Dems attempt to harness anger at Wall Street
October 6th, 2011
11:09 AM ET
3 years ago

Dems attempt to harness anger at Wall Street

(CNN) – Democrats decided to strike while the iron is hot Thursday and released a new web video that blasts Republican presidential candidates for railing against Wall Street reform.

On the same day the "Occupy Wall Street" protests are expected to embark on Capitol Hill, the Democratic National Committee released the web ad featuring clips of 2012 candidates pledging to repeal the Dodd-Frank bill in an attempt to leverage anger at Wall Street and direct it toward Republicans.

"Three years ago Wall Street risk taking almost destroyed our economy," the ad reads as it introduces clips of news coverage from the 2008 financial meltdown.

Touting the Dodd-Frank bill as legislation signed by Obama to "prevent that from ever happening again," the ad goes on to say "Republican presidential candidates want to undo all that progress."

It also paints Senate Republicans as obstacles to reform, citing resistance to the confirmation of Richard Cordray as the head of the newly created Consumer Protection Financial Bureau.

The ad closes with two final asks, "Tell Republicans: Leave Wall Street reform alone," and "Put consumers first: Confirm Richard Cordray to run the CPFB."

Republicans have criticized the agency as lacking in transparency.

The Dodd-Frank bill, intended to restrict taxpayer-funded bank bailouts, has been decried on the campaign trail by GOP hopefuls including Texas Gov. Rick Perry, former Utah Gov. Jon Huntsman, former House Speaker Newt Gingrich, and former Massachusetts Gov. Mitt Romney.

Romney served up stinging criticism of "Occupy Wall Street" demonstrations recently, calling them "dangerous." He also described the rallies as "class warfare."

"Occupy Wall Street" protesters have drawn the support of labor unions as they voice discontent with the economy and other issues in the financial district of New York City. But Thursday, demonstrators will gather on Capitol Hill under the same name.

Former CEO of Godfather's Pizza and presidential, Herman Cain, who's been moving up in the polls, said Wednesday he didn't understand what the protesters want and suggested their anger is misplaced.

"Don't blame Wall Street. Don't blame the big banks. If you don't have a job and you're not rich, blame yourself," Cain said.


Filed under: Congress • Democrats • DNC
soundoff (20 Responses)
  1. Canuck

    They'll support and cheer those who rise up against oppression and tyranny in the Middle East, but in the United States ... not so much.

    October 6, 2011 11:16 am at 11:16 am |
  2. Itsmyfault

    Until Democrats stand alongside Republicans and make it illegal for them to accept lobbiest money from these companies then I really don't see one party having an upper hand in this demontration.

    October 6, 2011 11:19 am at 11:19 am |
  3. Inmyopinion

    Let's not forget SOLYNDRA!!! who took our tax paying money and filed bankruptcy and were supposed to get another loan from our tax money. Oh please, Democrats and Republicans are all part of Wall Street, who do Democrats think they are fooling.

    October 6, 2011 11:20 am at 11:20 am |
  4. Rudy NYC

    The better quote from Mr. Cain was him calling the protestors "anti-American." I guess a grass roots movement isn't legitimate to conservatives unless it is sponsored by the Koch brothers and called the Tea Party.

    The protestors make a good point, though. Not a single person was ever charged with any crime for the financial collapse, and I am sure there was plenty of deceptive and criminal practices that took place. Nope, that's wrong. There was one person who was charged, tried, convicted, and sent to jail. Bernie Madoff.

    The only reason Madoff was charged is because he stole from the rich and powerful. Those who stole from the middle class and working families have not been charged. THAT is what the protestors are demonstrating about.

    October 6, 2011 11:32 am at 11:32 am |
  5. vic , nashville ,tn

    CNN and FOX didn’t want give air time to protesters they took one step more to criticize the demonstration (Erin Burnett CNN)
    But world news organization and local news organization are covering the story
    Today Occupy Nashville joining the wall street protesters

    October 6, 2011 11:36 am at 11:36 am |
  6. Stranger in an increasingly strange land

    Why are there protests? In large part because Wall Street is the major cause of the economic woes we are having. The money first attitude has led to job after job being sent out of country. If a factory needs updating and it turns out to be cheaper to build a new one in a third world country, it appears there is no concern given to the American worker. Even if it is cheaper to do the upgrades, the work will still be outsourced simply because foreign workers are willing slave away for hours longer than an American work week for pennies on the dollar. And those workers do not often get any benefits, such as insurance, retirement, holidays, vacations, etc. If they miss a couple of days, there is always another one waiting to take their place.

    Of course this doesn't even mention Ponzi Schemes, bailouts, golden parachutes, looted retirement accounts, etc.

    It is amazing we don't build monuments to the greed of those folks. Sorry, we do. The Republican Party.

    October 6, 2011 11:44 am at 11:44 am |
  7. NVa Native

    Crying about Solyndra is a typical Repub deception – one company – just one failed – so did they want the govt to prop up a corporation that failed after it recieved the grant? Or should we just stop giving grants to promote beneficial industry? No more pharma grants, oil corp garnts, medical & research grants – as the Chinese do this and more to kick our butts even more.

