July 15th, 2010
12:52 PM ET
4 years ago

Top House Republican calls for repeal of Wall Street bill

'There are common sense things that you should do to plug the holes in the regulatory system that were there,' House Minority Leader John Boehner said Thursday of the Wall Street bill.
'There are common sense things that you should do to plug the holes in the regulatory system that were there,' House Minority Leader John Boehner said Thursday of the Wall Street bill.

Washington (CNN) - Hours before expected passage Thursday afternoon of the Wall Street reform bill, the top House Republican called for the legislation to be repealed.

House Minority Leader John Boehner, R-Ohio, told reporters, "I think it ought to be repealed. There are common sense things that you should do to plug the holes in the regulatory system that were there, and to bring more transparency to financial transactions, because transparency is like sunlight. Sunlight is the best disinfectant."

Boehner, who came under fire from Democrats for comparing the bill to "killing an ant with a nuclear weapon," again slammed the bill as going too far.

"I think the financial reform bill is ill conceived, going to make credit harder for the American people to get, clearly harder for businesses to get and the fact that it's going to punish every banker in America for the sins of the few on Wall Street is unwise. On top of that I think it institutionalizes 'too big to fail' and gives far too much authority to federal bureaucrats to bail out virtually any company in America they decide ought to be bailed out."

A representative for House Speaker Nancy Pelosi immediately slammed Boehner's comments.

"This comes as no surprise coming from the Republican House leader who called the financial crisis that caused 8 million Americans to lose their jobs an 'ant,'" Pelosi spokesman Nadeam Elshami said in a statement. "Democrats will stand with the Middle Class and Main Street, while Washington Republicans, who are out of touch, will continue to stand with Wall Street."


Filed under: Financial Reform • John Boehner • Wall Street
soundoff (119 Responses)
  1. Chuck Anaheim, Ca

    Go back to your tanning booth and have a couple of cocktails mr. boner. Why do you keep defending the crooks that took us to the cleaners? I have NO retirement to look forward to and now your teabagger cronies are after what little bit of money people nearing retirement have, calling for the end of social security. Must be nice to know YOUR MONTHLY retirement (more than my wife and I will recieve combined over our lifetime of SS) and paid healtcare will be with you for life.

    July 15, 2010 02:01 pm at 2:01 pm |
  2. Cfrench

    Hey Boehner, you moron, how do you repeal something that hasn't been passed?

    Honestly, how on earth can anyone vote for any politician that's a member of this obstructionist party.

    July 15, 2010 02:02 pm at 2:02 pm |
  3. Pkm

    The gop has wall st in there in there pocket they will never go for reform

    July 15, 2010 02:02 pm at 2:02 pm |
  4. Greg from Virginia

    Again the Republicans say no the american people and yes to the wealthy. Come November, America needs to say NO to the Republicans and vote for Democrates.

    July 15, 2010 02:03 pm at 2:03 pm |
  5. SchmakettyWacketyDooo!

    Can anyone tell me the last time "The Boner" had any positive ideas or solutions to anything? Isnt that what he was hired by the people for? Worst public servant ever!

    July 15, 2010 02:03 pm at 2:03 pm |
  6. John B. From New Hampshire

    Ok, John, I'll bite... examples? Anything constructive? Details? Nothing...No? How's that novel you're workin' on there... how long you been workin' on that novel? Three years now? Got any interesting protagonists for your story there? Any friends become lovers, lovers become friends? Damn the tan man!!!

    July 15, 2010 02:05 pm at 2:05 pm |
  7. S.B. Stein E.B. NJ

    What has the gentleman from Ohio suggested to keep the financial sector from exploding or doing other foolish things?

    July 15, 2010 02:05 pm at 2:05 pm |
  8. Fed Up!

    John Boehner is still out of touch with the average American.

    Apparently he and his GOP colleagues would rather represent Wall Street than their constituents.

    July 15, 2010 02:05 pm at 2:05 pm |
  9. KImberly

    OMG Boner, lay off the fake tan! your TOTALLY an OOMPA LOOMPA! WOW! OH, on another note, your a comple moron! Shame on you for doing whats best for your pockets and not the country!

    July 15, 2010 02:06 pm at 2:06 pm |
  10. Robert

    If the Dems pooped gold bars and gave one to evey American, Boener would say that it was bad and that it would dilute the dollar.

    Go back to your spray tan and get out of the way of progress.

