The Stakeholder
Preposterous
Barney Frank just sent this message to DCCC supporters:
Friend --
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There they don't go again. Yet another time, Republicans refused to support a bill vital to the interests of our nation.
Last week, the President signed into law the most significant reform of Wall Street since the days of Franklin Roosevelt. We did it over the objections of the most powerful financial institutions in the country, big business groups, a legion of lobbyists, and almost every Republican in Congress.
The legislation contains the strongest package of consumer protections ever adopted at one time in the United States. It restricts predatory mortgage lending, eliminates hidden credit card fees, and establishes a new Consumer Financial Protection Agency.
Most importantly, it contains strong measures to prevent financial institutions from engaging in the high-risk practices which deeply damaged our economy and caused millions of Americans to lose their jobs and their homes.
And, remarkably, the Republicans opposed it. That's why I need your help today -- Republicans are seeing record fundraising from special interests after their opposition, and we need to fight back and show our strength.
We will not go back to the Bush agenda. Contribute before the July 31st FEC deadline and a group of committed Democrats will match your gift today 2-to-1.
Last summer, Sarah Palin and the Tea Partiers almost killed health care reform with the preposterous accusation that the bill contained "death panels." Ironically, the new Wall Street reform law actually does contain "death panels" -- for large banks and investment houses.
It creates a mechanism by which they, when faced with collapse because of their own risky behavior, can be put quietly to death without causing catastrophic harm to the rest of the economy. As the President said during the signing ceremony for the new law, "there will be no more taxpayer-funded bailouts. Period."
Already, House Minority Leader John Boehner has said that if Republicans regain control of Congress he would repeal the law.
We will not go back to the Bush agenda. Contribute before the July 31st FEC deadline and a group of committed Democrats will match your gift today 2-to-1.
The recent 5-4 decision by the energetically activist conservative majority on the Supreme Court has given people who tried to kill Wall Street reform a new channel for pouring money into campaigns against the overwhelming majority of Democrats who fought for it.
Given the Supreme Court's relentless war against campaign finance regulation, our only protection against a flood of corporate and other money from wealthy right-wing opponents of sensible public policy is for those who support decent healthcare, reasonable financial regulation, thoughtful climate control policy and measures both to combat the effects of this recession and to get us out of it is to contribute to the DCCC to help Democratic candidates.
If big money has the field to itself, it will win elections and control our future. But if people like you who care passionately about our country continue to work hard and if average voters get involved, we can beat big money. We did it with financial reform, and we can do it again.
Contributing to the DCCC is one of the best ways - sadly one of the few ways - available to those who want to help us beat back the assault from the right.
Thank you for your continued support,
Barney Frank
