May 6th, 2010
04:23 AM ET
5 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: GOP • Harry Reid
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