push a sweetheart weak on consumer proctection version of controls through this time? Smells like sweethearts helping each other to me.

    May 5, 2010 05:51 pm at 5:51 pm |
  13. Franklin

    ...and Democrats make love to welfare, what!

    May 5, 2010 05:51 pm at 5:51 pm |
  14. Joe

    Harry's remark is extremly offensive to American people, big corporations and small business. There would be no doubt that Republicans are more supportive of business, because they creat wealth and jobs to put dinner on the table for most American people. If Harry Reed's logic stands, can one say "Obama, democRATs and Reed "make love to black, hispanic, asians, labor unions, teacher unions, liberal elites on both east and west coasts, and how about terrorists......, because they are joined on the hips?

    May 5, 2010 05:51 pm at 5:51 pm |
  15. The heart of the matter

    The heart of the matter is Financial Reform and Regulation.

    Which begins with Blankfein going to a maximum security prison for at least 10 years..

    Immigration Reform, Welfare reform, and the continuance of Healthcare reform all hinge on what is about to pass us by. Financial Reform and Regulation.

    there is alot of money being spent right now to keep this out of the public eye.

    May 5, 2010 05:52 pm at 5:52 pm |
  16. Jerry A.

    If it weren't for the fact that politicians write the laws of the land, what the GOP does with Wall Street would be illegal (everywhere except Nevada, ironically) since it involves cash changing hands. Then again, it's a hard to say which profession, politics or prostitution, is the oldest, or if there is indeed any distinction at all.

    Given the right wing Supreme Court's decision that corporations have free spending / free speech rights like real people, politics is just going to get worse. Soon we're going to have a choice between electing the Senator from Exxon-Mobil or the Senator from Monsanto unless we get Congress to act now.

    May 5, 2010 05:52 pm at 5:52 pm |
  17. Vern

    Yeah and both sides are using tax payer money as the lube

    May 5, 2010 05:52 pm at 5:52 pm |
  18. Chuck

    Let 'em have it , Harry. They deserve it, and more. Those Republican hypocrites are continuing to obstruct and the time has come to not let them have an inch. They have become the party of nonsense and insignificance.

    In their continued support of Wall Street, it is evident that, they, and the Cheney/Bush administration were responsible for our economic collapse.

    May 5, 2010 05:53 pm at 5:53 pm |
  19. Tom

    "Make Love", "Orally Pleasure"... what's the difference?! They are ALL in bed together. Left and Right! Don't be fooled American public. Just look up who is heading some of these PAC. Anyone heard of a man named William H Strong? Well he used to be the vice chair of Morgan Stanley (yeah, remember them?). You wanna know what he does now? Hmmm do ya? Well he is the co-chair for the PAC set up by my governor Tim "I've had" Pawlenty. Whatever you do... don't ask questions! They don't like that.

    May 5, 2010 05:56 pm at 5:56 pm |
  20. victim of democrat hypocrisy

    The sooner this old fool is out of office, the better!

    May 5, 2010 05:56 pm at 5:56 pm |
  21. Mr. Grumpy

    Funny, what party was one of the major beneficiaries of Wall Street largesse during the 2008 campaign? Oh yeah, I forgot! The democrats! Maybe that's why they are crafting a bill ensuring that "too big to fail" will be sanctified by D.C.
    Yet another ad hominem attack without supporting fact.
    Please Nevada, vote this clown out.

    May 5, 2010 05:57 pm at 5:57 pm |
  22. Michael

    Speaker Reid showed admirable restraint and careful decorum in using the expression "making love" for what amounts to plain old prostitution.

    May 5, 2010 05:57 pm at 5:57 pm |
  23. Allen Hussein

    Maybe Reid's opponent will send Wall Street a chicken.

    May 5, 2010 06:00 pm at 6:00 pm |
  24. John Starnes Tampa Florida

    The GOP is fond of using swiftboat-style lying, so I am sure this truth hurts. They are the party of, by and for the rich and powerful, NOT the people.

    May 5, 2010 06:01 pm at 6:01 pm |
  25. Jim in San Mateo

    The republicans may be up and arms about the remark, but actions speak much, much louder than words.

    May 5, 2010 06:03 pm at 6:03 pm |
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