    July 15, 2010 02:06 pm at 2:06 pm |
  11. Not real reform

    I agree, the bill is one of the stupidest things that we can pass right now. IT IS JUST AN OBAMA/DEM PR MOVE. The main problem with the bill is that it doesn't address the problem that actually caused the economic downturn–government mandated lending and corruption/poor oversight at government-esque Fanny and Freddie.

    Obama and Pelosi want to punish all bankers for mistakes made by members of their own party–Barney Frank, Chris Dodd, Bill Clinton, and Franklin Raines (who earned $90M in bonus by cooking the books).

    Americans need to vote out all imbeciles that vote for this bill.

    July 15, 2010 02:07 pm at 2:07 pm |
  12. sandy

    No one pays attention to Boehner anymore. Everytime he appears on TV, he sticks his foot in his mouth.

    July 15, 2010 02:10 pm at 2:10 pm |
  13. usualone

    Okay, Mr. Boehner, since you insist on saying "no" or negative things about anything the Democrats propose, let's see what you propose.

    July 15, 2010 02:11 pm at 2:11 pm |
  14. pnclaw

    Disregard who said it, the content of Boehner's argument makes sense.

    For Pelosi, attack tactic works better than defending a decision.

    July 15, 2010 02:12 pm at 2:12 pm |
  15. Can't bite the hand that feeds him

    Boehner is just another of those ready to defend Wall Street. the oil companies and all the others who pour money into his coffer.

    His interests have little to do with caring for the average Joe.

    July 15, 2010 02:13 pm at 2:13 pm |
  16. CK in SD

    he would say exactly the same thing regardless of what was in the bill. He has a legion of pollsters who tell him what talking points most people support and will say them regardless of whether its true or not because he knows that no one outside of lawyers for the banks are going to read the bill.

    July 15, 2010 02:13 pm at 2:13 pm |
  17. Cody

    House Minority Tool John Boehner, R-Ohio ,today gave reporters the expected GOP knee jerk response to the Wall Street reform bill, to wit: "The GOP sides with Big Business against the interests of Americans everytime, and we laugh behind the backs of middle and working class Americans when they buy into our flag waving and "family, God and country" smoke and mirrors trick".

    July 15, 2010 02:15 pm at 2:15 pm |
  18. KM

    So what would you propose or recommend as a solution? More tax cuts, subsidized incentives to increase lending, more deregulation to create an open market? We tried those already and they didn't work so let's try something different.

    If credit will be harder to get, what is wrong with that? If my credit score is below 600, I should not be allowed to get whatever I want. That is the purpose of having a credit scoring system, it artificially judges your ability to repay.

    July 15, 2010 02:15 pm at 2:15 pm |
  19. Brian - Seattle

    Repeal it all!!!! WEEEEEEE

    I can't deal with the fact that I'm not in the majority opinion of a 2 chamber house so I'll cry like a baby!

    Checks and Balances!?!? Who needs em! WEEEEEEE Repeal because I don't like it and can't handle it!

    Get serious Boehner. Start leading or get the hell out of the way. This is our system of government. Either accept it or leave Congress because you are tarnishing the foundation of our republic with your "repeal" rants.

    July 15, 2010 02:16 pm at 2:16 pm |
  20. Stacey

    Please, Mr. Orange Face, go get a life and shut up! You are not in power and I hope to God you never get back in power again. Where are your solution or ideas? You and your party cause this mess. Since the GObP in Congress and the Senate won't do the job they were elected to do, just go away already.

    July 15, 2010 02:17 pm at 2:17 pm |
  21. Anonymous

    Have you seen Nancy Pelosi lately. Talk about out of touch. The woman wakes up to a Botox injection and a bottle of white wine.

    July 15, 2010 02:21 pm at 2:21 pm |
  22. Cloosdoosch

    Sunlight is the best disinfectant

    Then why don't you go sit in it for a while

    July 15, 2010 02:24 pm at 2:24 pm |
  23. Dan, TX

    Boehner is a fool who believes that there should be no minimum wage, that is, it is ok to stop illegal immigrants as long as American workers can be made to work for $1.00 an hour.

    July 15, 2010 02:24 pm at 2:24 pm |
  24. Dave

    Please God make it stop!!!!! Every time Boehner and Barton and the rest of these clowns speak they subtract from the sum total of human knowledge.

    Why anyone would vote republican is beyond me.

    July 15, 2010 02:24 pm at 2:24 pm |
  25. mar

    Mr. Boehner, please tell us what your solution is. No Solution? Thought so.....

    July 15, 2010 02:25 pm at 2:25 pm |
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