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

Top House Republican calls for repeal of Wall Street bill

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2010/images/07/15/art.boehnercu0715.gi.jpg caption="'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passage Thursday afternoon of the Wall Street reform bill, the top House Republican called for the legislation to be repealed.

House Minority Leader John Boehner, R-Ohio, told reporters, "I think it ought to be repealed.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. C Smith

    And you Boehner, should be removed from office.

    July 15, 2010 12:55 pm at 12:55 pm |
  2. GI Joe

    Shut up Boner – you've had enough sun (golfing) to be "disinfected", yet your lies and blatant corporate support are some of the most toxic in this country.


    July 15, 2010 12:56 pm at 12:56 pm |
  3. ZedLok

    reading from the lobbyist written script, eh Boehner? you could at least try to not make it obvious.

    Saying "It's too much!" -when nearly every serious review of the bill reveals it falls short on many levels- is just dumb. I pity those who fall for this sort of BS rhetoric.

    July 15, 2010 12:58 pm at 12:58 pm |
  4. Steph

    Sorry Mr. Boehner, You don't have the 60 votes to do that!

    July 15, 2010 12:58 pm at 12:58 pm |
  5. Bertina

    Is this what America wants to happen if Republican's take control of the House? I think not.

    July 15, 2010 12:58 pm at 12:58 pm |
  6. Dont forget to thank a Globalist if you dont have a job.

    Dont make us laugh,they love this bill.hahaha

    July 15, 2010 12:59 pm at 12:59 pm |
  7. Truth-Bomb Thrower

    First of all, the economic collapse was NOT caused by too little regulation. It was caused mostly by the federal government pressuring lenders to lend to low-income people, regardless of their capacity to pay the money back.

    Second, we need to ask ourselves is this bill really about preventing another economic collapse, or is it about Rahm Emanuel being true to his word and not letting "a good crisis go to waste."

    July 15, 2010 01:01 pm at 1:01 pm |
  8. Lisa P

    Yeah, John, and nuclear radiation is also a great disinfectant. So, your point? Or better yet, how about a real plan or some real proposals to fix the problem instead of more political hot air? After all, it was you and your merry band of deregulators and bubble spectulators that got us into this mess to start with.

    July 15, 2010 01:01 pm at 1:01 pm |

    Boner fails to point out that the "bail outs" won't come from taxpayers.

    Oh...and he's wrong about all that other stuff too. Just sticking up for his gravy train...Big Biz.

    July 15, 2010 01:02 pm at 1:02 pm |
  10. nini

    Stop this takeover. Please stop the takeover.

    Obama care has opened the doors for the takeover and with this bill they will pass the point of no return the assault on our economy will be completed.

    Let them attack you for being on the side of Wall street, but don't let them pass this bill.

    Please stop the takeover.

    July 15, 2010 01:02 pm at 1:02 pm |
  11. William Jefferson

    reubliscum are trying to fool their brain dead lemmings by claiming they will repeal all the good legislation the Demorcrats have passed that fixes the mess republicons created. They count on most Americans not being smarter than a 5th grader, because even most 5th graders know that you have to have a majority vote in both houses to pass a law, which republicons will not be able to do, and then and only then a bill goes to the president, and the chances of President Obama signing the repeal of his own legislative agenda is lower than zero. So all this nonsense about "repeal" will have to wait at minimum until 2017 when republicons will have a chance of gaining the WH again. In the meantime, they are playing you rightards for moronic suckers, as they do all the time.

    July 15, 2010 01:03 pm at 1:03 pm |
  12. Linda

    Obstructionist Boehner – what an idiot you are!

    July 15, 2010 01:05 pm at 1:05 pm |
  13. Gary

    Regulations? We don't need no regulations. What could possibly go wrong?

    July 15, 2010 01:07 pm at 1:07 pm |
  14. producer

    demanding repeal before a bill passes now? what a joke these repubs are! the unemployment extension vote is scheduled for next tuesday – they'll be demanding repeal of that one later this afternoon.

    July 15, 2010 01:07 pm at 1:07 pm |
  15. xavier

    Boehner wants to repeal the wallstreet bilol? No big surprise. Doesnt it seem when the man talks he looks like he has had one been to many?

    July 15, 2010 01:08 pm at 1:08 pm |
  16. Papasan in AZ

    Where is the Bail Out for Main Street USA?

    July 15, 2010 01:08 pm at 1:08 pm |
  17. Video Guy

    Mr Boehner needs to Chill. Give it up, you lost another one. Maybe if you started working with the other side, the bill would be more to your liking.

    So go get a tan, have a smoke, play with the wife, but leave governing to the pros.

    July 15, 2010 01:09 pm at 1:09 pm |
  18. Liz the First

    Calling for a bill to be repealed before it's even signed. how much more obstructionist can you get??? these people don't give a rodent's rump what happens to this country or its people, as long as they destroy Obama. and all you Obama haters who post on this list, you're nothing to the rethugs except a source of money and votes. you're nothing but collateral damage! wake up and realize you're supporting the party that is screwing you six ways to sunday!

    July 15, 2010 01:10 pm at 1:10 pm |

    This is why you will NEVER be speaker of the House.........Amazing.

    July 15, 2010 01:11 pm at 1:11 pm |
  20. xavier

    Joe Scarborough said on morning Joe that Boehner would hit the bars pretty early.

    July 15, 2010 01:11 pm at 1:11 pm |
  21. p.h

    boy! do we really want the gop to lead us again

    July 15, 2010 01:12 pm at 1:12 pm |
  22. Duck Fallas

    300 "sunlight is the best disinfectant" jokes related to Boner's tan- GO!

    July 15, 2010 01:13 pm at 1:13 pm |
  23. Seth

    Don't these Republicans have any shame, fighting for Wall Street when millions of workers are unemployed and suffering throughout the country
    I suppose those former Middle-Class Americans are too poor for the Republican Party to care about them.

    GOP YOU are anti-American, you're betting against the USA

    July 15, 2010 01:13 pm at 1:13 pm |
  24. bobden

    John bonehead fails to suprise.
    May he should try to climb out of his banker friends pocket.

    July 15, 2010 01:14 pm at 1:14 pm |
  25. vic

    John Boehner out of touch
    I don’t like more regulation on wall street . but taxpayer rescue the wall street
    Still we don’t what happened to the toxic assets
    This finical reform will make sure in future tax payers never bail out wall street will John Boehner get this

    July 15, 2010 01:14 pm at 1:14 pm |
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