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Opinion: GOP Senate candidates would stand with Wall Street

By ThisIsReno

SUBMITTED RELEASE FROM NEVADA STATE DEMOCRATIC PARTY

LAS VEGAS–As Democrats, led by Sen. Harry Reid, hail the passage of landmark Wall Street reform that will hold banks accountable, Nevada’s GOP Senate candidates admit they would have stood with the financial institutions whose risky practices created this meltdown.

Frontrunner Sharon Angle and candidates Danny Tarkanian and Sue Lowden have said they would stand by the banks whose greed ravaged our financial system, creating a spiral of job losses, despite bipartisan support for these common sense reforms. They all said they would vote to block reform.

Here’s how Angle, Lowden and Tarkanian vowed to stand shoulder to shoulder with big Wall Street banks:

· Sharron Angle thinks “no action should be taken to fix Wall Street.” [Las Vegas Sun, 4/28/2010] She also opposes accountability measures, even for banks that were bailed out by taxpayers. Responding to a question about banks who received TARP money giving bonuses to executives, Angle said “We don’t go in and tell business what to do. That’s not what government’s supposed to be about.” [Face to Face with Jon Ralston, 2/3/2010]

· Sue Lowden favors less protection for taxpayers from abuses on Wall Street. Lowden “said she would have voted with Republicans to block debate on the bill, said in a previous Sun interview that the meltdown was caused by too much, not too little regulation.” [Las Vegas Sun, 4/28/2010] Lowden also opposes a new consumer protection agency for financial products such as credit cards and mortgages because the government plays a role.” [Las Vegas Sun, 4/28/2010]

· And Danny Tarkanian, too, has come out in opposition to common sense reforms for Wall Street, sending an email to supporters that repeated national GOP talking points long since debunked.

“Nevada’s GOP Senate candidates have made it clear they would have stood with the big Wall Street banks who caused this financial crisis rather than fight for Main Street and real financial reform with teeth,” said Phoebe Sweet, communications director for the Nevada State Democratic Party. “Nevadans are tired of a Republican Party that sides with big business time and again, forgetting the ordinary Nevadans who are struggling to make ends meet every day. Luckily we have Sen. Harry Reid fighting for common sense reforms and our interests in Washington.”

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