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  Corker Chides Fellow Republicans for Financial Reform Rhetoric
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ContributorBrandonius Maximus 
Last EditedBrandonius Maximus  Apr 20, 2010 12:57pm
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AuthorEmily Pierce
News DateTuesday, April 20, 2010 06:55:00 PM UTC0:0
DescriptionSen. Bob Corker (R-Tenn.) criticized both parties for their heightened partisan rhetoric over financial regulatory reform — and warned members of his own party in particular that they are using arguments that play right into the hand of the White House.

“The way this whole debate has been framed is to me very low level and very silly,” Corker told reporters Tuesday. “And even the things that we’ve been saying on our side of the aisle about bailouts and all that, they miss the point and I think take us off on a bunch of rabbit trails.”

Corker was referencing his leadership’s decision to cast the bill’s bank-financed $50 billion fund for the dissolution of failed financial firms as a way to permanently insure future taxpayer bailouts along the lines of the $750 billion Wall Street rescue passed in October 2008.

“You know the interesting thing about us picking ... the $50 billion fund is that it plays right into the hands of the administration, because they don’t want this $50 billion fund,” Corker said. “What they want to do is come right back around and tax the banks, and if there’s a $50 billion pre-fund it keeps them from being able to do it. So I don’t understand why our line of attack has been over that fund.”

White House officials have said the fund is not their preference, and they have proposed a bank tax.
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