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passage Thursday afternoon of the Wall Street reform bill, the top House Republican called for the legislation to be repealed.

House Minority Leader John Boehner, R-Ohio, told reporters, "I think it ought to be repealed.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. T'SAH from Virginia

    That's TWO repeals the RepubliCAN'Ts are calling for. Add that to the number of "NOs" and we have a PERFECT SCORE – 100% of "Nothing"!!!

    "...because transparency is like sunlight. Sunlight is the best disinfectant." ROTFLMAO

    Is that why YOU are so ORANGE??? If sunlight is the best disinfectant then you and the rest of the party of NO should LIVE under it!!!

    July 15, 2010 02:26 pm at 2:26 pm |
  2. teena

    Hey Boehner–did you take civics in high school? You can not repeal a law until it is ACTUALLY signed into law!
    Maybe you should have worked harder to ensure all of the things you wanted where actually in the law rather than just saying NO to everything.

    July 15, 2010 02:30 pm at 2:30 pm |
  3. Dennis

    What's the matter John, your billionaire friends crying?

    July 15, 2010 02:30 pm at 2:30 pm |
  4. Dave L

    "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,'"

    Pwned!

    July 15, 2010 02:34 pm at 2:34 pm |
  5. Craig

    Here we go again with more non-sense from the ant-slayer – man who would be king.

    This is so predictable; Boehner and his republicans having defended big insurance company profits and their death panels, big oil companies that reap gross profits while they gouge us at the pump and despoil our environment, now defend big banks whose greed and despicable unethical behavior caused this 2nd depression putting 8 million of us out of work.

    In all cases where the interests of big business conflict with the interests of hard working folks, they take they side of big business. Follow the money folks just follow the money. Do you think they met secretly with the Bankers just to be social?

    Are you ready for another round of tax breaks for the rich elite? Do you like being trickled down upon? Do you want big business deregulated, after all you can trust them right? Do you want more wars when we cannot afford the ones we have? Do you want workers to stop funding their parent's social security so they can instead invest the money in the stock market? Do you really think these old and familiar failed methods are going to work this time around?

    Wake up before it is too late!

    July 15, 2010 02:35 pm at 2:35 pm |
  6. KTN

    I doubt Boehner has even looked at the bill. Can't read while in the tanning bed.

    July 15, 2010 02:35 pm at 2:35 pm |
  7. Greg in Cabot, AR

    Boehner: "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"......HELLO...

    Easy credit is what got us into this mess in the first place... so you want to go backward to the free-for-all that made bankers rich while the rest of got screwed?

    If Boehner doesn't like it.....IT HAS TO BE GOOD for the rest of us.

    July 15, 2010 02:35 pm at 2:35 pm |
  8. GOP Admits to Lying About financial reform

    GOP: You're too stupid to understand Financial Reform so we're going to lie about it!

    This is a quotation from a Republican operative that illustrates their November strategy:

    "This bill, in the minds of most Americans, is just a big amoeba," said John Feehery, a Washington-based GOP strategist. "Because this bill is so complicated, it makes it easier for Republicans to oppose it, and by opposing it, call it a job killer."

    See that?

    It's easier to "CALL" it what they want to call it because it is "COMPLICATED".

    The GOP thinks you're too stupid to understand the reforms in the bill, so that somehow gives the Republicans free reign to LIE their butts off about it?

    I don't think so.

    Americans, on a whole, are FAR smarter than the Republican Party politicians. We've got your number now, GOP.

    July 15, 2010 02:36 pm at 2:36 pm |
  9. BobH

    "I suppose one could wait for a bill to actually clear Congress– and maybe even see if it works– before calling for its repeal," said Boehner. "But why beat around the bush? Let's just repeal it before it passes!"

    "In fact, " Boehner continued, "let's just cut to the chase: I call for the immediate repeal of all future legislation made by Democrats!"

    July 15, 2010 02:38 pm at 2:38 pm |
  10. Sharron

    This man has cooked his brain the the tanning beds........sure he wants this bill repealled just like all of the Republicans......they are for Big Banks, Big Oil Companies, Big Businesses what more can you expect from the GOP their pockets are lined with money from Wall Street and Big Corporations........we don't buy into your lies anymore GOP so stop all this crap and get down to business.......all you want it to create upset and keep stirring the anger in this country to try to cause Obama to FAIL and it won't work.......

    July 15, 2010 02:40 pm at 2:40 pm |
  11. Ben in Texas

    The Man with the Transparent Tan is mad because his obstruction failed to prevent this bill from passing, which is an annoyance to his Wall Street banker buddies. So, he continues to try and obstruct, even after the bill has passed.

    Tan you may be, but we see through you, Bonehead.

    July 15, 2010 02:43 pm at 2:43 pm |
  12. Sorensen

    Poor, old, currupt (as much as his feeble little brain allows) Bohner.
    His I.Q. would not qualify him to carry Obamas briefcase.

    July 15, 2010 02:44 pm at 2:44 pm |
  13. one voice

    Trying to protect your Corporate Master above the American Taxpayer? Vote these " RICH GET RICHER" CLOWNS OUT.

    July 15, 2010 02:44 pm at 2:44 pm |
  14. KEVIN

    Oh man John Bonehead, you said and I quote
    "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" Well, Rep Bonehead here is your chance all of America is waiting and listening. What is your plan to fix these financial problem. Please I am a Democract and I have and will vote ReThugliCan't if you have a viable plan that if look at and investigated would work. So please don't hold back please tell us you plan any plan to save this country for financial ruin. Not all democract are like the ReThugliCan't we want to fix the problems of this country and we are looking for an a person who want to help the poor and middle class and from what I see ReThugliCan't only want to help the RICH AND BIG BUSINESS, LATER FOR THE POOR AND MIDDLE CLASS. If you have answer to the problems we face than spill it if not than please go get a tan you are fading to black.

    July 15, 2010 02:47 pm at 2:47 pm |
  15. Rob

    Go away. Far away Bohner.

    July 15, 2010 02:47 pm at 2:47 pm |
  16. roro

    The best thing that we can PLUG is Boehner. Like all Republicans, he's in the pocket of Wall Street. They don't give a darn about the rest of us, except when it comes to taxing us while giving money back to the rich. They don't even want to help all those who've lost their jobs through no fault of their own, because the Republicans and the money men have outsourced so many jobs so they can reap even more profits. He'll do anything, and say anything, whether it's true or not, to get to be the leader of the House. What an ego! What a jerk!

    July 15, 2010 02:47 pm at 2:47 pm |
  17. steve

    John Boehner is so orange

    July 15, 2010 02:49 pm at 2:49 pm |
  18. Doyle Wiley, MI

    When an ant can bring the economy to its knees; then yes it ok to kill that ant with a nuclear weapon.

    July 15, 2010 02:52 pm at 2:52 pm |
  19. maf

    Funny how the TAN man is talking about Sunlight as a disinfectant.
    Sunlight has disinfected his brain to the point of no return.
    Hope your resume is ready Mr. Boehner, you are soon going to have to call in a favor, or spend a good deal of time in the lineups you and your GOP co-horts are responsible for!

    July 15, 2010 02:52 pm at 2:52 pm |
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