New Lie On Bank Reform

Dave Johnson
December 11, 2009 - 2:30pm ET

Opponents of financial reform, after huddling with banking lobbyists, are now circulating a story that the reform bills are nothing more than more bailouts for the big banks. In fact the bills do the opposite, and have a mechanism for shutting banks down instead of bailing them out in the future.

But the bank lobbyists and their paid-for allies in the Congress understand that the public just hates the bailouts, so they are trying to direct that hatred to try to kill a bill that would ... prevent bailouts.