    What about Bechtel, Blackwater, DynCorp, Northrup-Gruman, Rand Corp, etc., who recieved billions in Repub "no-bid" "no paperwork" contracts that funneled billions to the the war profitiers?

    October 6, 2011 11:52 am at 11:52 am |
  8. counter opinion

    Lets not forget two unfunded, off the budget wars from the last administration. Lets not forget deregulation, which would be worse if Republicans got their way. Lets not forget that the great depression of the late 20's was caused by the exact same situation that Republicans are attempting to do again!

    October 6, 2011 12:01 pm at 12:01 pm |
  9. Rudy NYC

    Okay, Solyndra goes belly up. Seems to me that someone should be able to purchase the facilities at a good price. Why don't one of these "job creators" buy it, invest in it, and create some jobs. I guarantee you that the Chinese would probably be very insterested in buying that facility Solyndra had.

    October 6, 2011 12:03 pm at 12:03 pm |
  10. Kathy

    NVa Native

    Crying about Solyndra is a typical Repub deception – one company – just one failed – so did they want the govt to prop up a corporation that failed after it recieved the grant? Or should we just stop giving grants to promote beneficial industry? No more pharma grants, oil corp garnts, medical & research grants – as the Chinese do this and more to kick our butts even more.

    What about Bechtel, Blackwater, DynCorp, Northrup-Gruman, Rand Corp, etc., who recieved billions in Repub "no-bid" "no paperwork" contracts that funneled billions to the the war profitiers?
    *************************************************************
    pssst, that was then, this is now. "Crying about Solyndra is a typical Repub deception". hmmm, seems to me you're doing the same thing with your "Blackwater", DynCorp" etc. comment only this time the shoe is on the other foot.

    October 6, 2011 12:08 pm at 12:08 pm |
  11. rob

    vic , nashville ,tn
    FOX news covered the so called protesters early on. They interviewed the self proclaimed Anarchists, Communists and unemployed college grads who spoted nothing but jibberish. So this is who the Democrats and the Unions want to jump on board with? They deserve each other and because of the internet and more fair sources of news and information the public can see behind the smokescreen the old media is putting up in front of this "movement".

    Nov 2012 is coming fast!

    October 6, 2011 12:10 pm at 12:10 pm |
  12. Rick McDaniel

    That's dishonest. The Dems paid those people to go there, in the first place. Anyone with half a brain knows that.

    October 6, 2011 12:14 pm at 12:14 pm |
  13. gt

    you bet ceo's getting millions and millons while the average work just gets by ..is a sin...hege fund mgrs make millions for what hello george soras.... both parties are are in bed with wall street big money ,,

    October 6, 2011 12:15 pm at 12:15 pm |
  14. Four and The Door

    Of course the Democrats will try to use this protest against " The Man" for their advantage in 2012. They are unable to run on the results of Democratic Economic Program results because they have been dysmal.

    The irony of this is that the Democrats pretty much own Wall Street and the American financial industry now because of their own far-reaching programs instituted during the first 2 years of the Obama Administration.

    I look forward to the 2012 debates when Obama has to try and spin his way through a debate with the Republican candidate whoever that turns out to be.

    October 6, 2011 12:19 pm at 12:19 pm |
  15. Woman In California

    It's sure heating up in San Francisco.

    October 6, 2011 12:20 pm at 12:20 pm |
  16. Annie, Atlanta

    Finally! What took them so long?

    October 6, 2011 12:25 pm at 12:25 pm |
  17. GuyinVA

    Pity the poor oppressed people of lower Manhattan. The left praises the idea-free, agenda-free bolsheviks protesting "Wall Street", "the banks", "corporations", and of course "millionaires and billionaires". At the same time the leftists attack the Tea Party. The hypocrisy couldn't be any more apparent if the marxist left hit us over the head with it like a hammer... and sickle.

    October 6, 2011 12:28 pm at 12:28 pm |
  18. Bob

    I must say that Republicans have nothing to do with it. While I am independent I remember who bailed out those large corporations and whose cars were parading wall street– barrack hussain obama. So don't blame republicans, blame a guy who not only sings empty promises but also wasn't born here. .

    October 6, 2011 12:31 pm at 12:31 pm |
  19. Kevin

    Cain then added "And if they don't have bread....Let them eat cake!"

    October 6, 2011 12:35 pm at 12:35 pm |
  20. MTATL

    I have contacted Sen. McConnell, Rep. Boehner and Rep. Cantor and my Sen. Chambliss offices numerous times. I ask the same questions. What have you actually done that has helped to improve our current economic situation? What have you done positively to better the country's job situation? The only response has been we are discussing it. I have not read, heard on the radio or seen a news story in which the Republicans or the extremists in Congress have done on single thing to improve the job situation in this country. They have spent all their time telling us "President hasn't done that" or "The President did this" , hey GOP that is fine and dandy you told on the President. Now tell us what have you actually done that is so worthwhile that we should give you praise?

    October 6, 2011 12:38 pm at 12:38 pm |